Los Angeles Capital Management LLC Invests $1.75 Million in Cousins Properties Incorporated (NYSE:CUZ)

Los Angeles Capital Management LLC purchased a new position in Cousins Properties Incorporated (NYSE:CUZ) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,979 shares of the real estate investment trust’s stock, valued at approximately $1,753,000.

Several other institutional investors also recently added to or reduced their stakes in CUZ. Vanguard Group Inc. increased its holdings in Cousins Properties by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 22,680,320 shares of the real estate investment trust’s stock worth $461,998,000 after purchasing an additional 670,381 shares during the period. Aew Capital Management L P boosted its position in Cousins Properties by 34.6% during the 3rd quarter. Aew Capital Management L P now owns 2,190,650 shares of the real estate investment trust’s stock valued at $44,624,000 after acquiring an additional 563,270 shares in the last quarter. Jennison Associates LLC grew its stake in Cousins Properties by 53.2% in the fourth quarter. Jennison Associates LLC now owns 1,092,361 shares of the real estate investment trust’s stock valued at $26,599,000 after purchasing an additional 379,134 shares during the last quarter. LSV Asset Management grew its position in shares of Cousins Properties by 306.4% in the 3rd quarter. LSV Asset Management now owns 382,749 shares of the real estate investment trust’s stock worth $7,797,000 after buying an additional 288,563 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Cousins Properties in the third quarter worth $5,396,000. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CUZ. Barclays lowered their price objective on Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Truist Financial dropped their price target on Cousins Properties from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 16th. Finally, StockNews.com lowered shares of Cousins Properties from a “hold” rating to a “sell” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Cousins Properties presently has a consensus rating of “Hold” and a consensus price target of $23.67.

Insider Buying and Selling

In other Cousins Properties news, CFO Gregg D. Adzema sold 71,097 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $1,657,271.07. Following the completion of the transaction, the chief financial officer now directly owns 85,872 shares of the company’s stock, valued at $2,001,676.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Cousins Properties Price Performance

Shares of NYSE:CUZ opened at $23.74 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.57. Cousins Properties Incorporated has a twelve month low of $17.40 and a twelve month high of $25.19. The company’s 50 day moving average is $23.09 and its 200 day moving average is $22.42. The company has a market cap of $3.61 billion, a PE ratio of 48.45, a price-to-earnings-growth ratio of 5.06 and a beta of 1.27.

Cousins Properties (NYSE:CUZ) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.54). Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The business had revenue of $209.20 million for the quarter, compared to analysts’ expectations of $199.35 million. During the same period last year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts forecast that Cousins Properties Incorporated will post 2.63 EPS for the current year.

Cousins Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, April 4th were paid a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.39%. Cousins Properties’s payout ratio is 261.22%.

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.