Mutual of America Capital Management LLC Lowers Stock Holdings in Cousins Properties Incorporated (NYSE:CUZ)

Mutual of America Capital Management LLC cut its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 1.9% in the 2nd quarter, Holdings Channel reports. The fund owned 244,816 shares of the real estate investment trust’s stock after selling 4,738 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cousins Properties were worth $5,667,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. purchased a new stake in shares of Cousins Properties during the first quarter worth approximately $846,000. Balyasny Asset Management L.P. raised its position in Cousins Properties by 49.2% during the 4th 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 buying an additional 916,508 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Cousins Properties by 554.8% in the 1st quarter. SG Americas Securities LLC now owns 185,283 shares of the real estate investment trust’s stock worth $4,454,000 after acquiring an additional 156,988 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Cousins Properties by 124.6% in the first quarter. BNP Paribas Financial Markets now owns 246,382 shares of the real estate investment trust’s stock valued at $5,923,000 after acquiring an additional 136,685 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Cousins Properties by 2.0% during the first quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock worth $561,412,000 after acquiring an additional 456,251 shares during the period. 94.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on CUZ shares. Wells Fargo & Company raised their price objective on shares of Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Evercore ISI raised their price target on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a report on Monday, September 16th. 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 target price on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Barclays upped their price target 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 investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.29.

Insider Activity

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

Cousins Properties Stock Performance

Shares of CUZ stock opened at $29.35 on Friday. The stock has a fifty day moving average price of $27.32 and a 200 day moving average price of $24.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $4.46 billion, a PE ratio of 59.90, a P/E/G ratio of 4.73 and a beta of 1.31. Cousins Properties Incorporated has a 1 year low of $17.40 and a 1 year high of $29.77.

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 (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.61). Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The firm had revenue of $212.98 million for the quarter, compared to analyst estimates of $208.18 million. During the same period last year, the firm earned $2.75 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that Cousins Properties Incorporated will post 2.67 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.

Cousins Properties 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.