Westpac Banking Corp lessened its stake in Cousins Properties Incorporated (NYSE:CUZ – Free Report) by 85.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,143 shares of the real estate investment trust’s stock after selling 324,730 shares during the period. Westpac Banking Corp’s holdings in Cousins Properties were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in CUZ. Vanguard Group Inc. boosted its holdings in shares of Cousins Properties by 1.5% in the third quarter. Vanguard Group Inc. now owns 21,940,185 shares of the real estate investment trust’s stock valued at $512,303,000 after acquiring an additional 315,202 shares during the period. BlackRock Inc. boosted its stake in shares of Cousins Properties by 2.1% during the first quarter. BlackRock Inc. now owns 19,906,599 shares of the real estate investment trust’s stock worth $425,603,000 after buying an additional 412,779 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Cousins Properties by 0.3% during the second quarter. Principal Financial Group Inc. now owns 10,788,870 shares of the real estate investment trust’s stock worth $245,987,000 after buying an additional 30,669 shares during the period. State Street Corp lifted its position in Cousins Properties by 0.9% during the 1st quarter. State Street Corp now owns 8,465,793 shares of the real estate investment trust’s stock worth $180,999,000 after acquiring an additional 73,517 shares during the period. Finally, Centersquare Investment Management LLC lifted its position in Cousins Properties by 11.0% during the 1st quarter. Centersquare Investment Management LLC now owns 3,338,260 shares of the real estate investment trust’s stock worth $134,498,000 after acquiring an additional 330,967 shares during the period.
Wall Street Analysts Forecast Growth
CUZ has been the subject of several recent research reports. Barclays increased their price target on Cousins Properties from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. Mizuho reduced their price target on Cousins Properties from $22.00 to $19.00 and set an “underperform” rating for the company in a report on Wednesday, October 18th. KeyCorp assumed coverage on Cousins Properties in a report on Monday, September 11th. They issued an “underweight” rating and a $19.00 price target for the company. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Truist Financial upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and raised their price objective for the company from $27.00 to $28.00 in a research note on Friday, September 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.20.
Cousins Properties Stock Performance
Shares of CUZ opened at $19.98 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.53. The stock has a market cap of $3.03 billion, a P/E ratio of 33.86, a PEG ratio of 2.35 and a beta of 1.21. The company has a 50-day moving average of $19.70 and a two-hundred day moving average of $21.32. Cousins Properties Incorporated has a 12-month low of $17.40 and a 12-month high of $28.66.
Cousins Properties Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Wednesday, October 4th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, October 3rd. This represents a $1.28 annualized dividend and a dividend yield of 6.41%. Cousins Properties’s dividend payout ratio is currently 216.95%.
Cousins Properties Company 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.
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