Cousins Properties Incorporated (NYSE:CUZ) – Stock analysts at Capital One Financial Corporation cut their Q1 2017 earnings per share estimates for Cousins Properties in a report released on Wednesday. Capital One Financial Corporation analyst T. Lesnick now forecasts that the brokerage will post earnings of $0.13 per share for the quarter, down from their prior estimate of $0.14.
Several other brokerages have also recently issued reports on CUZ. Zacks Investment Research cut shares of Cousins Properties from a “hold” rating to a “sell” rating in a report on Tuesday, December 6th. Stifel Nicolaus upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating and cut their target price for the stock from $9.50 to $8.00 in a report on Monday, October 17th. They noted that the move was a valuation call.
Shares of Cousins Properties (NYSE:CUZ) opened at 8.50 on Friday. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 18.32 and a beta of 1.06. Cousins Properties has a 52 week low of $5.70 and a 52 week high of $8.82. The firm’s 50-day moving average is $8.45 and its 200-day moving average is $7.89.
Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Wednesday, February 8th. The real estate investment trust reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.16. The business earned $114.29 million during the quarter, compared to analyst estimates of $100.16 million. Cousins Properties had a net margin of 20.13% and a return on equity of 4.49%. Cousins Properties’s quarterly revenue was up 135.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Investors of record on Friday, January 13th were paid a $0.06 dividend. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, January 11th. This represents a $0.24 dividend on an annualized basis and a yield of 2.82%. Cousins Properties’s dividend payout ratio (DPR) is presently 77.42%.
Hedge funds have recently made changes to their positions in the company. FMR LLC raised its stake in shares of Cousins Properties by 67.9% in the fourth quarter. FMR LLC now owns 37,539,059 shares of the real estate investment trust’s stock worth $319,458,000 after buying an additional 15,182,879 shares during the last quarter. State Street Corp raised its stake in shares of Cousins Properties by 103.0% in the fourth quarter. State Street Corp now owns 15,573,877 shares of the real estate investment trust’s stock worth $132,530,000 after buying an additional 7,901,086 shares during the last quarter. RidgeWorth Capital Management LLC acquired a new stake in shares of Cousins Properties during the fourth quarter worth approximately $62,016,000. Daiwa Securities Group Inc. raised its stake in shares of Cousins Properties by 416.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,040,674 shares of the real estate investment trust’s stock worth $59,250,000 after buying an additional 6,483,437 shares during the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Cousins Properties during the fourth quarter worth approximately $43,164,000. 62.19% of the stock is owned by institutional investors.
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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