Neo Ivy Capital Management Purchases Shares of 53,550 Cousins Properties Incorporated (NYSE:CUZ)

Key Points

• Neo Ivy Capital Management acquired 53,550 shares of Cousins Properties Incorporated (NYSE:CUZ), valued at approximately $1.58 million, indicating institutional interest in the real estate investment trust.
• Cousins Properties reported an EPS of $0.74 for the last quarter, beating the consensus estimate by $0.03, with year-over-year revenue growth of 16.4%.
• The company recently announced a quarterly dividend of $0.32, reflecting a yield of 4.61%, albeit with a significant payout ratio of 387.88%.

Neo Ivy Capital Management bought a new position in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 53,550 shares of the real estate investment trust's stock, valued at approximately $1,580,000.

A number of other large investors have also recently made changes to their positions in CUZ. Choreo LLC grew its position in shares of Cousins Properties by 25.6% during the first quarter. Choreo LLC now owns 27,837 shares of the real estate investment trust's stock worth $821,000 after acquiring an additional 5,681 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Cousins Properties by 13.5% during the first quarter. New York State Teachers Retirement System now owns 166,446 shares of the real estate investment trust's stock worth $4,910,000 after acquiring an additional 19,744 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Cousins Properties by 16.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,421 shares of the real estate investment trust's stock worth $278,000 after acquiring an additional 1,297 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Cousins Properties by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 1,384,847 shares of the real estate investment trust's stock worth $40,853,000 after acquiring an additional 12,131 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Cousins Properties by 25.3% during the first quarter. KBC Group NV now owns 7,554 shares of the real estate investment trust's stock worth $223,000 after acquiring an additional 1,527 shares during the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Cousins Properties Price Performance

Cousins Properties stock traded up $0.33 during midday trading on Tuesday, reaching $27.63. 337,174 shares of the company were exchanged, compared to its average volume of 1,468,042. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 83.74, a P/E/G ratio of 2.59 and a beta of 1.33. The firm's 50-day simple moving average is $29.00 and its 200-day simple moving average is $28.94. Cousins Properties Incorporated has a 1 year low of $24.07 and a 1 year high of $32.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.89.

Cousins Properties (NYSE:CUZ - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.03. The firm had revenue of $6.81 million during the quarter, compared to analysts' expectations of $238.49 million. Cousins Properties had a return on equity of 1.15% and a net margin of 5.97%. The firm's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. On average, analysts anticipate that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, July 7th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Monday, July 7th. Cousins Properties's dividend payout ratio (DPR) is 387.88%.

Analyst Ratings Changes

CUZ has been the subject of several recent research reports. Mizuho increased their price target on Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Truist Financial downgraded Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a report on Wednesday, July 2nd. Wolfe Research raised Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a report on Monday, April 7th. Evercore ISI increased their price target on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.50.

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.