Cousins Properties (NYSE:CUZ) Hits New 52-Week High – Time to Buy?

Cousins Properties Incorporated (NYSE:CUZ) shares hit a new 52-week high on Friday . The company traded as high as $32.17 and last traded at $32.17, with a volume of 508447 shares changing hands. The stock had previously closed at $31.37.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CUZ. Robert W. Baird upped their price target on shares of Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Truist Financial lifted their price target on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company increased their price objective on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Evercore ISI boosted their target price on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Barclays lifted their price objective on shares of Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Cousins Properties Stock Up 1.2 %

The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 64.04, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30. The firm’s 50 day moving average price is $29.16 and its two-hundred day moving average price is $25.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58.

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

Cousins Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.03%. Cousins Properties’s dividend payout ratio (DPR) is 261.22%.

Insider Buying and Selling at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Cousins Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its position in shares of Cousins Properties by 130.8% in the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 858 shares in the last quarter. Versant Capital Management Inc raised its holdings in Cousins Properties by 3,236.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,586 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Cousins Properties in the 1st quarter valued at $43,000. 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 worth $82,000 after purchasing an additional 651 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cousins Properties during the 2nd quarter worth $115,000. Institutional investors and hedge funds 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.