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.”
Other research analysts also recently issued research reports about the company. 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 research note on Wednesday, August 17th. Stifel Nicolaus downgraded Cousins Properties from a hold rating to a sell rating and cut their price target for the stock from $11.50 to $9.50 in a research note on Thursday, September 29th. They noted that the move was a valuation call. Two equities research 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. Cousins Properties has a consensus rating of Hold and an average target price of $10.88.
Cousins Properties (NYSE:CUZ) opened at 7.82 on Wednesday. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 11.81 and a beta of 1.14. Cousins Properties has a 52 week low of $7.19 and a 52 week high of $11.40. The firm’s 50-day moving average is $10.24 and its 200 day moving average is $10.47.
Cousins Properties (NYSE:CUZ) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates 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 earned $92.70 million during the quarter, compared to analyst estimates of $89.52 million. During the same period last year, the business posted $0.21 EPS. Cousins Properties’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that Cousins Properties will post $0.86 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CUZ. Societe Generale purchased a new position in Cousins Properties during the second quarter valued at about $102,000. Tower Research Capital LLC TRC increased its position in shares of Cousins Properties by 16,922.4% in the second quarter. Tower Research Capital LLC TRC now owns 9,873 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 9,815 shares during the last quarter. World Asset Management Inc purchased a new position in shares of Cousins Properties during the second quarter valued at $105,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 valued at $111,000 after buying an additional 966 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Cousins Properties during the second quarter valued at $112,000. 99.72% of the stock is owned by institutional investors and hedge funds.
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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