Cousins Properties (NYSE:CUZ) Sets New 1-Year High – Here’s What Happened

Shares of Cousins Properties Incorporated (NYSE:CUZ) hit a new 52-week high during trading on Monday . The stock traded as high as $32.46 and last traded at $32.45, with a volume of 66443 shares. The stock had previously closed at $31.72.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Truist Financial boosted their price target on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI increased their price objective on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. StockNews.com upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Barclays increased their target price on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cousins Properties has an average rating of “Moderate Buy” and an average price target of $31.50.

Cousins Properties Stock Performance

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average is $30.40 and its two-hundred day moving average is $26.95. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 96.67, a P/E/G ratio of 4.23 and a beta of 1.29.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $212.54 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts predict that Cousins Properties Incorporated will post 2.68 earnings per share for the current year.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.32 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.01%. Cousins Properties’s dividend payout ratio is currently 387.88%.

Insider Buying and Selling

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the transaction, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at $352,440.77. This represents a 32.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Cousins Properties

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Cousins Properties by 130.8% in the 2nd quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 858 shares in the last quarter. Versant Capital Management Inc raised its position in shares of 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 valued at $38,000 after buying an additional 1,586 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Cousins Properties by 49.7% in the third quarter. Larson Financial Group LLC now owns 1,319 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 438 shares during the period. Abich Financial Wealth Management LLC bought a new position in Cousins Properties during the 1st quarter worth $43,000. Finally, Signaturefd LLC increased its stake in Cousins Properties by 30.8% during the 3rd quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 651 shares during the period. Institutional investors and hedge funds 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.