Cousins Properties (NYSE:CUZ) Sets New 52-Week High – Should You Buy?

Cousins Properties Incorporated (NYSE:CUZ)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $30.75 and last traded at $30.64, with a volume of 52857 shares changing hands. The stock had previously closed at $30.25.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CUZ shares. Barclays raised their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their price target on Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Evercore ISI raised their price objective 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. Truist Financial boosted their price objective on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Robert W. Baird raised their target price on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cousins Properties currently has an average rating of “Moderate Buy” and an average target price of $29.00.

Cousins Properties Stock Up 2.8 %

The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 63.59, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30. The firm has a 50 day simple moving average of $28.47 and a 200-day simple moving average of $25.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.61). The firm had revenue of $212.98 million for the quarter, compared to the consensus estimate of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.75 earnings per share. On average, sell-side analysts forecast that Cousins Properties Incorporated will post 2.67 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.12%. Cousins Properties’s dividend payout ratio is 261.22%.

Insiders Place Their Bets

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the company’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 transaction, the chief accounting officer now owns 12,529 shares in the company, valued at $352,440.77. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Cousins Properties by 2.0% during the first quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock worth $561,412,000 after acquiring an additional 456,251 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in Cousins Properties by 8.9% during the 1st quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust’s stock worth $112,377,000 after purchasing an additional 399,468 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Cousins Properties by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,214,595 shares of the real estate investment trust’s stock valued at $51,266,000 after purchasing an additional 98,222 shares during the period. Jennison Associates LLC boosted its stake in shares of Cousins Properties by 75.6% in the 1st quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust’s stock valued at $46,107,000 after purchasing an additional 825,547 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Cousins Properties by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,677,240 shares of the real estate investment trust’s stock worth $38,828,000 after buying an additional 28,554 shares during the period. Institutional investors own 94.38% of the company’s stock.

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.