Zacks Investment Research upgraded shares of Cousins Properties Incorporated (NYSE:CUZ) from a sell rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “Shares of Cousin Properties have outperformed the industry it belongs to, year to date. Nonetheless, the stock has seen the Zacks Consensus Estimate for third-quarter and current-year funds from operations (FFO) per share remaining unchanged in a month’s time. Its third-quarter results highlight an improvement in rental revenues. The company also lifted its FFO guidance for full-year 2017. The company’s unmatched portfolio of Class A office assets located in the Sun Belt markets enables it to enjoy high demand. Moreover, efforts to fortify its position in markets with robust rent growth augur well. However, Cousin Properties faces stiff competition from other market players. This impacts the company’s ability to retain and attract tenants at higher rents. Further, hike in interest rates remain a concern. “
CUZ has been the topic of a number of other reports. ValuEngine upgraded Cousins Properties from a hold rating to a buy rating in a report on Tuesday, October 10th. SunTrust Banks, Inc. restated a buy rating and set a $10.00 price target on shares of Cousins Properties in a report on Monday, October 2nd. Stifel Nicolaus restated a buy rating and set a $10.50 price target on shares of Cousins Properties in a report on Thursday, September 21st. Bank of America Corporation increased their price target on Cousins Properties from $9.50 to $10.00 and gave the stock a neutral rating in a report on Tuesday, October 3rd. Finally, BidaskClub upgraded Cousins Properties from a hold rating to a buy rating in a report on Monday, August 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $10.10.
Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The business had revenue of $113.20 million for the quarter, compared to the consensus estimate of $113.51 million. Cousins Properties had a return on equity of 8.39% and a net margin of 48.08%. Cousins Properties’s quarterly revenue was up 132.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. sell-side analysts anticipate that Cousins Properties will post 0.61 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of the stock. Eii Capital Management Inc. bought a new position in shares of Cousins Properties in the 3rd quarter worth $1,012,000. Sterling Capital Management LLC bought a new position in shares of Cousins Properties in the 3rd quarter worth $1,589,000. Argent Capital Management LLC lifted its holdings in shares of Cousins Properties by 30.8% in the 3rd quarter. Argent Capital Management LLC now owns 309,200 shares of the real estate investment trust’s stock worth $2,888,000 after purchasing an additional 72,875 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Cousins Properties by 337.8% in the 3rd quarter. Jane Street Group LLC now owns 54,156 shares of the real estate investment trust’s stock worth $506,000 after purchasing an additional 41,785 shares in the last quarter. Finally, Prospector Partners LLC lifted its holdings in shares of Cousins Properties by 1.8% in the 3rd quarter. Prospector Partners LLC now owns 522,750 shares of the real estate investment trust’s stock worth $4,882,000 after purchasing an additional 9,100 shares in the last quarter.
Cousins Properties Company Profile
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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