Cousins Properties Inc. (CUZ) Lowered to Sell at Zacks Investment Research
Cousins Properties Inc. (NYSE:CUZ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Cousins completed the previously announced merger with Parkway Properties Inc. It also spun-off the Houston-based assets of the combined company into a publicly-traded REIT. This move is a strategic fit as it allowed the company to not only boost its portfolio with premium properties, but also exit the Houston office market crippled by the decline in oil prices. But, the company faces intense competition from developers, owners and operators of office properties and other commercial real estate which affects its ability to attract and retain tenants at relatively higher rents than its competitors. Moreover, pressure on top line and any rise in interest rate are concerns before the company.”
Several other equities analysts also recently commented on CUZ. Robert W. Baird downgraded shares of Cousins Properties from an “outperform” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Wednesday, August 17th. Stifel Nicolaus downgraded shares of Cousins Properties from a “hold” rating to a “sell” rating and lowered their price objective for the company from $11.50 to $9.50 in a research note on Thursday, September 29th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Cousins Properties currently has a consensus rating of “Hold” and a consensus target price of $10.88.
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Shares of Cousins Properties (NYSE:CUZ) traded up 0.64% during trading on Wednesday, reaching $7.90. 2,843,635 shares of the company traded hands. Cousins Properties has a 12-month low of $7.19 and a 12-month high of $11.40. The firm’s 50 day moving average is $10.48 and its 200-day moving average is $10.53. The stock has a market capitalization of $1.66 billion, a P/E ratio of 11.93 and a beta of 1.14.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by $0.01. The firm had revenue of $92.70 million for the quarter, compared to the consensus estimate of $89.52 million. Cousins Properties had a net margin of 37.51% and a return on equity of 8.41%. The business’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the company posted $0.21 earnings per share. On average, equities research analysts anticipate that Cousins Properties will post $0.86 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its position in shares of Cousins Properties by 0.7% in the second quarter. Arizona State Retirement System now owns 103,638 shares of the real estate investment trust’s stock valued at $1,078,000 after buying an additional 700 shares in the last quarter. PineBridge Investments L.P. boosted its stake in shares of Cousins Properties by 3.1% in the second quarter. PineBridge Investments L.P. now owns 25,314 shares of the real estate investment trust’s stock worth $264,000 after buying an additional 771 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Cousins Properties by 2.4% in the second quarter. Hsbc Holdings PLC now owns 35,273 shares of the real estate investment trust’s stock worth $367,000 after buying an additional 825 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cousins Properties by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,653 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 966 shares during the period. Finally, Profund Advisors LLC boosted its stake in shares of Cousins Properties by 2.1% in the second quarter. Profund Advisors LLC now owns 54,383 shares of the real estate investment trust’s stock worth $566,000 after buying an additional 1,134 shares during the period. Institutional investors own 99.72% of the company’s stock.
About Cousins Properties
Cousins Properties Incorporated (Cousins) is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on development, acquisition, leasing and property management. The Company’s investment strategy is to purchase Class A office assets or locate opportunistic development or redevelopment projects in its core markets to which it can add value through relationships, capital, or market expertise.
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