BMO Capital analyst John Kim maintained a Hold rating on Cousins Properties today and set a price target of $33.00.
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John Kim’s rating is based on a combination of factors that reflect both positive and negative aspects of Cousins Properties’ recent performance. On the positive side, the company managed to raise its 2025 guidance slightly above market expectations, and it maintained positive cash leasing spreads, indicating some resilience in its leasing activities. Additionally, Cousins Properties announced a beneficial loan to its joint venture partner, which could enhance future financial performance.
However, there are notable challenges that contributed to the Hold rating. The company’s occupancy rate experienced a decline, primarily due to the departure of a major tenant, Bank of America, in Charlotte. This resulted in a significant drop in occupancy in that market. Furthermore, there were early termination agreements with tenants, and net effective rents saw a substantial decrease compared to the previous year. These mixed signals suggest a cautious outlook, justifying the Hold recommendation.
Kim covers the Real Estate sector, focusing on stocks such as Plymouth Industrial Reit, Alexandria Equities, and AvalonBay. According to TipRanks, Kim has an average return of -0.5% and a 46.57% success rate on recommended stocks.
In another report released on October 13, Jefferies also downgraded the stock to a Hold with a $27.00 price target.