Point72 Asset Management L.P. Purchases 410,100 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Point72 Asset Management L.P. raised its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 1,380.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 439,800 shares of the real estate investment trust’s stock after purchasing an additional 410,100 shares during the quarter. Point72 Asset Management L.P. owned about 0.28% of Cousins Properties worth $13,475,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in shares of Cousins Properties by 1,609.3% in the 4th quarter. Jones Financial Companies Lllp now owns 923 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 869 shares during the last quarter. UMB Bank n.a. raised its position in Cousins Properties by 67.4% during the fourth quarter. UMB Bank n.a. now owns 981 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 395 shares during the period. FIL Ltd raised its position in Cousins Properties by 24.6% during the fourth quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 643 shares during the period. CIBC Private Wealth Group LLC raised its position in Cousins Properties by 473.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,301 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 3,551 shares during the period. Finally, Quarry LP raised its position in shares of Cousins Properties by 9.4% in the fourth quarter. Quarry LP now owns 4,351 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 375 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

Cousins Properties Stock Performance

NYSE:CUZ opened at $28.68 on Friday. The firm’s fifty day moving average price is $27.93 and its 200 day moving average price is $29.58. Cousins Properties Incorporated has a 1-year low of $22.01 and a 1-year high of $32.55. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 95.58, a price-to-earnings-growth ratio of 2.98 and a beta of 1.34.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $6.81 million for the quarter, compared to analyst estimates of $238.49 million. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. Cousins Properties’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. On average, sell-side analysts expect that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, April 3rd were given a dividend of $0.32 per share. The ex-dividend date was Thursday, April 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.46%. Cousins Properties’s payout ratio is currently 387.88%.

Analyst Ratings Changes

CUZ has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Cousins Properties from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Wolfe Research raised shares of Cousins Properties from a “peer perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research note on Monday, April 7th. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. Robert W. Baird decreased their price target on shares of Cousins Properties from $34.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Finally, Jefferies Financial Group started coverage on shares of Cousins Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $35.00 price target for the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cousins Properties has an average rating of “Moderate Buy” and a consensus target price of $32.70.

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.