Cullen Capital Management LLC Takes $1.14 Million Position in Cousins Properties Incorporated (NYSE:CUZ)

Cullen Capital Management LLC bought a new stake in Cousins Properties Incorporated (NYSE:CUZFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,812 shares of the real estate investment trust’s stock, valued at approximately $1,140,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Retirement Systems of Alabama increased its holdings in shares of Cousins Properties by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 190,091 shares of the real estate investment trust’s stock valued at $4,629,000 after purchasing an additional 584 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Cousins Properties by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 67,107 shares of the real estate investment trust’s stock valued at $1,634,000 after purchasing an additional 650 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Cousins Properties by 5.3% in the fourth quarter. Truist Financial Corp now owns 15,558 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 781 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Cousins Properties by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 234,362 shares of the real estate investment trust’s stock valued at $5,798,000 after purchasing an additional 788 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its holdings in shares of Cousins Properties by 3.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 28,026 shares of the real estate investment trust’s stock valued at $682,000 after purchasing an additional 832 shares in the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

Insider Activity at Cousins Properties

In related news, CFO Gregg D. Adzema sold 71,097 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total value of $1,657,271.07. Following the transaction, the chief financial officer now owns 85,872 shares in the company, valued at approximately $2,001,676.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays lowered their price target on shares of Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $23.67.

Check Out Our Latest Report on CUZ

Cousins Properties Price Performance

Shares of CUZ stock opened at $22.85 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $23.04 and a 200-day moving average of $23.15. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 3.79 and a beta of 1.28. Cousins Properties Incorporated has a 12-month low of $17.40 and a 12-month high of $25.19.

Cousins Properties (NYSE:CUZGet Free Report) 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 analysts’ consensus estimates of $0.63 by ($0.54). The firm had revenue of $209.20 million during the quarter, compared to the consensus estimate of $199.35 million. Cousins Properties had a net margin of 9.15% and a return on equity of 1.62%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. On average, equities research analysts forecast that Cousins Properties Incorporated will post 2.64 earnings per share for the current year.

Cousins Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, April 4th were issued 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 5.60%. Cousins Properties’s payout ratio is 261.22%.

Cousins Properties Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cousins Properties (NYSE:CUZ)

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