Truist upgraded Cousins Properties to Buy from Hold with a price target of $28, up from $27, as part of a broader research note on REITs. The firm is positive on the company’s exposure to the relatively favorable Sunbelt employment growth and a powerful tenant flight to quality, the analyst tells investors in a research note. Cousins Properties’ portfolio is 100% Sunbelt and class-A with low near-term lease expirations, Truist states. The REIT also has the lowest financial leverage in its office coverage universe, and the stock trades at an attractive valuation, the firm added.
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