The Vanguard Group, Inc. recently announced the acquisition of new stake in Cousins Properties Incorporated (NYSE:CUZ). The institutional investor has increased its shareholding in the Real Estate company by 2.00% to 22.05 million shares with purchase of 0.43 million shares. This fresh investment now brings its stake to 14.55% valued currently at $539.95 million. In addition, Cohen & Steers Capital Management raised its holdings by 2.27 million to 16.17 million shares. And BlackRock Fund Advisors has lifted its position by 5.08% or 0.73 million shares – to 15.01 million shares.
With over 6.46 million Cousins Properties Incorporated (CUZ) shares trading Friday and a closing price of $21.96 on the day, the dollar volume was approximately $141.76 million. The shares have shown a negative half year performance of -21.21% and its price on 03/10/23 lost nearly -7.81%. Currently, there are 151.44M common shares owned by the public and among those 150.66M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for CUZ have a consensus price objective of $29.00. The analysts have set the share’s price value over the next 12 months at a high of $36.00 and a low of $22.00. The average price target is 24.28% above its recent price level and an upside to the estimated low will see the stock gain 0.18% over that period. But an upside of 39.0% will see the stock hit the forecast high price target while median target price for the stock is $29.00.
Insiders at the company have transacted a total of 61 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 307,491 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 86,064 shares.
The top 3 mutual fund holders in Cousins Properties Incorporated are Vanguard Real Estate Index Fund, Vanguard Total Stock Market Index, and iShares Core S&P Mid Cap ETF. Vanguard Real Estate Index Fund owns 6.76 million shares of the company’s stock, all valued at over $165.47 million. The company sold 4106.0 shares recently to bring their total holdings to about 4.46% of the shares outstanding. Vanguard Total Stock Market Index bought 7285.0 shares to see its total holdings expand to 4.62 million shares valued at over $113.25 million and representing 3.05% of the shares outstanding. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.96% of the shares outstanding.
Shares of Cousins Properties Incorporated (NYSE: CUZ) opened at $23.84, up $0.02 from a prior closing price of $23.82. However, the script later moved the day high at 23.85, down -7.81%. The company’s stock has a 5-day price change of -13.03% and -10.55% over the past three months. CUZ shares are trading -13.17% year to date (YTD), with the 12-month market performance down to -44.85% lower. It has a 12-month low price of $21.72 and touched a high of $41.69 over the same period. CUZ has an average intraday trading volume of 1.27 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.63%, -14.45%, and -18.46% respectively.
Institutional ownership of Cousins Properties Incorporated (NYSE: CUZ) 151.44M shares outstanding. Mutual fund holders own 53.91%, while other institutional holders and individual stakeholders account for 58.01% and 0.77% respectively.
It has a market capitalization of $3.61B and a beta (3y monthly) value of 1.12. The stock’s trailing 12-month PE ratio is 19.82, while the earnings-per-share (ttm) stands at $1.11. The company has a debt-to-equity ratio at 0.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.31% over the week and 2.88% over the month.
Analysts forecast that Cousins Properties Incorporated (CUZ) will achieve an EPS of $0.21 for the current quarter, $0.24 for the next quarter and $0.81 for 2024. The lowest estimate earnings-per-share for the quarter is $0.21 while analysts give the company a high EPS estimate of $0.21. Comparatively, EPS for the current quarter was $0.19 a year ago. Earnings per share for the fiscal year are expected to decrease by -40.70%, and 21.43% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Cousins Properties Incorporated (CUZ) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CUZ, a number of firms have released research notes about the stock. Mizuho stated their Underperform rating for the stock in a research note on January 04, 2023, with the firm’s price target at $29-$22. BMO Capital Markets coverage for the Cousins Properties Incorporated (CUZ) stock in a research note released on December 13, 2022 offered a Outperform rating with a price target of $29. Mizuho on their part issued Neutral rating on April 22, 2022.
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