Cousins Properties (NYSE:CUZ) Sets New 1-Year Low at $21.34

Cousins Properties Incorporated (NYSE:CUZ – Get Rating) hit a new 52-week low on Monday . The stock traded as low as $21.34 and last traded at $21.53, with a volume of 287527 shares changing hands. The stock had previously closed at $21.96.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CUZ. Mizuho cut Cousins Properties from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $29.00 to $22.00 in a report on Wednesday, January 4th. Wells Fargo & Company raised their target price on shares of Cousins Properties to $29.00 in a research note on Wednesday, December 14th. Barclays cut their target price on shares of Cousins Properties from $43.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, December 13th. BMO Capital Markets started coverage on shares of Cousins Properties in a research note on Monday, December 12th. They issued an “outperform” rating and a $29.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Cousins Properties to $29.00 in a research note on Thursday, December 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.25.

Cousins Properties Price Performance

The company’s 50-day simple moving average is $25.49 and its 200-day simple moving average is $25.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 2.26 and a beta of 1.12.

Cousins Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Wednesday, January 4th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, January 3rd. This represents a $1.28 annualized dividend and a yield of 6.05%. Cousins Properties’s dividend payout ratio (DPR) is presently 115.32%.

Insiders Place Their Bets

In other Cousins Properties news, EVP John S. Mccoll sold 36,975 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $24.93, for a total transaction of $921,786.75. Following the completion of the sale, the executive vice president now directly owns 30,814 shares in the company, valued at $768,193.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Cousins Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in CUZ. HighTower Advisors LLC raised its position in shares of Cousins Properties by 24.3% in the first quarter. HighTower Advisors LLC now owns 8,349 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 1,633 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Cousins Properties by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 14,922 shares of the real estate investment trust’s stock valued at $600,000 after buying an additional 306 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of Cousins Properties in the first quarter valued at approximately $287,000. Natixis Advisors L.P. raised its position in shares of Cousins Properties by 13.1% in the first quarter. Natixis Advisors L.P. now owns 16,971 shares of the real estate investment trust’s stock valued at $684,000 after buying an additional 1,969 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Cousins Properties by 115.7% in the first quarter. Bank of Montreal Can now owns 66,926 shares of the real estate investment trust’s stock valued at $2,752,000 after buying an additional 35,897 shares in the last quarter. 97.15% of the stock is currently owned by institutional investors and hedge funds.

About Cousins Properties

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Cousins Properties, Inc engages in the development, acquisition, leasing and management of real estate assets. It invests in urban office towers located in Sunbelt markets. The company was founded by Thomas G. Cousins in 1958 and is headquartered in Atlanta, GA.