Cousins Properties (NYSE:CUZ) Price Target Raised to $34.00

Cousins Properties (NYSE:CUZ) had its target price boosted by investment analysts at Wells Fargo & Company from $31.00 to $34.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 13.41% from the stock’s previous close.

A number of other brokerages have also recently commented on CUZ. Evercore ISI upped their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Robert W. Baird increased their price objective on Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays lifted their target price on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Truist Financial increased their price target on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Cousins Properties Price Performance

CUZ stock opened at $29.98 on Monday. The company has a market capitalization of $4.56 billion, a P/E ratio of 90.85, a PEG ratio of 4.64 and a beta of 1.29. The company has a fifty day moving average price of $29.57 and a 200-day moving average price of $26.09. 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 has a 52-week low of $17.85 and a 52-week high of $32.17.

Cousins Properties (NYSE:CUZ) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.60). The company had revenue of $209.21 million for the quarter, compared to the consensus estimate of $212.54 million. Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 earnings per share. As a group, equities analysts expect that Cousins Properties will post 2.67 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares in the company, valued at approximately $352,440.77. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CUZ. State of Alaska Department of Revenue increased its holdings in shares of Cousins Properties by 0.6% in the first quarter. State of Alaska Department of Revenue now owns 88,588 shares of the real estate investment trust’s stock worth $2,128,000 after purchasing an additional 486 shares during the period. Federated Hermes Inc. increased its holdings in shares of Cousins Properties by 2.2% in the 2nd quarter. Federated Hermes Inc. now owns 23,534 shares of the real estate investment trust’s stock worth $545,000 after buying an additional 501 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Cousins Properties by 30.8% in the 3rd quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 651 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Cousins Properties by 5.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,952 shares of the real estate investment trust’s stock valued at $369,000 after buying an additional 769 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Cousins Properties by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 133,620 shares of the real estate investment trust’s stock worth $3,093,000 after acquiring an additional 790 shares during the last quarter. 94.38% of the stock is owned by institutional investors.

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.