Point72 Asia Singapore Pte. Ltd. Invests $115,000 in Cousins Properties Incorporated (NYSE:CUZ)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cousins Properties Incorporated (NYSE:CUZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,984 shares of the real estate investment trust’s stock, valued at approximately $115,000.

Several other hedge funds also recently added to or reduced their stakes in CUZ. Blue Trust Inc. lifted its stake in shares of 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 during the last quarter. Versant Capital Management Inc raised its holdings in Cousins Properties by 3,236.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,586 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Cousins Properties in the first quarter valued at about $43,000. Acadian Asset Management LLC boosted its stake in Cousins Properties by 46.4% during the second quarter. Acadian Asset Management LLC now owns 6,086 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 1,928 shares during the period. Finally, Westend Capital Management LLC acquired a new stake in shares of Cousins Properties during the first quarter valued at about $184,000. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Cousins Properties Stock Down 1.4 %

Shares of NYSE CUZ opened at $28.83 on Friday. Cousins Properties Incorporated has a 12-month low of $17.40 and a 12-month high of $30.50. The stock has a market cap of $4.38 billion, a P/E ratio of 58.84, a PEG ratio of 4.90 and a beta of 1.31. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $28.10 and its 200-day simple moving average is $24.92.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) 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 company had revenue of $212.98 million during the quarter, compared to analyst estimates of $208.18 million. During the same period in the prior year, the business earned $2.75 EPS. Cousins Properties’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Cousins Properties Incorporated will post 2.67 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The company 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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.44%. The ex-dividend date is Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.

Insider Buying and Selling at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction 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 of the company’s stock, valued at approximately $352,440.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

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.