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On Monday, Wolfe Research made a significant adjustment to the stock rating of Cousins Properties (NYSE:CUZ), elevating it from Peer Perform to Outperform. The firm has also set a new price target for the real estate investment trust (REIT) at $31.00, suggesting a promising outlook for the company’s shares. Currently trading at $26.03, with a market capitalization of $4.36 billion, InvestingPro data shows the stock has experienced a notable 10.8% decline over the past week.
The upgrade by Wolfe Research is predicated on a positive evaluation of Cousins Properties’ earnings potential and market position. Analysts at the firm believe that the company’s current earnings have a lower-than-average risk of decline due to its lease durations and balance sheet strength. They also note that the company’s shares are currently undervalued, categorizing Cousins Properties as a ’deep value’ stock. InvestingPro analysis reveals the company has maintained dividend payments for 46 consecutive years, currently offering a 4.92% yield.
The new price target of $31.00 is based on an assumption that Cousins Properties will trade at 11 times its forecasted 2026 funds from operations per share (FFOPS), which represents about a 38% discount to the average of Wolfe Research’s REIT coverage based on 2025 headline earnings. This target indicates a total expected return of 24%, including dividends, for investors. According to InvestingPro data, analyst targets range from $30 to $38, with additional ProTips and detailed financial metrics available to subscribers.
Wolfe Research’s analysts highlight that in a sector where earnings growth is generally under pressure, the stable earnings profile of Cousins Properties is sufficient to drive a relative increase in the stock’s multiple. The firm’s assessment suggests confidence in the company’s ability to outperform within the broader REIT sector.
Cousins Properties’ stock performance will likely be monitored closely by investors following this rating upgrade and new price target, as market participants assess the potential for the company to achieve the growth and value expectations set forth by Wolfe Research.
In other recent news, Cousins Properties has reported significant developments that may interest investors. Jefferies initiated coverage on the company, assigning a Buy rating and setting a price target of $35.00, citing the company’s strategic positioning in the growing Sunbelt markets and its low cost of capital. This optimism is based on anticipated occupancy growth and the financial benefits from recent acquisitions. Meanwhile, Mizuho (NYSE:MFG) upgraded Cousins Properties’ stock rating from Underperform to Neutral and raised the price target to $30.00, highlighting improved market conditions in Austin and the company’s potential to increase occupancy rates.
Additionally, Cousins Properties announced changes to its Board of Directors, with Susan L. Givens elected as an independent director following the retirement of Lillian C. Giornelli. Givens brings over two decades of experience in the real estate industry, having held senior roles at Blackstone (NYSE:BX) and New Senior Investment Group (NYSE:SNR). Her appointment is expected to contribute to the company’s growth strategy.
These developments reflect a period of transition and growth for Cousins Properties, with strategic board appointments and positive analyst ratings underscoring the company’s robust position in the real estate market.
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