JPMorgan Chase & Co. Cuts Cousins Properties (NYSE:CUZ) Price Target to $33.00

Cousins Properties (NYSE:CUZ) had its target price cut by JPMorgan Chase & Co. from $37.00 to $33.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other research firms have also commented on CUZ. Wall Street Zen lowered shares of Cousins Properties from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Jefferies Financial Group downgraded Cousins Properties from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $34.00 to $27.00 in a report on Monday, October 13th. Evercore ISI boosted their target price on Cousins Properties from $31.00 to $32.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Truist Financial reduced their price target on Cousins Properties from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cousins Properties in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.64.

Cousins Properties Price Performance

Cousins Properties stock opened at $25.81 on Tuesday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $26.71 and a 200 day simple moving average of $27.97. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 69.76, a PEG ratio of 2.29 and a beta of 1.36. Cousins Properties has a 52 week low of $24.07 and a 52 week high of $32.55.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.69. The firm had revenue of $248.33 million during the quarter, compared to analyst estimates of $239.70 million. Cousins Properties had a return on equity of 1.27% and a net margin of 6.51%.The company’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. Cousins Properties has set its FY 2025 guidance at 2.820-2.860 EPS. On average, research analysts forecast that Cousins Properties will post 2.76 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.0%. Cousins Properties’s dividend payout ratio (DPR) is currently 365.71%.

Insider Activity at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 4,612 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $29.30, for a total value of $135,131.60. Following the sale, the chief accounting officer owned 13,518 shares in the company, valued at $396,077.40. This represents a 25.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cousins Properties

Hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of Cousins Properties by 2.7% in the first quarter. Cetera Investment Advisers now owns 16,377 shares of the real estate investment trust’s stock worth $483,000 after acquiring an additional 427 shares during the period. Parallel Advisors LLC boosted its holdings in Cousins Properties by 14.3% in the second quarter. Parallel Advisors LLC now owns 3,932 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 493 shares during the last quarter. Assetmark Inc. grew its position in Cousins Properties by 9.6% in the 3rd quarter. Assetmark Inc. now owns 5,781 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 505 shares during the period. DoubleLine ETF Adviser LP raised its stake in Cousins Properties by 5.3% during the 3rd quarter. DoubleLine ETF Adviser LP now owns 10,461 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 531 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Cousins Properties by 1.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 41,753 shares of the real estate investment trust’s stock valued at $1,208,000 after buying an additional 552 shares during the period. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

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.