Cousins Properties Inc. (CUZ) Downgraded by Stifel Nicolaus to Sell
Stifel Nicolaus downgraded shares of Cousins Properties Inc. (NYSE:CUZ) from a hold rating to a sell rating in a report published on Thursday morning. They currently have $9.50 price objective on the real estate investment trust’s stock, down from their previous price objective of $11.50. The analysts noted that the move was a valuation call.
Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Cousins Properties from a buy rating to a hold rating in a research note on Friday, July 29th. Robert W. Baird lowered shares of Cousins Properties from an outperform rating to a neutral rating and set a $11.00 price objective on the stock. in a research note on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $10.88.
Cousins Properties (NYSE:CUZ) remained flat at $10.47 on Thursday. The stock had a trading volume of 319,247 shares. The stock has a 50-day moving average of $10.76 and a 200 day moving average of $10.56. Cousins Properties has a 12-month low of $7.53 and a 12-month high of $11.40. The stock has a market cap of $2.20 billion, a PE ratio of 15.82 and a beta of 1.26.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.01. Cousins Properties had a net margin of 37.51% and a return on equity of 8.41%. The business earned $92.70 million during the quarter, compared to analyst estimates of $89.52 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. On average, equities analysts predict that Cousins Properties will post $0.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, August 19th. Cousins Properties’s dividend payout ratio is 47.76%.
A number of institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in Cousins Properties by 0.9% in the second quarter. Macquarie Group Ltd. now owns 251,250 shares of the real estate investment trust’s stock worth $2,613,000 after buying an additional 2,250 shares in the last quarter. Mason Street Advisors LLC acquired a new position in shares of Cousins Properties during the second quarter valued at about $406,000. Royal Bank of Canada boosted its position in shares of Cousins Properties by 1,058.0% in the second quarter. Royal Bank of Canada now owns 47,839 shares of the real estate investment trust’s stock valued at $497,000 after buying an additional 43,708 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Cousins Properties by 5.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,878,924 shares of the real estate investment trust’s stock valued at $19,541,000 after buying an additional 90,422 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Cousins Properties by 6.1% in the second quarter. Amalgamated Bank now owns 24,665 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 1,411 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.
Cousins Properties Company Profile
Cousins Properties Incorporated (Cousins) is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on development, acquisition, leasing and property management. The Company’s investment strategy is to purchase Class A office assets or locate opportunistic development or redevelopment projects in its core markets to which it can add value through relationships, capital, or market expertise.
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