The stock of Cousins Properties Inc (NYSE:CUZ) gapped down by $0.03 today and has $9.55 target or 6.00% below today’s $10.16 share price. The 8 months technical chart setup indicates high risk for the $2.13 billion company. The gap down was reported on Oct, 4 by Barchart.com. If the $9.55 price target is reached, the company will be worth $127.80M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.68% or $0.28 on October 3, hitting $10.16. Cousins Properties Inc (NYSE:CUZ) has risen 13.27% since March 1, 2016 and is uptrending. It has outperformed by 1.05% the S&P500.
Analysts await Cousins Properties Inc (NYSE:CUZ) to report earnings on October, 25. They expect $0.23 earnings per share, down 4.17% or $0.01 from last year’s $0.24 per share. CUZ’s profit will be $48.22 million for 11.04 P/E if the $0.23 EPS becomes a reality. After $0.22 actual earnings per share reported by Cousins Properties Inc for the previous quarter, Wall Street now forecasts 4.55% EPS growth.
Cousins Properties Inc (NYSE:CUZ) Ratings Coverage
Out of 3 analysts covering Cousins Properties (NYSE:CUZ), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. Cousins Properties has been the topic of 4 analyst reports since November 24, 2015 according to StockzIntelligence Inc. The stock of Cousins Properties Inc (NYSE:CUZ) earned “Sell” rating by Stifel Nicolaus on Thursday, September 29. As per Wednesday, August 17, the company rating was downgraded by Robert W. Baird. The stock has “Outperform” rating given by Robert W. Baird on Thursday, January 7.
According to Zacks Investment Research, “Cousins Properties Inc., is an Atlanta-based, fully integrated, self administered equity REIT. The Company has extensive experience in the real estate industry, including the acquisition, financing, development, management and leasing of properties. Cousins has been a public company since 1962, and its common stock trades on the New York Stock Exchange. The Company owns a portfolio of well-located, high-quality retail, office, medical office and land development projects and holds several tracts of strategically located undeveloped land.”
Insitutional Activity: The institutional sentiment increased to 1.48 in 2016 Q2. Its up 0.11, from 1.37 in 2016Q1. The ratio is positive, as 13 funds sold all Cousins Properties Inc shares owned while 54 reduced positions. 28 funds bought stakes while 71 increased positions. They now own 214.65 million shares or 2.82% more from 208.75 million shares in 2016Q1.
State Street Corporation last reported 0.01% of its portfolio in the stock. Nationwide Fund Advisors owns 374,963 shares or 0.02% of their US portfolio. Smith Asset Mngmt Gru Ltd Partnership reported 459 shares or 0% of all its holdings. South Dakota Invest Council last reported 0.01% of its portfolio in the stock. Connor Clark And Lunn Investment Mngmt Limited holds 0% of its portfolio in Cousins Properties Inc (NYSE:CUZ) for 43,300 shares. Wolverine Asset Mgmt Ltd Liability last reported 0.01% of its portfolio in the stock. Retail Bank Of Montreal Can has 348,810 shares for 0% of their US portfolio. Knott David M holds 0% or 13,428 shares in its portfolio. The Texas-based Dimensional Fund Advsrs L P has invested 0.02% in Cousins Properties Inc (NYSE:CUZ). Proshare Advsrs Limited Liability Corp accumulated 81,395 shares or 0.01% of the stock. Manufacturers Life Ins The last reported 139,125 shares in the company. Alliancebernstein Lp, a New York-based fund reported 546,925 shares. California State Teachers Retirement reported 436,430 shares or 0.01% of all its holdings. Blackrock Management Limited Liability last reported 0.01% of its portfolio in the stock. Jefferies Grp Limited Liability Com has 15,015 shares for 0% of their US portfolio.
More important recent Cousins Properties Inc (NYSE:CUZ) news were published by: Streetinsider.com which released: “Cousins Properties (CUZ) to Join S&P MidCap 400; Community Health Systems (CYH …” on October 03, 2016, also Bloomberg.com published article titled: “Cousins Properties to Buy Parkway for $1.95 Billion in Stock”, Bizjournals.com published: “Cousins Properties close to a deal to sell iconic One Ninety One Peachtree tower” on September 28, 2016. More interesting news about Cousins Properties Inc (NYSE:CUZ) was released by: Prnewswire.com and their article: “Cousins Properties Names Colin Connolly Chief Operating Officer” with publication date: July 14, 2016.
CUZ Company Profile
Cousins Properties Incorporated (Cousins), incorporated on May 13, 1905, is a self-administered and self-managed real estate investment trust (REIT). The Firm focuses on development, acquisition, leasing and property management. The Company’s investment strategy is to purchase Class A office assets or locate opportunistic development or redevelopment projects in its core markets to which it can add value through relationships, capital, or market expertise. The Company’s divisions include Office, Retail, Land and Other. The Company’s divisions by property type are Office, Mixed Use and Other. The Company’s divisions by geographical region are Atlanta, Houston, Austin, Charlotte and Other. The Firm invests in Class-A office towers and mixed-use developments in Sunbelt markets, including Atlanta, Austin, Charlotte, Dallas and Houston.
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