Cousins Properties price target lowered to $27 from $31 at BMO Capital

BMO Capital lowered the firm’s price target on Cousins Properties (CUZ) to $27 from $31 but keeps an Outperform rating on the shares. Despite the company’s rising occupancy and increased leasing activity with a growing pipeline, the REIT’s shares trade at a 36% discount to its COVID-era FFO multiple, the analyst tells investors in a research note. The company should likely continue to benefit from a flight-to-quality in its Sunbelt markets, BMO adds.