Cousins Properties (NYSE:CUZ) Hits New 12-Month High – Still a Buy?

Cousins Properties Incorporated (NYSE:CUZ) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.46 and last traded at $32.45, with a volume of 66443 shares changing hands. The stock had previously closed at $31.72.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Truist Financial lifted their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Robert W. Baird increased their price objective on shares of Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays raised their target price on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company upped their price target on Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Cousins Properties Stock Performance

The firm has a market cap of $4.86 billion, a P/E ratio of 96.21, a PEG ratio of 4.25 and a beta of 1.29. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average is $30.50 and its two-hundred day moving average is $27.06.

Cousins Properties (NYSE:CUZ) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). The company had revenue of $209.21 million during the quarter, compared to the consensus estimate of $212.54 million. Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. As a group, equities analysts predict that Cousins Properties Incorporated will post 2.68 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.01%. Cousins Properties’s payout ratio is 387.88%.

Insider Activity at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the 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 32.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its holdings in shares of Cousins Properties by 130.8% in the 2nd quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 858 shares during the last quarter. Versant Capital Management Inc boosted its stake in Cousins Properties by 3,236.7% in the second 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 during the last quarter. Larson Financial Group LLC grew its position in shares of Cousins Properties by 49.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,319 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 438 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in shares of Cousins Properties during the 1st quarter worth approximately $43,000. Finally, Signaturefd LLC raised 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 purchasing an additional 651 shares during the period. Institutional investors 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.