Q3 2017 Earnings Estimate for Cousins Properties Incorporated (NYSE:CUZ) Issued By SunTrust Banks
Cousins Properties Incorporated (NYSE:CUZ) – Equities researchers at SunTrust Banks boosted their Q3 2017 earnings per share (EPS) estimates for shares of Cousins Properties in a note issued to investors on Monday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $0.15 per share for the quarter, up from their prior estimate of $0.14. SunTrust Banks also issued estimates for Cousins Properties’ Q4 2017 earnings at $0.15 EPS, Q1 2018 earnings at $0.15 EPS, FY2019 earnings at $0.70 EPS, FY2020 earnings at $0.74 EPS and FY2021 earnings at $0.78 EPS.
A number of other brokerages have also recently weighed in on CUZ. Stifel Nicolaus upgraded Cousins Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $8.50 to $10.50 in a research report on Tuesday, August 1st. Zacks Investment Research raised Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Wednesday, July 5th. ValuEngine lowered Cousins Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub lowered Cousins Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Robert W. Baird raised Cousins Properties from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $9.00 to $10.00 in a research note on Tuesday, May 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $10.17.
Cousins Properties (NYSE:CUZ) opened at 9.17 on Thursday. Cousins Properties has a 12-month low of $7.09 and a 12-month high of $11.40. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 14.72 and a beta of 1.07. The stock has a 50 day moving average price of $8.95 and a 200-day moving average price of $8.60.
Cousins Properties (NYSE:CUZ) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $119 million for the quarter, compared to analyst estimates of $114.68 million. Cousins Properties had a return on equity of 9.37% and a net margin of 49.99%. The company’s revenue for the quarter was up 146.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Monday, July 3rd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.24 annualized dividend and a yield of 2.62%. Cousins Properties’s dividend payout ratio (DPR) is currently 42.11%.
In other news, Director Lillian C. Giornelli sold 5,006 shares of Cousins Properties stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $8.38, for a total value of $41,950.28. Following the transaction, the director now directly owns 102,307 shares in the company, valued at $857,332.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.14% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cousins Properties by 20.8% in the first quarter. Vanguard Group Inc. now owns 65,875,457 shares of the real estate investment trust’s stock worth $544,790,000 after buying an additional 11,347,714 shares during the period. BlackRock Inc. increased its stake in Cousins Properties by 7,631.5% in the first quarter. BlackRock Inc. now owns 50,398,142 shares of the real estate investment trust’s stock worth $416,791,000 after buying an additional 49,746,289 shares during the period. Daiwa Securities Group Inc. increased its stake in Cousins Properties by 10.8% in the second quarter. Daiwa Securities Group Inc. now owns 24,258,089 shares of the real estate investment trust’s stock worth $213,228,000 after buying an additional 2,356,643 shares during the period. State Street Corp increased its stake in Cousins Properties by 13.4% in the first quarter. State Street Corp now owns 17,661,570 shares of the real estate investment trust’s stock worth $146,057,000 after buying an additional 2,087,693 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Cousins Properties by 47.2% in the first quarter. Bank of New York Mellon Corp now owns 9,827,269 shares of the real estate investment trust’s stock worth $81,272,000 after buying an additional 3,150,702 shares during the period.
About Cousins Properties
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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