Victory Capital Management Inc. Purchases 2,418 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Victory Capital Management Inc. raised its position in Cousins Properties Incorporated (NYSE:CUZ) by 3.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 67,728 shares of the real estate investment trust’s stock after buying an additional 2,418 shares during the quarter. Victory Capital Management Inc.’s holdings in Cousins Properties were worth $1,997,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Cousins Properties by 368.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,947 shares of the real estate investment trust’s stock worth $23,052,000 after purchasing an additional 615,118 shares in the last quarter. Entropy Technologies LP bought a new stake in Cousins Properties during the third quarter worth $511,000. Los Angeles Capital Management LLC lifted its stake in Cousins Properties by 35.8% in the third quarter. Los Angeles Capital Management LLC now owns 118,236 shares of the real estate investment trust’s stock valued at $3,486,000 after acquiring an additional 31,199 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Cousins Properties by 1.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 131,391 shares of the real estate investment trust’s stock valued at $3,873,000 after acquiring an additional 1,977 shares during the period. Finally, Atria Investments Inc acquired a new position in shares of Cousins Properties during the 3rd quarter worth about $208,000. Institutional investors and hedge funds own 94.38% of the company’s stock.

Cousins Properties Price Performance

Shares of CUZ stock opened at $31.72 on Monday. The business’s fifty day moving average is $30.40 and its 200 day moving average is $26.95. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 96.12, a PEG ratio of 4.20 and a beta of 1.29. Cousins Properties Incorporated has a twelve month low of $19.48 and a twelve month high of $32.44.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). The firm 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 business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. Research analysts expect that Cousins Properties Incorporated will post 2.68 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 387.88%.

Insiders Place Their Bets

In other 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 value of $168,695.61. Following the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at $352,440.77. This trade represents a 32.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Barclays lifted their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Evercore ISI boosted their price target on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Truist Financial lifted their price objective on shares of Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Robert W. Baird increased their price objective on shares of Cousins Properties from $31.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.50.

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.