Adage Capital Partners GP L.L.C. Sells 71,687 Shares of Cousins Properties Incorporated $CUZ

Key Points

• Adage Capital Partners GP L.L.C. has reduced its holdings in Cousins Properties by 4.9%, selling 71,687 shares, and now owns approximately 1,403,202 shares valued at $41.4 million.
• Several analyst reports have adjusted their price targets for Cousins Properties, with the average target now at $32.40 and a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $0.32 per share, representing an annualized dividend yield of 4.4%.

Adage Capital Partners GP L.L.C. trimmed its position in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,403,202 shares of the real estate investment trust's stock after selling 71,687 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.84% of Cousins Properties worth $41,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CUZ. GF Fund Management CO. LTD. increased its stake in shares of Cousins Properties by 14.8% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,175 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 410 shares in the last quarter. Cetera Investment Advisers increased its stake in Cousins Properties by 2.7% in the 1st quarter. Cetera Investment Advisers now owns 16,377 shares of the real estate investment trust's stock worth $483,000 after buying an additional 427 shares in the last quarter. Signaturefd LLC increased its stake in Cousins Properties by 16.5% in the 1st quarter. Signaturefd LLC now owns 3,374 shares of the real estate investment trust's stock worth $100,000 after buying an additional 477 shares in the last quarter. Deutsche Bank AG increased its stake in Cousins Properties by 0.5% in the 4th quarter. Deutsche Bank AG now owns 110,867 shares of the real estate investment trust's stock worth $3,397,000 after buying an additional 521 shares in the last quarter. Finally, State of Michigan Retirement System increased its stake in Cousins Properties by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 40,144 shares of the real estate investment trust's stock worth $1,184,000 after buying an additional 600 shares in the last quarter. 94.38% of the stock is owned by institutional investors.

Cousins Properties Price Performance

Shares of CUZ traded up $0.27 during midday trading on Friday, hitting $29.48. 1,780,820 shares of the company traded hands, compared to its average volume of 1,397,860. The firm has a 50 day moving average of $28.31 and a 200-day moving average of $28.47. Cousins Properties Incorporated has a 52 week low of $24.07 and a 52 week high of $32.55. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 79.68, a PEG ratio of 2.67 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.45 and a current ratio of 2.45.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. Cousins Properties had a net margin of 6.51% and a return on equity of 1.27%. The business had revenue of $237.72 million during the quarter, compared to the consensus estimate of $243.73 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The business's revenue was up 12.7% on a year-over-year basis. Cousins Properties has set its FY 2025 guidance at 2.790-2.850 EPS. On average, analysts forecast that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, July 7th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.3%. Cousins Properties's dividend payout ratio (DPR) is presently 345.95%.

Insider Activity at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 4,612 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $29.30, for a total value of $135,131.60. Following the completion of the transaction, the chief accounting officer owned 13,518 shares of the company's stock, valued at approximately $396,077.40. This trade represents a 25.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company's stock.

Analyst Ratings Changes

CUZ has been the subject of a number of analyst reports. Mizuho increased their price target on Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Wall Street Zen lowered Cousins Properties from a "hold" rating to a "sell" rating in a research note on Saturday. 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 research note on Monday, May 19th. Truist Financial cut their price target on Cousins Properties from $31.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company cut their price target on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.40.

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.