Cousins Properties (NYSE:CUZ) Reaches New 52-Week High - Here's Why

Shares of Cousins Properties Incorporated (NYSE:CUZ - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $32.26 and last traded at $32.20, with a volume of 238618 shares traded. The stock had previously closed at $31.65.

Analyst Ratings Changes

CUZ has been the topic of several recent research reports. Barclays upped their price target on Cousins Properties from $30.00 to $35.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their target price on Cousins Properties from $31.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Evercore ISI increased their target price on Cousins Properties from $29.00 to $30.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. StockNews.com upgraded Cousins Properties from a "sell" rating to a "hold" rating in a research note on Monday, November 4th. Finally, Robert W. Baird increased their target price on Cousins Properties from $31.00 to $33.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.

Cousins Properties Stock Up 0.8 %

The company has a market cap of $4.85 billion, a P/E ratio of 96.70, a P/E/G ratio of 5.13 and a beta of 1.29. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $29.96 and its 200 day moving average is $26.46.

Cousins Properties (NYSE:CUZ - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.60). Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The business had revenue of $209.21 million during the quarter, compared to analysts' expectations of $212.54 million. During the same period in the previous year, the company posted $0.65 earnings per share. Cousins Properties's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Cousins Properties Incorporated will post 2.67 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were paid a dividend of $0.32 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 annualized dividend and a yield of 4.01%. Cousins Properties's dividend payout ratio is presently 387.88%.

Insider Activity

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares of the company's stock, valued at $352,440.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Cousins Properties

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Cousins Properties by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust's stock worth $561,412,000 after buying an additional 456,251 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Cousins Properties by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 12,140,948 shares of the real estate investment trust's stock valued at $357,910,000 after purchasing an additional 458,387 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Cousins Properties by 8.9% in the 1st quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust's stock valued at $112,377,000 after purchasing an additional 399,468 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cousins Properties by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,214,595 shares of the real estate investment trust's stock valued at $51,266,000 after purchasing an additional 98,222 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Cousins Properties by 15.9% in the 3rd quarter. Jennison Associates LLC now owns 2,205,415 shares of the real estate investment trust's stock valued at $65,016,000 after purchasing an additional 302,309 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company's stock.

Cousins Properties Company Profile

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.