Cousins Properties (NYSE:CUZ) Given New $30.00 Price Target at Truist Financial

Cousins Properties (NYSE:CUZ) had its target price hoisted by Truist Financial from $26.00 to $30.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

CUZ has been the subject of several other research reports. StockNews.com upgraded Cousins Properties from a sell rating to a hold rating in a report on Thursday, May 23rd. Evercore ISI restated an in-line rating and set a $29.00 price objective on shares of Cousins Properties in a report on Tuesday, August 20th. Barclays raised their price objective on shares of Cousins Properties from $25.00 to $30.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Finally, Robert W. Baird boosted their target price on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $26.43.

Cousins Properties Stock Up 1.5 %

Cousins Properties stock opened at $28.51 on Friday. The company has a market capitalization of $4.34 billion, a PE ratio of 58.18, a PEG ratio of 4.62 and a beta of 1.30. Cousins Properties has a 12-month low of $17.40 and a 12-month high of $28.57. The firm’s fifty day moving average is $25.57 and its 200 day moving average is $23.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.61). Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The company had revenue of $212.98 million for the quarter, compared to analyst estimates of $208.18 million. During the same quarter in the prior year, the company posted $2.75 EPS. Cousins Properties’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts predict that Cousins Properties will post 2.67 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 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 4.49%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cousins Properties’s payout ratio is currently 261.22%.

Institutional Investors Weigh In On Cousins Properties

Institutional investors have recently added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in shares of Cousins Properties by 5.3% in the fourth quarter. Truist Financial Corp now owns 15,558 shares of the real estate investment trust’s stock valued at $379,000 after acquiring an additional 781 shares in the last quarter. Retirement Systems of Alabama grew its stake in Cousins Properties by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 190,091 shares of the real estate investment trust’s stock valued at $4,629,000 after purchasing an additional 584 shares during the period. Van ECK Associates Corp increased its position in shares of Cousins Properties by 24.2% during the 4th quarter. Van ECK Associates Corp now owns 24,038 shares of the real estate investment trust’s stock valued at $586,000 after purchasing an additional 4,676 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Cousins Properties by 12.8% during the 4th quarter. Victory Capital Management Inc. now owns 33,475 shares of the real estate investment trust’s stock worth $815,000 after purchasing an additional 3,804 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Cousins Properties in the 4th quarter worth about $1,753,000. 94.38% of the stock is owned by institutional investors.

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.