Cousins Properties (CUZ) Downgraded to C+ at TheStreet

Cousins Properties (NYSE:CUZ) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a report issued on Friday.

Several other equities research analysts have also commented on the company. SunTrust Banks reiterated a “buy” rating and set a $10.00 price objective on shares of Cousins Properties in a research note on Thursday, July 26th. Bank of America cut their price objective on Cousins Properties from $10.50 to $10.25 and set a “buy” rating for the company in a research note on Monday, September 10th. ValuEngine lowered Cousins Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Finally, Zacks Investment Research upgraded Cousins Properties from a “sell” rating to a “hold” rating in a research note on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Cousins Properties has an average rating of “Hold” and an average target price of $9.92.

Shares of Cousins Properties stock opened at $8.78 on Friday. Cousins Properties has a twelve month low of $8.23 and a twelve month high of $9.88. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $3.74 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 4.39 and a beta of 0.93.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.10). Cousins Properties had a return on equity of 2.86% and a net margin of 17.63%. The firm had revenue of $113.70 million for the quarter, compared to analysts’ expectations of $115.28 million. During the same quarter last year, the firm posted $0.16 earnings per share. Cousins Properties’s quarterly revenue was down .3% on a year-over-year basis. Analysts forecast that Cousins Properties will post 0.61 earnings per share for the current fiscal year.

In other news, insider John S. Mccoll sold 14,333 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $9.26, for a total value of $132,723.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.94% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of CUZ. United Services Automobile Association lifted its holdings in Cousins Properties by 39.7% in the second quarter. United Services Automobile Association now owns 211,703 shares of the real estate investment trust’s stock valued at $2,051,000 after acquiring an additional 60,200 shares during the last quarter. Northern Trust Corp lifted its holdings in Cousins Properties by 9.6% in the second quarter. Northern Trust Corp now owns 11,760,386 shares of the real estate investment trust’s stock valued at $113,959,000 after acquiring an additional 1,032,786 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Cousins Properties by 28.6% in the second quarter. Bank of New York Mellon Corp now owns 9,341,948 shares of the real estate investment trust’s stock valued at $90,522,000 after acquiring an additional 2,077,127 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Cousins Properties by 80.4% in the second quarter. Public Employees Retirement System of Ohio now owns 900,336 shares of the real estate investment trust’s stock valued at $8,724,000 after acquiring an additional 401,356 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Cousins Properties by 76.8% in the second quarter. Jane Street Group LLC now owns 88,592 shares of the real estate investment trust’s stock valued at $858,000 after acquiring an additional 38,492 shares during the last quarter.

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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