Zacks Research Comments on Cousins Properties Incorporated’s Q3 2023 Earnings (NYSE:CUZ)

Cousins Properties Incorporated (NYSE:CUZ – Get Rating) – Zacks Research cut their Q3 2023 earnings per share (EPS) estimates for shares of Cousins Properties in a report issued on Tuesday, March 14th. Zacks Research analyst N. Dass now forecasts that the real estate investment trust will post earnings of $0.64 per share for the quarter, down from their prior estimate of $0.65. The consensus estimate for Cousins Properties’ current full-year earnings is $2.59 per share. Zacks Research also issued estimates for Cousins Properties’ Q4 2023 earnings at $0.65 EPS, FY2023 earnings at $2.57 EPS, Q1 2024 earnings at $0.65 EPS, Q2 2024 earnings at $0.68 EPS, Q3 2024 earnings at $0.68 EPS, Q4 2024 earnings at $0.73 EPS, FY2024 earnings at $2.74 EPS and FY2025 earnings at $2.91 EPS.

Several other research analysts have also issued reports on CUZ. BMO Capital Markets began coverage on Cousins Properties in a report on Monday, December 12th. They issued an “outperform” rating and a $29.00 price target on the stock. StockNews.com initiated coverage on Cousins Properties in a report on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company lowered their price objective on Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday. Mizuho downgraded Cousins Properties from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $29.00 to $22.00 in a research note on Wednesday, January 4th. Finally, JPMorgan Chase & Co. decreased their price target on Cousins Properties to $29.00 in a research report on Thursday, December 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $28.75.

Cousins Properties Stock Down 5.0 %

Shares of Cousins Properties stock opened at $19.45 on Friday. The stock’s 50-day moving average is $25.25 and its 200 day moving average is $24.99. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.73 and a quick ratio of 0.73. Cousins Properties has a one year low of $19.16 and a one year high of $41.69.

Institutional Investors Weigh In On Cousins Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. Asset Dedication LLC bought a new position in shares of Cousins Properties in the 3rd quarter valued at about $25,000. Ellevest Inc. boosted its stake in Cousins Properties by 8,100.0% in the third quarter. Ellevest Inc. now owns 1,148 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,134 shares in the last quarter. CWM LLC lifted its stake in shares of Cousins Properties by 461.1% during the third quarter. CWM LLC now owns 1,285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 1,056 shares during the period. Red Tortoise LLC acquired a new stake in shares of Cousins Properties during the fourth quarter worth $32,000. Finally, Fifth Third Bancorp lifted its stake in shares of Cousins Properties by 441.6% during the fourth quarter. Fifth Third Bancorp now owns 1,419 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 1,157 shares during the period. 97.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cousins Properties

In other Cousins Properties news, EVP John S. Mccoll sold 36,975 shares of Cousins Properties stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $24.93, for a total transaction of $921,786.75. Following the sale, the executive vice president now directly owns 30,814 shares of the company’s stock, valued at approximately $768,193.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is owned by company insiders.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Wednesday, January 4th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, January 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 6.58%. Cousins Properties’s dividend payout ratio is presently 115.32%.

About Cousins Properties

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Cousins Properties, Inc engages in the development, acquisition, leasing and management of real estate assets. It invests in urban office towers located in Sunbelt markets. The company was founded by Thomas G. Cousins in 1958 and is headquartered in Atlanta, GA.