Cousins Properties Incorporated (CUZ) Lifted to “Hold” at Zacks Investment Research
Cousins Properties Incorporated (NYSE:CUZ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Shares of Cousin Properties have outperformed the industry it belongs to, year to date. Nonetheless, the stock has seen the Zacks Consensus Estimate for third-quarter and current-year funds from operations (FFO) per share remaining unchanged in a month’s time. Its third-quarter results highlight an improvement in rental revenues. The company also lifted its FFO guidance for full-year 2017. The company’s unmatched portfolio of Class A office assets located in the Sun Belt markets enables it to enjoy high demand. Moreover, efforts to fortify its position in markets with robust rent growth augur well. However, Cousin Properties faces stiff competition from other market players. This impacts the company’s ability to retain and attract tenants at higher rents. Further, hike in interest rates remain a concern. “
CUZ has been the subject of a number of other reports. ValuEngine raised Cousins Properties from a “hold” rating to a “buy” rating in a research note on Tuesday, October 10th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Cousins Properties in a research note on Monday, October 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $10.50 price objective on shares of Cousins Properties in a research note on Thursday, September 21st. Bank of America Corporation lifted their price objective on Cousins Properties from $9.50 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, October 3rd. Finally, BidaskClub raised Cousins Properties from a “hold” rating to a “buy” rating in a research note on Monday, August 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $10.10.
Cousins Properties (NYSE CUZ) traded up $0.02 during mid-day trading on Wednesday, reaching $9.22. The company’s stock had a trading volume of 1,407,400 shares, compared to its average volume of 3,623,833. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $3,864.19, a PE ratio of 14.60 and a beta of 1.10. Cousins Properties has a one year low of $7.65 and a one year high of $9.59.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.12). Cousins Properties had a net margin of 48.08% and a return on equity of 8.39%. The firm had revenue of $113.20 million during the quarter, compared to analyst estimates of $113.51 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 132.4% compared to the same quarter last year. analysts predict that Cousins Properties will post 0.61 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUZ. BlackRock Inc. grew its stake in Cousins Properties by 7.1% during the 2nd quarter. BlackRock Inc. now owns 54,000,967 shares of the real estate investment trust’s stock worth $474,666,000 after purchasing an additional 3,602,825 shares in the last quarter. Prudential Financial Inc. grew its stake in Cousins Properties by 1,045.9% during the 2nd quarter. Prudential Financial Inc. now owns 3,407,185 shares of the real estate investment trust’s stock worth $29,949,000 after purchasing an additional 3,109,844 shares in the last quarter. Voya Investment Management LLC grew its stake in Cousins Properties by 1,941.7% during the 2nd quarter. Voya Investment Management LLC now owns 2,838,658 shares of the real estate investment trust’s stock worth $24,951,000 after purchasing an additional 2,699,627 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Cousins Properties by 10.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,258,089 shares of the real estate investment trust’s stock worth $213,228,000 after purchasing an additional 2,356,643 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Cousins Properties by 124.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,878,281 shares of the real estate investment trust’s stock worth $25,301,000 after purchasing an additional 1,597,562 shares in the last quarter.
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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