Cousins Properties Incorporated (NYSE:CUZ) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,384,847 shares of the real estate investment trust’s stock after acquiring an additional 12,131 shares during the period. Bank of New York Mellon Corp owned about 0.82% of Cousins Properties worth $40,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System increased its position in Cousins Properties by 13.5% in the first quarter. New York State Teachers Retirement System now owns 166,446 shares of the real estate investment trust’s stock worth $4,910,000 after buying an additional 19,744 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Cousins Properties by 16.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,421 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 1,297 shares in the last quarter. KBC Group NV grew its stake in shares of Cousins Properties by 25.3% in the first quarter. KBC Group NV now owns 7,554 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,527 shares in the last quarter. Amalgamated Bank grew its stake in shares of Cousins Properties by 3.6% in the first quarter. Amalgamated Bank now owns 77,490 shares of the real estate investment trust’s stock worth $2,286,000 after purchasing an additional 2,673 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cousins Properties by 130.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,768 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 5,522 shares in the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on CUZ shares. Mizuho raised their target price on Cousins Properties from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company decreased their target price on Cousins Properties from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Truist Financial cut Cousins Properties from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Wednesday, July 2nd. Evercore ISI raised their target price on Cousins Properties from $30.00 to $31.00 and gave the company an “in-line” rating in a research note on Monday, May 19th. Finally, Wolfe Research upgraded Cousins Properties from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Monday, April 7th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Cousins Properties currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Cousins Properties Price Performance

Shares of NYSE:CUZ opened at $29.14 on Tuesday. Cousins Properties Incorporated has a 1-year low of $24.02 and a 1-year high of $32.55. The firm has a market capitalization of $4.89 billion, a PE ratio of 88.29, a PEG ratio of 2.70 and a beta of 1.33. The business’s 50 day moving average is $28.96 and its 200-day moving average is $29.08. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Cousins Properties had a return on equity of 1.15% and a net margin of 5.97%. The business had revenue of $6.81 million for the quarter, compared to analyst estimates of $238.49 million. During the same quarter in the previous year, the firm earned $0.65 EPS. Cousins Properties’s quarterly revenue was up 16.4% on a year-over-year basis. Sell-side analysts predict that Cousins Properties Incorporated will post 2.76 earnings per share for the current year.

Cousins Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, July 7th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.39%. Cousins Properties’s payout ratio is currently 387.88%.

Cousins Properties Company 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.