Quest Partners LLC Boosts Holdings in Cousins Properties Incorporated (NYSE:CUZ)

Quest Partners LLC lifted its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 1,690.7% in the third quarter, Holdings Channel reports. The firm owned 28,759 shares of the real estate investment trust’s stock after buying an additional 27,153 shares during the period. Quest Partners LLC’s holdings in Cousins Properties were worth $848,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CUZ. Blue Trust Inc. lifted its holdings in Cousins Properties by 130.8% in the 2nd quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 858 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Cousins Properties by 3,236.7% in the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,586 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Cousins Properties during the first quarter worth about $43,000. Signaturefd LLC grew its stake in Cousins Properties by 30.8% during the 3rd quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 651 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cousins Properties in the 2nd quarter valued at about $115,000. Institutional investors and hedge funds own 94.38% of the company’s stock.

Analyst Ratings Changes

CUZ has been the topic of several recent research reports. Truist Financial boosted their target price on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Robert W. Baird boosted their price objective on Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their target price on Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Evercore ISI boosted their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, StockNews.com upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cousins Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Cousins Properties Stock Up 1.3 %

Shares of NYSE:CUZ opened at $31.51 on Friday. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 95.47, a PEG ratio of 4.12 and a beta of 1.29. Cousins Properties Incorporated has a 12-month low of $19.48 and a 12-month high of $32.44. The business has a 50-day moving average price of $30.31 and a 200 day moving average price of $26.82. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). The company had revenue of $209.21 million for the quarter, compared to analyst estimates of $212.54 million. Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. Cousins Properties’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. Sell-side analysts expect that Cousins Properties Incorporated will post 2.68 EPS for the current year.

Cousins Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s payout ratio is 387.88%.

Insiders Place Their Bets

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This represents a 32.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

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.