Barclays Increases Cousins Properties (NYSE:CUZ) Price Target to $35.00

Cousins Properties (NYSE:CUZ) had its target price lifted by investment analysts at Barclays from $30.00 to $35.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price suggests a potential upside of 18.44% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Robert W. Baird boosted their price target on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on shares of Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Evercore ISI increased their target price on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Cousins Properties has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Cousins Properties Stock Up 0.7 %

NYSE:CUZ opened at $29.55 on Thursday. The firm has a market capitalization of $4.49 billion, a P/E ratio of 60.31, a PEG ratio of 4.41 and a beta of 1.30. The company’s fifty day moving average price is $28.39 and its 200-day moving average price is $25.19. Cousins Properties has a 1-year low of $17.40 and a 1-year high of $30.50. 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 for the quarter, missing the consensus estimate of $0.66 by ($0.61). The company had revenue of $212.98 million for the quarter, compared to analyst estimates of $208.18 million. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. Cousins Properties’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 posted $2.75 earnings per share. As a group, equities research analysts anticipate that Cousins Properties will post 2.67 EPS for the current year.

Insider Activity

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $28.13, for a total value of $168,695.61. Following the completion of the transaction, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Cousins Properties

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

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.