Wells Fargo & Company Has Lowered Expectations for Cousins Properties (NYSE:CUZ) Stock Price

Cousins Properties (NYSE:CUZ) had its price target reduced by stock analysts at Wells Fargo & Company from $34.00 to $32.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 12.68% from the company’s current price.

Other research analysts have also recently issued reports about the company. Barclays lowered their price objective on Cousins Properties from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Wolfe Research raised shares of Cousins Properties from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Monday, April 7th. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. Jefferies Financial Group assumed coverage on Cousins Properties in a research report on Monday, March 17th. They set a “buy” rating and a $35.00 target price for the company. Finally, Evercore ISI upped their target price on Cousins Properties from $30.00 to $31.00 and gave the stock an “in-line” rating in a report on Monday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cousins Properties presently has an average rating of “Moderate Buy” and a consensus price target of $32.60.

Cousins Properties Trading Down 0.9%

CUZ opened at $28.40 on Monday. The stock has a market cap of $4.77 billion, a PE ratio of 94.66, a PEG ratio of 2.98 and a beta of 1.34. The business has a 50 day moving average of $27.93 and a 200-day moving average of $29.57. Cousins Properties has a 52 week low of $22.01 and a 52 week high of $32.55. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.64.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. The firm had revenue of $6.81 million during the quarter, compared to analysts’ expectations of $238.49 million. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts predict that Cousins Properties will post 2.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cousins Properties

Large investors have recently modified their holdings of the stock. Resolution Capital Ltd acquired a new position in Cousins Properties during the 4th quarter worth approximately $135,094,000. GRS Advisors LLC acquired a new position in shares of Cousins Properties during the 4th quarter valued at about $63,759,000. Norges Bank purchased a new stake in Cousins Properties during the fourth quarter valued at about $57,194,000. Rush Island Management LP boosted its position in Cousins Properties by 91.4% during the 4th quarter. Rush Island Management LP now owns 3,011,843 shares of the real estate investment trust’s stock worth $92,283,000 after purchasing an additional 1,438,127 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Cousins Properties by 11.1% during the fourth quarter. Principal Financial Group Inc. now owns 13,491,300 shares of the real estate investment trust’s stock valued at $413,375,000 after purchasing an additional 1,350,352 shares during the period. Hedge funds and other 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.