According to Zacks, “Shares of Cousins Properties have outperformed its industry over the past six months. The company’s properties located in premium Sun-Belt markets have enabled it to enjoy robust rent growth and boosted its top-line performance during first-quarter 2019. Also, in March, Cousins Properties announced plans to merge with TIER REIT that will improve market scale and enable it to realize operational and leasing synergies. Going forward, a disciplined balance sheet with ample liquidity will enable it to leverage on improving market fundamentals and raise operational efficiency. However, it is witnessing higher construction activity at its markets. This is expected to increase supply of office properties, resulting in lesser scope for rent and occupancy growth. Further, a significant development pipeline increases operational risks and exposes the company to rising construction costs.”
Separately, Bank of America set a $11.00 target price on Cousins Properties and gave the company a buy rating in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Cousins Properties presently has an average rating of Buy and an average price target of $10.67.
Cousins Properties (NYSE:CUZ) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $0.20 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. The firm had revenue of $123.30 million for the quarter, compared to the consensus estimate of $122.55 million. Cousins Properties had a return on equity of 3.49% and a net margin of 20.18%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. On average, equities analysts expect that Cousins Properties will post 0.73 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc boosted its holdings in Cousins Properties by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 62,027,124 shares of the real estate investment trust’s stock valued at $551,421,000 after acquiring an additional 262,602 shares during the period. BlackRock Inc. boosted its holdings in Cousins Properties by 2.0% during the 4th quarter. BlackRock Inc. now owns 61,661,774 shares of the real estate investment trust’s stock valued at $487,127,000 after acquiring an additional 1,211,932 shares during the period. JPMorgan Chase & Co. boosted its holdings in Cousins Properties by 38.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,592,986 shares of the real estate investment trust’s stock valued at $150,628,000 after acquiring an additional 4,367,872 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Cousins Properties by 19.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 12,617,044 shares of the real estate investment trust’s stock valued at $99,674,000 after acquiring an additional 2,043,132 shares during the period. Finally, Northern Trust Corp boosted its holdings in Cousins Properties by 1.5% during the 4th quarter. Northern Trust Corp now owns 11,594,653 shares of the real estate investment trust’s stock valued at $91,599,000 after acquiring an additional 176,273 shares during the period.
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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