Atria Investments Inc purchased a new position in Cousins Properties Incorporated (NYSE:CUZ – Free Report) during the third quarter, Holdings Channel.com reports. The fund purchased 7,040 shares of the real estate investment trust’s stock, valued at approximately $208,000.
Other institutional investors have also bought and sold shares of the company. Assetmark Inc. lifted its holdings in Cousins Properties by 19,163.0% during the third quarter. Assetmark Inc. now owns 5,201 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 5,174 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Cousins Properties by 3.9% in the third quarter. Principal Financial Group Inc. now owns 12,140,948 shares of the real estate investment trust’s stock valued at $357,910,000 after purchasing an additional 458,387 shares during the period. Van ECK Associates Corp lifted its stake in shares of Cousins Properties by 10.7% during the 3rd quarter. Van ECK Associates Corp now owns 29,043 shares of the real estate investment trust’s stock valued at $908,000 after buying an additional 2,800 shares in the last quarter. US Bancorp DE boosted its holdings in Cousins Properties by 5.4% in the 3rd quarter. US Bancorp DE now owns 18,904 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 976 shares during the period. Finally, abrdn plc boosted its holdings in Cousins Properties by 8.4% in the 3rd quarter. abrdn plc now owns 30,089 shares of the real estate investment trust’s stock worth $887,000 after buying an additional 2,327 shares during the period. Hedge funds and other institutional investors own 94.38% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Evercore ISI increased their target price on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Robert W. Baird increased their price objective on Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a report 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. Barclays upped 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, StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Cousins Properties currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.
Cousins Properties Price Performance
Shares of NYSE CUZ opened at $31.72 on Friday. The stock’s 50-day simple moving average is $30.40 and its two-hundred day simple moving average is $26.90. Cousins Properties Incorporated has a twelve month low of $19.48 and a twelve month high of $32.44. The firm has a market capitalization of $4.83 billion, a P/E ratio of 96.12, a P/E/G ratio of 4.20 and a beta of 1.29. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60.
Cousins Properties (NYSE:CUZ – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $209.21 million during 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 for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. As a group, equities analysts anticipate that Cousins Properties Incorporated will post 2.68 EPS for the current fiscal year.
Cousins Properties Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is currently 387.88%.
Insider Transactions at Cousins Properties
In related news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s 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 directly owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This trade represents a 32.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by insiders.
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.
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