Cousins Properties price target lowered to $29 from $31 at Truist

Truist lowered the firm’s price target on Cousins Properties (CUZ) to $29 from $31 but keeps a Buy rating on the shares. The firm notes the company’s Q1 FFO beat but also cites uncertain macroeconomic conditions and higher interest rates threatening REIT stock multiples, the analyst tells investors in a research note. Truist adds however that Cousins has the lowest financial leverage in its office coverage universe, very low upcoming lease expirations, positive projected FFO per share and cashflow growth this year and next, and a “high-quality Sunbelt portfolio”.