Brookfield Corp ON Acquires Shares of 1,537,379 Cousins Properties Incorporated (NYSE:CUZ)

Brookfield Corp ON acquired a new stake in Cousins Properties Incorporated (NYSE:CUZ) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,537,379 shares of the real estate investment trust’s stock, valued at approximately $32,869,000. Brookfield Corp ON owned about 1.01% of Cousins Properties at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CUZ. HighTower Advisors LLC raised its stake in shares of Cousins Properties by 24.3% during the first quarter. HighTower Advisors LLC now owns 8,349 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 1,633 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Cousins Properties by 2.1% during the first quarter. PNC Financial Services Group Inc. now owns 14,922 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 306 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new stake in shares of Cousins Properties during the first quarter worth approximately $287,000. Natixis Advisors L.P. raised its stake in shares of Cousins Properties by 13.1% during the first quarter. Natixis Advisors L.P. now owns 16,971 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 1,969 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Cousins Properties by 115.7% during the first quarter. Bank of Montreal Can now owns 66,926 shares of the real estate investment trust’s stock worth $2,752,000 after purchasing an additional 35,897 shares during the last quarter.

Cousins Properties Stock Down 1.6 %

CUZ opened at $22.72 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.53. The firm has a market cap of $3.45 billion, a P/E ratio of 22.95, a PEG ratio of 2.65 and a beta of 1.17. Cousins Properties Incorporated has a 52 week low of $18.06 and a 52 week high of $28.77. The business’s fifty day simple moving average is $23.33 and its 200 day simple moving average is $22.00.

Cousins Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Thursday, July 6th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend was Wednesday, July 5th. Cousins Properties’s payout ratio is currently 129.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CUZ. Barclays upped their price objective on Cousins Properties from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. KeyCorp began coverage on Cousins Properties in a report on Monday. They set an “underweight” rating on the stock. Truist Financial dropped their price objective on Cousins Properties from $28.00 to $27.00 in a report on Thursday, July 6th. StockNews.com began coverage on Cousins Properties in a report on Saturday, August 19th. They issued a “hold” rating on the stock. Finally, Evercore ISI upped their target price on Cousins Properties from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cousins Properties currently has an average rating of “Hold” and a consensus target price of $26.33.

Cousins Properties Profile

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.