Retirement Systems of Alabama boosted its position in shares of Cousins Properties Inc (NYSE:CUZ) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,779 shares of the real estate investment trust’s stock after buying an additional 1,766 shares during the period. Retirement Systems of Alabama’s holdings in Cousins Properties were worth $7,171,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Asset Dedication LLC increased its position in Cousins Properties by 46.2% during the third quarter. Asset Dedication LLC now owns 1,545 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 488 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in Cousins Properties during the second quarter worth approximately $26,000. Pflug Koory LLC acquired a new position in shares of Cousins Properties in the second quarter valued at approximately $25,000. Edge Wealth Management LLC acquired a new position in shares of Cousins Properties in the second quarter valued at approximately $26,000. Finally, Legacy Bridge LLC acquired a new position in shares of Cousins Properties in the second quarter valued at approximately $36,000. 93.93% of the stock is currently owned by institutional investors.
NYSE:CUZ opened at $39.88 on Thursday. The firm has a market cap of $5.96 billion, a P/E ratio of 15.83, a PEG ratio of 3.97 and a beta of 0.89. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $37.84 and its 200-day simple moving average is $28.59. Cousins Properties Inc has a 12-month low of $30.12 and a 12-month high of $40.81.
Cousins Properties (NYSE:CUZ) last released its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.55). The company had revenue of $180.83 million during the quarter, compared to analyst estimates of $174.03 million. Cousins Properties had a net margin of 9.50% and a return on equity of 1.55%. The company’s revenue for the quarter was up 56.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. Research analysts forecast that Cousins Properties Inc will post 2.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Wednesday, October 2nd. Cousins Properties’s payout ratio is currently 46.03%.
A number of research analysts have recently issued reports on CUZ shares. ValuEngine lowered Cousins Properties from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research lowered Cousins Properties from a “hold” rating to a “sell” rating and set a $39.00 target price on the stock. in a report on Thursday, September 12th. Stifel Nicolaus set a $42.00 target price on Cousins Properties and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Wells Fargo & Co raised Cousins Properties from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $38.00 to $42.00 in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $33.50.
About Cousins Properties
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.
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