Cousins Properties Inc (NYSE:CUZ) – Equities researchers at SunTrust Banks decreased their FY2020 earnings per share (EPS) estimates for shares of Cousins Properties in a report released on Thursday, October 25th. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $0.66 per share for the year, down from their prior estimate of $0.67. SunTrust Banks has a “Buy” rating and a $10.00 price target on the stock. SunTrust Banks also issued estimates for Cousins Properties’ FY2021 earnings at $0.70 EPS and FY2022 earnings at $0.73 EPS.
Other analysts have also issued research reports about the company. Bank of America cut their price target on Cousins Properties from $10.50 to $10.25 and set a “buy” rating for the company in a report on Monday, September 10th. TheStreet lowered Cousins Properties from a “b-” rating to a “c+” rating in a report on Friday, October 5th. Zacks Investment Research raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, July 9th. Finally, ValuEngine raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.92.
Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.04. Cousins Properties had a return on equity of 3.12% and a net margin of 19.01%. The business had revenue of $116.60 million during the quarter, compared to analyst estimates of $115.91 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. Cousins Properties’s revenue for the quarter was down 2.0% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in the business. First Republic Investment Management Inc. purchased a new position in shares of Cousins Properties in the second quarter valued at about $125,000. Verition Fund Management LLC purchased a new position in shares of Cousins Properties in the first quarter valued at about $171,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cousins Properties in the second quarter valued at about $198,000. Hartford Investment Management Co. purchased a new position in shares of Cousins Properties in the second quarter valued at about $203,000. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Cousins Properties in the third quarter valued at about $205,000.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Wednesday, October 3rd were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 3.08%. The ex-dividend date was Tuesday, October 2nd. Cousins Properties’s dividend payout ratio is presently 42.62%.
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.
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