Cousins Properties Incorporated (CUZ) Lowered to “Hold” at BidaskClub
Cousins Properties Incorporated (NYSE:CUZ) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday, July 11th.
CUZ has been the subject of several other reports. Robert W. Baird upgraded Cousins Properties from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $10.00 in a research note on Tuesday, May 16th. Zacks Investment Research raised Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Wednesday, July 5th. Finally, ValuEngine cut Cousins Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $10.17.
Cousins Properties (NYSE CUZ) opened at 9.21 on Tuesday. Cousins Properties has a 12-month low of $7.09 and a 12-month high of $11.40. The firm’s 50-day moving average is $8.91 and its 200 day moving average is $8.57. The stock has a market capitalization of $3.87 billion, a P/E ratio of 14.78 and a beta of 1.07.
Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The business had revenue of $119 million during the quarter, compared to the consensus estimate of $114.68 million. Cousins Properties had a return on equity of 9.37% and a net margin of 49.99%. The firm’s quarterly revenue was up 146.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. Equities research analysts anticipate that Cousins Properties will post $0.13 earnings per share for the current year.
In other news, Director Lillian C. Giornelli sold 5,006 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $8.38, for a total transaction of $41,950.28. Following the completion of the transaction, the director now owns 102,307 shares of the company’s stock, valued at approximately $857,332.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.14% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Cousins Properties by 20.8% in the first quarter. Vanguard Group Inc. now owns 65,875,457 shares of the real estate investment trust’s stock worth $544,790,000 after buying an additional 11,347,714 shares during the last quarter. BlackRock Inc. boosted its position in shares of Cousins Properties by 7,631.5% in the first quarter. BlackRock Inc. now owns 50,398,142 shares of the real estate investment trust’s stock worth $416,791,000 after buying an additional 49,746,289 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Cousins Properties by 10.8% in the second quarter. Daiwa Securities Group Inc. now owns 24,258,089 shares of the real estate investment trust’s stock worth $213,228,000 after buying an additional 2,356,643 shares during the last quarter. State Street Corp raised its stake in Cousins Properties by 13.4% in the first quarter. State Street Corp now owns 17,661,570 shares of the real estate investment trust’s stock worth $146,057,000 after buying an additional 2,087,693 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Cousins Properties by 47.2% in the first quarter. Bank of New York Mellon Corp now owns 9,827,269 shares of the real estate investment trust’s stock worth $81,272,000 after buying an additional 3,150,702 shares during the period.
About Cousins Properties
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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