Cousins Properties Incorporated (NYSE:CUZ) – SunTrust Banks lifted their FY2017 earnings estimates for Cousins Properties in a report issued on Monday. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings per share of $0.61 for the year, up from their prior forecast of $0.59.
Cousins Properties (NYSE:CUZ) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Cousins Properties had a return on equity of 9.37% and a net margin of 49.99%. The business had revenue of $119 million for the quarter, compared to the consensus estimate of $114.68 million. During the same period last year, the business earned $0.21 earnings per share. The firm’s revenue for the quarter was up 146.4% compared to the same quarter last year.
A number of other equities analysts have also recently commented on CUZ. Robert W. Baird upgraded Cousins Properties from a “neutral” rating to an “outperform” rating and raised their target price for the company from $9.00 to $10.00 in a report on Tuesday, May 16th. ValuEngine cut Cousins Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, July 5th. BidaskClub cut Cousins Properties from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus upgraded Cousins Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $8.50 to $10.50 in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Cousins Properties currently has an average rating of “Buy” and a consensus target price of $10.17.
Shares of Cousins Properties (NYSE:CUZ) opened at 9.17 on Wednesday. The company’s 50-day moving average price is $8.91 and its 200-day moving average price is $8.57. Cousins Properties has a 52-week low of $7.09 and a 52-week high of $11.40. The firm has a market capitalization of $3.85 billion, a P/E ratio of 14.72 and a beta of 1.07.
A number of large investors have recently bought and sold shares of CUZ. Commerzbank Aktiengesellschaft FI raised its stake in Cousins Properties by 14.0% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,553 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 1,545 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in Cousins Properties by 46.6% in the first quarter. Glen Harbor Capital Management LLC now owns 14,388 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 4,576 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Cousins Properties during the first quarter worth about $121,000. Oakbrook Investments LLC raised its stake in Cousins Properties by 7.0% in the first quarter. Oakbrook Investments LLC now owns 15,200 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 1,000 shares in the last quarter. Finally, Elkfork Partners LLC raised its stake in Cousins Properties by 46.6% in the first quarter. Elkfork Partners LLC now owns 18,312 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 5,824 shares in the last quarter.
In other Cousins Properties news, Director Lillian C. Giornelli sold 5,006 shares of the 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 sale, the director now owns 102,307 shares of the company’s stock, valued at approximately $857,332.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.14% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Monday, July 3rd were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Thursday, June 29th. Cousins Properties’s dividend payout ratio is currently 42.11%.
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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