Cousins Properties (NYSE:CUZ) Hits New 52-Week High – Here’s Why

Cousins Properties Incorporated (NYSE:CUZ) shares hit a new 52-week high 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.

Wall Street Analyst Weigh In

CUZ has been the topic of several recent research reports. Robert W. Baird upped their price objective on shares of Cousins Properties from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, November 4th. StockNews.com upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Truist Financial lifted their price objective 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. Evercore ISI increased their target price on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company lifted their price target on Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Cousins Properties Price Performance

The stock has a market capitalization of $4.86 billion, a PE ratio of 96.21, a price-to-earnings-growth ratio of 4.25 and a beta of 1.29. The business’s 50-day moving average price is $30.50 and its 200 day moving average price is $27.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17.

Cousins Properties (NYSE:CUZ) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 EPS 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 business had revenue of $209.21 million for the quarter, compared to analysts’ expectations of $212.54 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Cousins Properties’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that Cousins Properties Incorporated will post 2.68 earnings per share for the current year.

Cousins Properties Dividend Announcement

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

Insider Buying and Selling at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the sale, the chief accounting officer now owns 12,529 shares in the company, valued at $352,440.77. This trade represents a 32.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cousins Properties

Several institutional investors have recently modified their holdings of CUZ. Blue Trust Inc. lifted its position 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 buying an additional 858 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Cousins Properties by 3,236.7% during the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 1,586 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Cousins Properties by 49.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,319 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 438 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Cousins Properties in the 1st quarter valued at $43,000. Finally, Signaturefd LLC grew its holdings in shares of Cousins Properties by 30.8% during the 3rd quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 651 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.

Cousins Properties Company Profile

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.