abrdn plc Purchases 2,327 Shares of Cousins Properties Incorporated (NYSE:CUZ)

abrdn plc increased its position in Cousins Properties Incorporated (NYSE:CUZ) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,089 shares of the real estate investment trust’s stock after purchasing an additional 2,327 shares during the period. abrdn plc’s holdings in Cousins Properties were worth $887,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Jennison Associates LLC lifted its stake in shares of Cousins Properties by 75.6% in the first quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust’s stock valued at $46,107,000 after buying an additional 825,547 shares in the last quarter. Swedbank AB bought a new position in Cousins Properties in the 1st quarter valued at about $14,306,000. Vanguard Group Inc. boosted its stake in Cousins Properties by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock valued at $561,412,000 after purchasing an additional 456,251 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Cousins Properties by 92.8% in the second quarter. Marshall Wace LLP now owns 853,456 shares of the real estate investment trust’s stock valued at $19,758,000 after purchasing an additional 410,726 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its position in shares of Cousins Properties by 8.9% during 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 buying an additional 399,468 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

Insider Activity at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at $352,440.77. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by company insiders.

Cousins Properties Price Performance

Cousins Properties stock opened at $30.82 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The business’s 50 day simple moving average is $29.63 and its 200 day simple moving average is $26.15. Cousins Properties Incorporated has a 12 month low of $17.85 and a 12 month high of $32.17. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 93.39, a PEG ratio of 4.64 and a beta of 1.29.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.60). The firm had revenue of $209.21 million for the quarter, compared to the consensus estimate of $212.54 million. Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts forecast that Cousins Properties Incorporated will post 2.67 EPS for the current year.

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.15%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 387.88%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CUZ shares. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday. Truist Financial boosted their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Evercore ISI increased their price objective on shares of Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Barclays increased their price target on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price objective on Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Cousins Properties has an average rating of “Moderate Buy” and an average target price of $31.50.

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.