Wells Fargo & Company Forecasts Strong Price Appreciation for Cousins Properties (NYSE:CUZ) Stock

Cousins Properties (NYSE:CUZ) had its price objective upped by analysts at Wells Fargo & Company from $31.00 to $34.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.47% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird lifted their target price on shares of Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday. Evercore ISI lifted their target price on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays lifted their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Truist Financial lifted their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cousins Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Cousins Properties Price Performance

Shares of NYSE CUZ opened at $31.06 on Monday. Cousins Properties has a twelve month low of $17.85 and a twelve month high of $32.17. The firm has a fifty day simple moving average of $29.69 and a 200 day simple moving average of $26.21. The company has a market capitalization of $4.73 billion, a PE ratio of 94.12, a P/E/G ratio of 4.54 and a beta of 1.29. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60.

Cousins Properties (NYSE:CUZ) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. The firm had revenue of $209.21 million for the quarter, compared to the consensus estimate of $212.54 million. During the same period in the prior year, the business earned $0.65 EPS. Cousins Properties’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Cousins Properties will post 2.67 EPS for the current year.

Insider Buying and Selling at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at $352,440.77. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Cousins Properties

Several hedge funds and other institutional investors have recently made changes to their positions in CUZ. State of Michigan Retirement System increased its position in shares of Cousins Properties by 2.2% during the first quarter. State of Michigan Retirement System now owns 37,244 shares of the real estate investment trust’s stock worth $895,000 after acquiring an additional 800 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Cousins Properties by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 88,588 shares of the real estate investment trust’s stock worth $2,128,000 after acquiring an additional 486 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Cousins Properties by 124.6% during the first quarter. BNP Paribas Financial Markets now owns 246,382 shares of the real estate investment trust’s stock worth $5,923,000 after purchasing an additional 136,685 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Cousins Properties by 6.8% during the first quarter. Daiwa Securities Group Inc. now owns 49,270 shares of the real estate investment trust’s stock worth $1,184,000 after purchasing an additional 3,152 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Cousins Properties by 75.6% during the first quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust’s stock worth $46,107,000 after purchasing an additional 825,547 shares during the last quarter. 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.