Analysts forecast that Cousins Properties Incorporated (NYSE:CUZ) will post sales of $115.04 million for the current quarter, Zacks reports. Four analysts have issued estimates for Cousins Properties’ earnings. The highest sales estimate is $120.62 million and the lowest is $112.54 million. Cousins Properties posted sales of $90.74 million during the same quarter last year, which suggests a positive year-over-year growth rate of 26.8%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that Cousins Properties will report full-year sales of $115.04 million for the current financial year, with estimates ranging from $442.57 million to $470.43 million. For the next financial year, analysts anticipate that the business will post sales of $486.95 million per share, with estimates ranging from $464.47 million to $516.05 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cousins Properties.
Cousins Properties (NYSE:CUZ) last announced its earnings results on Thursday, April 27th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.13. The business had revenue of $112.50 million for the quarter, compared to the consensus estimate of $116.11 million. Cousins Properties had a net margin of 14.48% and a return on equity of 3.11%. Cousins Properties’s revenue was up 147.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 EPS.
A number of equities analysts recently issued reports on CUZ shares. Robert W. Baird upgraded Cousins Properties from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $9.00 to $10.00 in a report on Tuesday, May 16th. Zacks Investment Research cut Cousins Properties from a “buy” rating to a “hold” rating in a report on Monday, February 27th. Finally, ValuEngine cut Cousins Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
Shares of Cousins Properties (NYSE CUZ) traded up 0.67% during trading on Friday, hitting $9.00. The company had a trading volume of 6,530,425 shares. Cousins Properties has a 52 week low of $7.09 and a 52 week high of $9.10. The stock’s 50-day moving average price is $8.62 and its 200 day moving average price is $8.42. The company has a market capitalization of $3.77 billion, a P/E ratio of 45.23 and a beta of 1.08.
In related news, Director Lillian C. Giornelli sold 12,094 shares of the business’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $8.24, for a total transaction of $99,654.56. Following the completion of the transaction, the director now owns 102,307 shares in the company, valued at approximately $843,009.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lillian C. Giornelli sold 5,006 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $8.38, for a total value of $41,950.28. Following the transaction, the director now owns 102,307 shares of the company’s stock, valued at approximately $857,332.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,850 shares of company stock valued at $1,045,314. 1.14% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Cousins Properties by 7,631.5% in the first quarter. BlackRock Inc. now owns 50,398,142 shares of the real estate investment trust’s stock worth $416,791,000 after buying an additional 49,746,289 shares during the last quarter. FMR LLC boosted its position in 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. Vanguard Group Inc. boosted its position in Cousins Properties by 20.8% in the first quarter. Vanguard Group Inc. now owns 65,875,457 shares of the real estate investment trust’s stock worth $544,790,000 after buying an additional 11,347,714 shares during the last quarter. State Street Corp boosted its position in 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. Finally, Norges Bank acquired a new position in Cousins Properties during the fourth quarter worth about $30,543,000.
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About Cousins Properties
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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