Cousins Properties (NYSE:CUZ) Price Target Cut to $32.00 by Analysts at Wells Fargo & Company

Cousins Properties (NYSE:CUZ) had its target price reduced by Wells Fargo & Company from $34.00 to $32.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the stock. Barclays dropped 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 report on Monday, February 3rd. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 8th. Evercore ISI boosted their target price on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an “in-line” rating in a research report on Monday. Robert W. Baird dropped their target price on shares of Cousins Properties from $34.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Finally, Jefferies Financial Group initiated coverage on shares of Cousins Properties in a research report on Monday, March 17th. They issued a “buy” rating and a $35.00 target price for the company. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.60.

Cousins Properties Stock Performance

Cousins Properties stock opened at $28.02 on Monday. Cousins Properties has a 12-month low of $22.01 and a 12-month high of $32.55. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 93.40, a price-to-earnings-growth ratio of 2.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.74 and a quick ratio of 0.74. The firm’s fifty day moving average price is $27.92 and its 200 day moving average price is $29.56.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. The firm had revenue of $6.81 million for the quarter, compared to the consensus estimate of $238.49 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. On average, research analysts forecast 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. Investors of record on Thursday, April 3rd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Thursday, April 3rd. Cousins Properties’s dividend payout ratio is presently 387.88%.

Institutional Investors Weigh In On Cousins Properties

Institutional investors have recently modified their holdings of the business. SCS Capital Management LLC bought a new position in Cousins Properties in the 1st quarter worth about $7,420,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cousins Properties by 8.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,343,619 shares of the real estate investment trust’s stock worth $39,637,000 after purchasing an additional 104,827 shares during the last quarter. Woodline Partners LP grew its position in Cousins Properties by 58.5% in the 1st quarter. Woodline Partners LP now owns 978,868 shares of the real estate investment trust’s stock worth $28,877,000 after purchasing an additional 361,342 shares during the last quarter. United Services Automobile Association bought a new position in Cousins Properties in the 1st quarter worth about $309,000. Finally, Great Lakes Advisors LLC grew its position in Cousins Properties by 23.9% in the 1st quarter. Great Lakes Advisors LLC now owns 8,822 shares of the real estate investment trust’s stock worth $260,000 after purchasing an additional 1,703 shares during the last quarter. Institutional investors own 94.38% of the company’s stock.

About Cousins Properties

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.