Cousins Properties (NYSE:CUZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Shares of Cousin Properties have outperformed the industry it belongs to, in the past three months. However, the trend in estimate revisions of current-year funds from operations (FFO) per share does not indicate a favorable earnings outlook for the company. Notably, the company faces stiff competition from other market players. This impacts its ability to retain and attract tenants at higher rents. Moreover, despite the improvement in the job market, going forward fundamentals of the office real estate market is anticipated to be adversely affected because of the rise in new deliveries of office space. Also, hike in interest rates remains a concern. Nonetheless, the company’s Class A office assets located in the Sun Belt region has the capacity to drive long-term growth.”
Separately, Wells Fargo & Co initiated coverage on Cousins Properties in a report on Friday, April 20th. They issued a “market perform” rating and a $9.50 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.
Shares of NYSE:CUZ traded up $0.02 during midday trading on Wednesday, hitting $9.63. The company had a trading volume of 91,708 shares, compared to its average volume of 5,673,719. Cousins Properties has a twelve month low of $8.23 and a twelve month high of $9.88. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.18 and a current ratio of 2.18. The stock has a market cap of $4.06 billion, a PE ratio of 15.79, a P/E/G ratio of 4.14 and a beta of 0.95.
Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Cousins Properties had a return on equity of 8.07% and a net margin of 49.63%. The firm had revenue of $113.35 million during the quarter, compared to analysts’ expectations of $113.10 million. During the same quarter last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. analysts predict that Cousins Properties will post 0.61 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake in Cousins Properties by 2.9% during the first quarter. Principal Financial Group Inc. now owns 1,852,458 shares of the real estate investment trust’s stock worth $16,080,000 after acquiring an additional 52,157 shares during the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in Cousins Properties by 53.4% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 2,781,325 shares of the real estate investment trust’s stock worth $24,142,000 after acquiring an additional 967,783 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Cousins Properties by 40.2% during the first quarter. Xact Kapitalforvaltning AB now owns 49,875 shares of the real estate investment trust’s stock worth $433,000 after acquiring an additional 14,300 shares during the last quarter. Legal & General Group Plc increased its stake in Cousins Properties by 13.7% during the first quarter. Legal & General Group Plc now owns 1,623,173 shares of the real estate investment trust’s stock worth $14,089,000 after acquiring an additional 195,363 shares during the last quarter. Finally, Brookfield Asset Management Inc. acquired a new stake in Cousins Properties during the first quarter worth $2,476,000.
Cousins Properties Company Profile
Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, acting through its operating partnership, Cousins Properties LP, primarily invests in Class-A office towers located in high growth Sunbelt markets.
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