Bank of America Corporation Raises Cousins Properties Incorporated (CUZ) Price Target to $10.00
Cousins Properties Incorporated (NYSE:CUZ) had its price target hoisted by Bank of America Corporation from $9.50 to $10.00 in a research note released on Tuesday. The brokerage currently has a neutral rating on the real estate investment trust’s stock.
CUZ has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Cousins Properties from a hold rating to a buy rating and set a $10.00 price objective on the stock in a research note on Wednesday, July 5th. BidaskClub lowered shares of Cousins Properties from a buy rating to a hold rating in a research note on Tuesday, July 11th. SunTrust Banks, Inc. restated a buy rating and issued a $10.00 price objective on shares of Cousins Properties in a research note on Monday. Finally, Stifel Nicolaus restated a buy rating and issued a $10.50 price objective on shares of Cousins Properties in a research note on Thursday, September 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Cousins Properties currently has an average rating of Buy and a consensus target price of $10.10.
Cousins Properties (CUZ) traded down 0.53% during midday trading on Tuesday, reaching $9.45. 4,206,107 shares of the company’s stock traded hands. Cousins Properties has a 1-year low of $7.09 and a 1-year high of $9.57. The firm’s 50 day moving average price is $9.28 and its 200-day moving average price is $8.83. The company has a market capitalization of $3.97 billion, a PE ratio of 15.17 and a beta of 1.06.
Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $119.00 million for the quarter, compared to analyst estimates of $114.68 million. Cousins Properties had a net margin of 49.99% and a return on equity of 9.37%. Cousins Properties’s quarterly revenue was up 146.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. Equities analysts expect that Cousins Properties will post $0.45 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Monday, October 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, September 29th. Cousins Properties’s payout ratio is 42.11%.
Large investors have recently modified their holdings of the company. Timber Hill LLC purchased a new stake in shares of Cousins Properties in the second quarter valued at about $118,000. Advisor Group Inc. boosted its holdings in shares of Cousins Properties by 40.3% in the second quarter. Advisor Group Inc. now owns 14,567 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 4,183 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cousins Properties in the first quarter valued at about $121,000. Oakbrook Investments LLC boosted its holdings in shares of Cousins Properties by 2.0% in the second quarter. Oakbrook Investments LLC now owns 15,500 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 300 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its holdings in shares of Cousins Properties by 94.8% in the second quarter. Riverhead Capital Management LLC now owns 22,400 shares of the real estate investment trust’s stock valued at $197,000 after acquiring an additional 10,900 shares in the last quarter.
Cousins Properties Company Profile
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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