Intech Investment Management LLC Takes Position in Cousins Properties Incorporated (NYSE:CUZ)

Intech Investment Management LLC bought a new position in shares of Cousins Properties Incorporated (NYSE:CUZ) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,022 shares of the real estate investment trust’s stock, valued at approximately $464,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Cousins Properties by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock worth $561,412,000 after buying an additional 456,251 shares during the last quarter. Centersquare Investment Management LLC boosted its position in Cousins Properties by 8.9% during the first quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust’s stock valued at $112,377,000 after purchasing an additional 399,468 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Cousins Properties by 49.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,781,184 shares of the real estate investment trust’s stock worth $67,722,000 after purchasing an additional 916,508 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cousins Properties by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,214,595 shares of the real estate investment trust’s stock worth $51,266,000 after purchasing an additional 98,222 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Cousins Properties by 75.6% during the 1st quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust’s stock worth $46,107,000 after purchasing an additional 825,547 shares in the last quarter. Institutional investors own 94.38% of the company’s stock.

Cousins Properties Price Performance

Shares of Cousins Properties stock opened at $29.50 on Friday. The company has a 50-day simple moving average of $27.72 and a two-hundred day simple moving average of $24.75. Cousins Properties Incorporated has a twelve month low of $17.40 and a twelve month high of $30.50. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 60.20, a price-to-earnings-growth ratio of 4.90 and a beta of 1.31. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $208.18 million. During the same quarter last year, the firm posted $2.75 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts forecast that Cousins Properties Incorporated will post 2.67 EPS for the current year.

Cousins Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.

Insider Activity at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total value 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on CUZ shares. Barclays increased their price target on shares of Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Robert W. Baird lifted their price target on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial raised their price target on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI upped their price objective on shares of Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Finally, Wells Fargo & Company raised their target price on shares of Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. One research analyst has 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.29.

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.