Cousins Properties Incorporated (NYSE:CUZ) Shares Bought by Arizona State Retirement System

Arizona State Retirement System grew its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,573 shares of the real estate investment trust’s stock after purchasing an additional 862 shares during the quarter. Arizona State Retirement System’s holdings in Cousins Properties were worth $986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Cousins Properties by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock worth $561,412,000 after buying an additional 456,251 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in Cousins Properties by 8.9% in the first quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust’s stock valued at $112,377,000 after purchasing an additional 399,468 shares during the period. Balyasny Asset Management L.P. increased its position in Cousins Properties by 49.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,781,184 shares of the real estate investment trust’s stock worth $67,722,000 after purchasing an additional 916,508 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Cousins Properties by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,289,723 shares of the real estate investment trust’s stock worth $55,755,000 after purchasing an additional 117,031 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Cousins Properties by 75.6% in the 1st quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust’s stock valued at $46,107,000 after purchasing an additional 825,547 shares during the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Stock Up 1.2 %

Cousins Properties stock opened at $29.45 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. Cousins Properties Incorporated has a one year low of $17.40 and a one year high of $29.50. The company has a 50-day simple moving average of $26.59 and a 200-day simple moving average of $24.31. The firm has a market capitalization of $4.48 billion, a P/E ratio of 59.57, a P/E/G ratio of 4.73 and a beta of 1.31.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business had revenue of $212.98 million for the quarter, compared to the consensus estimate of $208.18 million. During the same period last year, the firm posted $2.75 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts expect that Cousins Properties Incorporated will post 2.67 earnings per share for the current year.

Cousins Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Wednesday, July 3rd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cousins Properties’s payout ratio is 261.22%.

Insider Buying and Selling at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now directly owns 12,529 shares in the company, valued at $352,440.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird upped their price objective on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial raised their price objective on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Wells Fargo & Company boosted their target price on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI restated an “in-line” rating and issued a $29.00 price target on shares of Cousins Properties in a report on Tuesday, August 20th. Finally, Barclays boosted their price objective on shares of Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.14.

Cousins Properties Company Profile

Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.