Cousins Properties Incorporated (NYSE:CUZ) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 93.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,700 shares of the real estate investment trust’s stock after selling 432,061 shares during the quarter. Point72 Asset Management L.P.’s holdings in Cousins Properties were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in Cousins Properties by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 12,140,948 shares of the real estate investment trust’s stock worth $357,910,000 after acquiring an additional 458,387 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cousins Properties by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,488,358 shares of the real estate investment trust’s stock worth $73,357,000 after purchasing an additional 82,521 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Cousins Properties by 3,768.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,337,416 shares of the real estate investment trust’s stock worth $68,907,000 after purchasing an additional 2,276,986 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cousins Properties by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,214,595 shares of the real estate investment trust’s stock valued at $51,266,000 after purchasing an additional 98,222 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Cousins Properties by 15.9% in the 3rd quarter. Jennison Associates LLC now owns 2,205,415 shares of the real estate investment trust’s stock valued at $65,016,000 after purchasing an additional 302,309 shares during the period. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Stock Down 2.9 %

CUZ stock opened at $30.10 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $30.82 and its 200 day moving average price is $27.59. Cousins Properties Incorporated has a 52 week low of $21.58 and a 52 week high of $32.55. The company has a market cap of $4.58 billion, a P/E ratio of 91.21, a P/E/G ratio of 4.09 and a beta of 1.29.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.60). Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. The firm had revenue of $209.21 million for the quarter, compared to analysts’ expectations of $212.54 million. During the same period last year, the firm earned $0.65 EPS. Cousins Properties’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Cousins Properties Incorporated will post 2.68 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is currently 387.88%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Truist Financial increased their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. StockNews.com upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. BMO Capital Markets cut shares of Cousins Properties from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $31.00 to $32.00 in a research note on Tuesday, December 3rd. Finally, Evercore ISI raised their price objective on shares of Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.57.

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.