Point72 Asia Singapore Pte. Ltd. Grows Stake in Cousins Properties Incorporated (NYSE:CUZ)

Point72 Asia Singapore Pte. Ltd. grew its position in Cousins Properties Incorporated (NYSE:CUZ) by 99.2% during the third quarter, Holdings Channel reports. The institutional investor owned 9,930 shares of the real estate investment trust’s stock after acquiring an additional 4,946 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Cousins Properties were worth $293,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cousins Properties by 411.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,113,403 shares of the real estate investment trust’s stock worth $32,823,000 after acquiring an additional 895,917 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cousins Properties by 3.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,786 shares of the real estate investment trust’s stock valued at $1,792,000 after purchasing an additional 1,882 shares during the period. Glenmede Trust Co. NA increased its stake in shares of Cousins Properties by 33.8% during the third quarter. Glenmede Trust Co. NA now owns 12,543 shares of the real estate investment trust’s stock worth $370,000 after purchasing an additional 3,171 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Cousins Properties by 24.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 113,081 shares of the real estate investment trust’s stock worth $3,334,000 after purchasing an additional 22,169 shares during the last quarter. Finally, FMR LLC lifted its stake in Cousins Properties by 69.8% in the 3rd quarter. FMR LLC now owns 19,161 shares of the real estate investment trust’s stock valued at $565,000 after buying an additional 7,877 shares in the last quarter. 94.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CUZ. Robert W. Baird boosted their target price on Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their price objective on shares of Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. BMO Capital Markets cut shares of Cousins Properties from an “outperform” rating to a “market perform” rating and increased their price target for the company from $31.00 to $32.00 in a research note on Tuesday. Finally, Evercore ISI lifted their price target 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 analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cousins Properties presently has an average rating of “Moderate Buy” and a consensus target price of $31.57.

Cousins Properties Stock Down 1.4 %

Cousins Properties stock opened at $30.87 on Wednesday. Cousins Properties Incorporated has a fifty-two week low of $21.58 and a fifty-two week high of $32.55. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 93.53, a price-to-earnings-growth ratio of 4.17 and a beta of 1.29. The stock’s fifty day moving average is $30.70 and its two-hundred day moving average is $27.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17.

Cousins Properties (NYSE:CUZ) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). The business had revenue of $209.21 million for the quarter, compared to analyst estimates of $212.54 million. Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. Analysts predict that Cousins Properties Incorporated will post 2.68 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s payout ratio is 387.88%.

Insider Transactions at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the transaction, the chief accounting officer now owns 12,529 shares in the company, valued at $352,440.77. The trade was a 32.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Cousins Properties Company 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.