Cousins Properties initiated with a Hold at Jefferies

Jefferies analyst Peter Abramowitz initiated coverage of Cousins Properties with a Hold rating and $21 price target. Cousins stands out from office peers for the quality of its Sun Belt portfolio and "strong" balance sheet, but no office landlord is immune to structural challenges, which will lead to "stagnant" earnings growth in the near and medium term, the analyst tells investors in a research note.