Vert Asset Management LLC Takes $2.03 Million Position in Cousins Properties Incorporated (NYSE:CUZ)

Vert Asset Management LLC purchased a new stake in shares of Cousins Properties Incorporated (NYSE:CUZ) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 68,664 shares of the real estate investment trust’s stock, valued at approximately $2,026,000. Cousins Properties makes up approximately 0.7% of Vert Asset Management LLC’s portfolio, making the stock its 28th largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in shares of Cousins Properties by 4.0% during the first quarter. Rhumbline Advisers now owns 485,524 shares of the real estate investment trust’s stock worth $14,323,000 after purchasing an additional 18,674 shares during the period. GAMMA Investing LLC grew its position in shares of Cousins Properties by 4,075.6% during the 1st quarter. GAMMA Investing LLC now owns 31,359 shares of the real estate investment trust’s stock valued at $925,000 after buying an additional 30,608 shares during the last quarter. Versant Capital Management Inc raised its stake in Cousins Properties by 470.2% during the first quarter. Versant Capital Management Inc now owns 11,187 shares of the real estate investment trust’s stock worth $330,000 after acquiring an additional 9,225 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Cousins Properties in the fourth quarter worth about $11,456,000. Finally, Employees Retirement System of Texas boosted its position in Cousins Properties by 155.1% during the 4th quarter. Employees Retirement System of Texas now owns 125,000 shares of the real estate investment trust’s stock valued at $3,830,000 after purchasing an additional 76,000 shares during the period. 94.38% of the stock is currently owned by institutional investors.

Cousins Properties Stock Up 2.6%

Shares of Cousins Properties stock opened at $29.43 on Monday. Cousins Properties Incorporated has a 12-month low of $22.16 and a 12-month high of $32.55. The firm has a market capitalization of $4.94 billion, a PE ratio of 98.08, a price-to-earnings-growth ratio of 2.98 and a beta of 1.32. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average is $27.47 and its 200-day moving average is $29.24.

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 (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. The firm had revenue of $6.81 million for the quarter, compared to the consensus estimate of $238.49 million. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts anticipate that Cousins Properties Incorporated will post 2.76 earnings per share for the current year.

Cousins Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, April 3rd were given a $0.32 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.35%. Cousins Properties’s dividend payout ratio (DPR) is presently 387.88%.

Analysts Set New Price Targets

Several research analysts have commented on CUZ shares. Evercore ISI upped their target price on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. Truist Financial decreased their price objective on shares of Cousins Properties from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, May 22nd. Wells Fargo & Company dropped their target price on Cousins Properties from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Robert W. Baird cut their target price on Cousins Properties from $34.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Finally, Wall Street Zen upgraded Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cousins Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

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.