Cousins Properties (NYSE:CUZ) Given New $31.00 Price Target at Evercore ISI

Cousins Properties (NYSE:CUZ) had its price objective hoisted by Evercore ISI from $30.00 to $31.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird lowered their price target on shares of Cousins Properties from $34.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Jefferies Financial Group assumed coverage on shares of Cousins Properties in a research note on Monday, March 17th. They set a “buy” rating and a $35.00 target price for the company. Wolfe Research raised shares of Cousins Properties from a “peer perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research note on Monday, April 7th. Barclays lowered their target price on shares of Cousins Properties from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cousins Properties currently has an average rating of “Moderate Buy” and an average price target of $32.60.

Cousins Properties Price Performance

Cousins Properties stock opened at $28.02 on Monday. Cousins Properties has a 52-week low of $22.01 and a 52-week high of $32.55. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 93.40, a PEG ratio of 2.98 and a beta of 1.34. The company has a fifty day simple moving average of $27.92 and a 200-day simple moving average of $29.56. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.64.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. The firm had revenue of $6.81 million for the quarter, compared to analysts’ expectations of $238.49 million. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. On average, equities analysts anticipate that Cousins Properties will post 2.76 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, April 3rd were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.57%. The ex-dividend date was Thursday, April 3rd. Cousins Properties’s payout ratio is 387.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Cousins Properties by 3.8% in the first quarter. Vanguard Group Inc. now owns 25,753,741 shares of the real estate investment trust’s stock valued at $759,735,000 after purchasing an additional 951,637 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Cousins Properties by 11.1% in the fourth quarter. Principal Financial Group Inc. now owns 13,491,300 shares of the real estate investment trust’s stock valued at $413,375,000 after purchasing an additional 1,350,352 shares during the period. APG Asset Management US Inc. boosted its stake in shares of Cousins Properties by 0.3% in the fourth quarter. APG Asset Management US Inc. now owns 7,853,306 shares of the real estate investment trust’s stock valued at $240,625,000 after purchasing an additional 19,657 shares during the period. Resolution Capital Ltd boosted its stake in shares of Cousins Properties by 33.5% in the first quarter. Resolution Capital Ltd now owns 5,886,133 shares of the real estate investment trust’s stock valued at $173,641,000 after purchasing an additional 1,477,044 shares during the period. Finally, Centersquare Investment Management LLC boosted its stake in shares of Cousins Properties by 11.7% in the fourth quarter. Centersquare Investment Management LLC now owns 5,600,905 shares of the real estate investment trust’s stock valued at $171,612,000 after purchasing an additional 585,659 shares during the period. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Company Profile

Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.