CORDA Investment Management LLC. bought a new position in Cousins Properties Incorporated (NYSE:CUZ) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 315,657 shares of the real estate investment trust’s stock, valued at approximately $11,158,000. CORDA Investment Management LLC. owned 0.21% of Cousins Properties at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Cousins Properties by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 10,073,658 shares of the real estate investment trust’s stock worth $356,103,000 after buying an additional 176,751 shares during the period. JPMorgan Chase & Co. raised its position in shares of Cousins Properties by 14.9% in the 4th quarter. JPMorgan Chase & Co. now owns 5,673,337 shares of the real estate investment trust’s stock worth $190,058,000 after buying an additional 734,350 shares during the period. Boston Partners raised its position in shares of Cousins Properties by 7.3% in the 1st quarter. Boston Partners now owns 5,588,702 shares of the real estate investment trust’s stock worth $197,702,000 after buying an additional 379,024 shares during the period. Alliancebernstein L.P. raised its position in shares of Cousins Properties by 19.0% in the 1st quarter. Alliancebernstein L.P. now owns 4,375,811 shares of the real estate investment trust’s stock worth $154,685,000 after buying an additional 699,077 shares during the period. Finally, Kohlberg Kravis Roberts & Co. L.P. increased its holdings in Cousins Properties by 56.6% in the 4th quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 3,082,280 shares of the real estate investment trust’s stock valued at $103,256,000 after purchasing an additional 1,113,672 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.
Separately, Robert W. Baird upgraded Cousins Properties from a “neutral” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Wednesday, April 14th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $36.63.
NYSE CUZ traded down $0.08 during trading hours on Friday, hitting $39.50. The company had a trading volume of 6,429 shares, compared to its average volume of 917,022. Cousins Properties Incorporated has a fifty-two week low of $24.17 and a fifty-two week high of $39.59. The stock has a market cap of $5.87 billion, a P/E ratio of 63.84, a price-to-earnings-growth ratio of 3.01 and a beta of 1.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.29 and a quick ratio of 1.29. The business’s 50 day moving average is $36.44.
Cousins Properties (NYSE:CUZ) last announced its earnings results on Thursday, April 29th. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. Cousins Properties had a return on equity of 2.03% and a net margin of 12.43%. As a group, equities analysts predict that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 19th. Stockholders of record on Tuesday, April 6th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, April 5th. This is an increase from Cousins Properties’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 3.14%. Cousins Properties’s dividend payout ratio (DPR) is currently 44.60%.
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 towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.
See Also: Systematic Risk
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