Cousins Properties Inc. (CUZ) Rating 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 report issued to clients and 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 research analysts also recently issued reports on CUZ. Robert W. Baird downgraded Cousins Properties from an “outperform” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Wednesday, August 17th. Stifel Nicolaus downgraded Cousins Properties from a “hold” rating to a “sell” rating and cut their price target for the company from $11.50 to $9.50 in a report 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 assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $10.88.
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Cousins Properties (NYSE:CUZ) traded up 0.76% during midday trading on Wednesday, hitting $7.91. 2,854,009 shares of the stock 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 PE ratio of 11.95 and a beta of 1.14.
Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.01. Cousins Properties had a net margin of 37.51% and a return on equity of 8.41%. The business had revenue of $92.70 million for the quarter, compared to analyst estimates of $89.52 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts anticipate that Cousins Properties will post $0.86 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Cousins Properties by 0.8% in the second quarter. Vanguard Group Inc. now owns 31,529,052 shares of the real estate investment trust’s stock worth $327,902,000 after buying an additional 263,777 shares in the last quarter. BlackRock Fund Advisors increased its stake in Cousins Properties by 0.7% in the second quarter. BlackRock Fund Advisors now owns 14,105,162 shares of the real estate investment trust’s stock worth $146,694,000 after buying an additional 93,443 shares in the last quarter. Systematic Financial Management LP increased its stake in Cousins Properties by 4,510.8% in the second quarter. Systematic Financial Management LP now owns 8,821,996 shares of the real estate investment trust’s stock worth $91,748,000 after buying an additional 8,630,661 shares in the last quarter. Lasalle Investment Management Securities LLC increased its stake in Cousins Properties by 4.4% in the second quarter. Lasalle Investment Management Securities LLC now owns 7,882,761 shares of the real estate investment trust’s stock worth $81,981,000 after buying an additional 333,036 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Cousins Properties by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,800,366 shares of the real estate investment trust’s stock worth $80,968,000 after buying an additional 79,193 shares in the last quarter. 99.72% of the stock is owned by institutional investors.
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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