Envestnet Asset Management Inc. Sells 12,465 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Envestnet Asset Management Inc. lessened its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,729 shares of the real estate investment trust’s stock after selling 12,465 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of Cousins Properties worth $4,207,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in Cousins Properties by 2.2% in the 2nd quarter. Federated Hermes Inc. now owns 23,534 shares of the real estate investment trust’s stock worth $545,000 after buying an additional 501 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Cousins Properties in the 2nd quarter worth approximately $239,000. Jupiter Asset Management Ltd. lifted its position in Cousins Properties by 484.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 205,519 shares of the real estate investment trust’s stock worth $4,758,000 after buying an additional 170,348 shares during the last quarter. Fore Capital LLC bought a new stake in Cousins Properties in the 2nd quarter worth approximately $370,000. Finally, Texas Permanent School Fund Corp lifted its position in Cousins Properties by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 133,620 shares of the real estate investment trust’s stock worth $3,093,000 after buying an additional 790 shares during the last quarter. Institutional investors own 94.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CUZ. Truist Financial boosted their price objective on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company boosted their price objective on Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Barclays boosted their price objective on Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Robert W. Baird boosted their price objective on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI boosted their price objective on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

Insider Buying and Selling

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

Cousins Properties Price Performance

CUZ opened at $29.33 on Wednesday. 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 52-week low of $17.40 and a 52-week high of $30.50. The stock has a market capitalization of $4.46 billion, a PE ratio of 59.85, a price-to-earnings-growth ratio of 4.90 and a beta of 1.31. The stock’s 50 day moving average price is $27.92 and its 200-day moving average price is $24.85.

Cousins Properties (NYSE:CUZ) last posted its 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 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 analysts’ expectations of $208.18 million. During the same period last year, the firm posted $2.75 earnings per share. Cousins Properties’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts predict that Cousins Properties Incorporated will post 2.67 EPS for the current year.

Cousins Properties Announces Dividend

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

About Cousins Properties

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.