Cousins Properties (NYSE:CUZ) Sets New 12-Month High at $30.15

Shares of Cousins Properties Incorporated (NYSE:CUZ) reached a new 52-week high during trading on Tuesday . The company traded as high as $30.15 and last traded at $30.10, with a volume of 219992 shares trading hands. The stock had previously closed at $29.83.

Wall Street Analyst Weigh In

Several research firms have commented on CUZ. Barclays raised their target price on shares of Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Robert W. Baird increased their price objective on shares of Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI increased their price target on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their price target on shares of Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Finally, Truist Financial increased their target price on shares of Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.29.

Cousins Properties Trading Up 1.9 %

The firm has a market cap of $4.62 billion, a P/E ratio of 60.87, a PEG ratio of 4.73 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50 day moving average of $27.42 and a 200 day moving average of $24.63.

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

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Thursday, October 3rd. Cousins Properties’s payout ratio is 261.22%.

Insider Activity

In other news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the sale, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. purchased a new stake in Cousins Properties during the 4th quarter valued at $31,000. Blue Trust Inc. increased its holdings in Cousins Properties by 130.8% during the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 858 shares during the period. Versant Capital Management Inc raised its stake in Cousins Properties by 3,236.7% in the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,586 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in Cousins Properties during the 1st quarter valued at $43,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cousins Properties in the 2nd quarter worth $115,000. Institutional investors own 94.38% of the company’s stock.

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.