Analysts Reduce Cousins Properties Incorporated (NYSE:CUZ) Q3 2023 EPS Forecasts 2023
Cousins Properties, Inc. (NYSE:CUZ – Get Rating) – In a report released on Tuesday, March 14th, analysts at Zacks Research cut their Q3 2023 earnings predictions for Cousins Properties. N. Dass, an analyst at Zacks Research, currently anticipates that the real estate investment trust will report quarterly earnings of $0.64 per share, down from their previous estimate of $0.65. The average estimate for the current full-year profits of Cousins Properties is $2.60 per share. Zacks Research also provided earnings projections for Cousins Properties’ Q4 2023 at $0.65 EPS, FY2023 at $2.57 EPS, Q1 2024 at $0.65 EPS, Q2 2024 at $0.68 EPS, Q3 2024 at $0.68 EPS, Q4 2024 at $0.73 EPS, FY2024 at $2.74 EPS, and FY2025 at $2.91 EPS.
Several other research analysts have recently published studies on CUZ. Thursday’s research report by Wells Fargo & Company lowered the price objective on shares of Cousins Properties from $29.00 to $25.00 and assigned the stock a “overweight” rating. In a report published on Thursday, December 1st, JPMorgan Chase & Co. lowered their price objective on shares of Cousins Properties to $29.00. Tuesday, February 14th, Robert W. Baird raised their target price on shares of Cousins Properties from $31.00 to $32.00 and assigned the company a “outperform” rating. Wednesday, January 4th, Mizuho downgraded shares of Cousins Properties from a “neutral” rating to a “underperform” rating and dropped their price target for the stock from $29.00 to $22.00. Lastly, on Thursday, StockNews.com initiated coverage on shares of Cousins Properties in a research report. They assigned the corporation a “hold” rating. One analyst has given the stock a sell recommendation, three have assigned a hold rating, and five have given the stock a buy rating. The company has a consensus rating of “Hold” and an average price target of $28.75, according to MarketBeat.com.
Cousins Properties Price Decrease by 5.0%
On Friday, NYSE CUZ opened at $19.45. The firm has a $2.95 billion market capitalization, a PE ratio of 17.52, a P/E/G ratio of 2.18, and a beta of 1.12. The company’s 50-day and 200-day moving averages are $25.25 and $25.00, respectively. The one-year low for Cousins Properties is $19.16 and the one-year high is $41.69. The company’s debt-to-equity ratio is 0.50, while its current ratio and quick ratio are both 0.73.
Institutional Trade in Cousins Real Estate
Numerous significant investors have lately purchased and sold company stock. During the fourth quarter, Rockefeller Capital Management L.P. increased its holdings in Cousins Properties by 68.0%. Rockefeller Capital Management L.P. now owns 1,997 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 808 shares in the preceding quarter. During the fourth quarter, the State of Tennessee Treasury Department increased its holdings in Cousins Properties by 10.6%. State of Tennessee Treasury Department now owns 419,107 shares of the REIT’s stock worth $10,599,000 after acquiring an additional 40,000 shares in the last recent quarter. Jane Street Group LLC acquired an approximately $604,000 investment in Cousins Properties during the fourth quarter. In the fourth quarter, Schonfeld Strategic Advisors LLC increased its holdings in Cousins Properties by 33.8%. After acquiring an additional 11,390 shares during the period, Schonfeld Strategic Advisors LLC now holds 45,061 shares of the REIT’s stock valued at $1,140,000. In the fourth quarter, Squarepoint Ops LLC increased its position in Cousins Properties by 17.7%. Squarepoint Operations LLC now owns 114,680 shares of the REIT’s stock worth $2,900,000 after purchasing an additional 17,237 shares during the last frame. Institutional investors and hedge funds hold 97.15 percent of the company’s stock.
Insider Purchases and Sales
In related news, Executive Vice President John S. Mccoll sold 36,975 shares of the company’s stock on Tuesday, February 28. At an average price of $24.93, the shares were sold for a total of $921,786.75. The executive vice president now owns 30,814 shares of the firm, worth roughly $768,193.02. The transaction was revealed in a legal file with the SEC, accessible on the SEC website. Insiders hold 0.86 percent of the company’s shares.
Cousins Properties Announcement of Dividend
Also, the company just declared a quarterly dividend, which was paid on January 13th. A $0.32 dividend per share was distributed to shareholders of record on January 4th. The ex-dividend date was January 3rd, Tuesday. This is an annual payout of $1.28 and a dividend yield of 6.58 percent. The current dividend payout ratio (DPR) for Cousins Properties is 115.32 %.
Business Profile of Cousins Properties (Get Rating)
Cousins Properties, Inc. is engaged in real estate development, acquisition, leasing, and management. It makes investments in metropolitan office skyscrapers in Sunbelt markets. Thomas G. Cousins created the corporation in 1958 and it is headquartered in Atlanta, Georgia.
