Cousins Properties’ (CUZ) “Buy” Rating Reiterated at SunTrust Banks, Inc.
SunTrust Banks, Inc. reiterated their buy rating on shares of Cousins Properties Incorporated (NYSE:CUZ) in a report published on Monday. SunTrust Banks, Inc. currently has a $10.00 price target on the real estate investment trust’s stock. SunTrust Banks also issued estimates for Cousins Properties’ FY2019 earnings at $0.71 EPS and FY2020 earnings at $0.75 EPS.
Several other research firms have also weighed in on CUZ. Stifel Nicolaus restated a buy rating and set a $10.50 price objective on shares of Cousins Properties in a research note on Thursday, September 21st. BidaskClub upgraded shares of Cousins Properties from a hold rating to a buy rating in a research note on Monday, August 14th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $10.10.
Shares of Cousins Properties (NYSE:CUZ) opened at 9.51 on Monday. The firm has a market capitalization of $3.99 billion, a P/E ratio of 15.26 and a beta of 1.06. The stock has a 50 day moving average price of $9.27 and a 200 day moving average price of $8.82. Cousins Properties has a 12 month low of $7.09 and a 12 month high of $10.18.
Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 146.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. On average, analysts expect that Cousins Properties will post $0.45 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Monday, October 2nd will be paid a $0.06 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.24 dividend on an annualized basis and a yield of 2.52%. Cousins Properties’s dividend payout ratio (DPR) is currently 42.11%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its stake in Cousins Properties by 6.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 502,398 shares of the real estate investment trust’s stock valued at $4,416,000 after buying an additional 30,377 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Cousins Properties by 3.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 226,271 shares of the real estate investment trust’s stock valued at $1,989,000 after purchasing an additional 8,304 shares during the period. California State Teachers Retirement System boosted its holdings in Cousins Properties by 4.0% in the 2nd quarter. California State Teachers Retirement System now owns 741,020 shares of the real estate investment trust’s stock valued at $6,514,000 after purchasing an additional 28,389 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Cousins Properties by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 923,372 shares of the real estate investment trust’s stock valued at $8,117,000 after purchasing an additional 68,937 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Cousins Properties in the 2nd quarter valued at about $222,000.
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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