Allianz Asset Management GmbH Increases Stake in Cousins Properties Incorporated $CUZ

Key Points

• Allianz Asset Management GmbH increased its stake in Cousins Properties by 64.9% during the second quarter, owning 161,957 shares worth approximately $4.86 million.
• Cousins Properties reported earnings per share of $0.70 for the last quarter, consistent with analyst expectations, and forecasted FY 2025 EPS guidance of $2.790-2.850.
• The company announced a quarterly dividend of $0.32, representing a yield of 4.8%, but has a high dividend payout ratio of 345.95%.

Allianz Asset Management GmbH lifted its stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 64.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,957 shares of the real estate investment trust's stock after buying an additional 63,743 shares during the quarter. Allianz Asset Management GmbH owned about 0.10% of Cousins Properties worth $4,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GF Fund Management CO. LTD. increased its position in shares of Cousins Properties by 14.8% during the first quarter. GF Fund Management CO. LTD. now owns 3,175 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 410 shares during the period. Cetera Investment Advisers boosted its stake in Cousins Properties by 2.7% during the first quarter. Cetera Investment Advisers now owns 16,377 shares of the real estate investment trust's stock worth $483,000 after acquiring an additional 427 shares in the last quarter. Signaturefd LLC boosted its stake in Cousins Properties by 16.5% during the first quarter. Signaturefd LLC now owns 3,374 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 477 shares in the last quarter. Parallel Advisors LLC boosted its stake in Cousins Properties by 14.3% during the second quarter. Parallel Advisors LLC now owns 3,932 shares of the real estate investment trust's stock worth $118,000 after acquiring an additional 493 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in Cousins Properties by 1.5% during the first quarter. State of Michigan Retirement System now owns 40,144 shares of the real estate investment trust's stock worth $1,184,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company's stock.

Cousins Properties Trading Up 0.4%

Shares of NYSE CUZ opened at $26.68 on Friday. The firm's 50 day moving average price is $28.24 and its 200-day moving average price is $28.20. The company has a market cap of $4.48 billion, a PE ratio of 72.09, a P/E/G ratio of 2.40 and a beta of 1.39. Cousins Properties Incorporated has a 52-week low of $24.07 and a 52-week high of $32.55. 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 issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $237.72 million for the quarter, compared to the consensus estimate of $243.73 million. Cousins Properties had a net margin of 6.51% and a return on equity of 1.27%. The business's revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Cousins Properties has set its FY 2025 guidance at 2.790-2.850 EPS. On average, equities research analysts expect that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were issued a $0.32 dividend. The ex-dividend date was Friday, October 3rd. This represents a $1.28 annualized dividend and a yield of 4.8%. Cousins Properties's dividend payout ratio (DPR) is currently 345.95%.

Insider Buying and Selling

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

Analysts Set New Price Targets

CUZ has been the topic of several research reports. Wall Street Zen raised shares of Cousins Properties from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. Jefferies Financial Group lowered shares of Cousins Properties from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $34.00 to $27.00 in a research note on Monday, October 13th. JPMorgan Chase & Co. boosted their price objective on shares of Cousins Properties from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 30th. Truist Financial dropped their price objective on shares of Cousins Properties from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, August 26th. Finally, Evercore ISI boosted their price objective on shares of Cousins Properties from $31.00 to $32.00 and gave the stock an "in-line" rating in a research note on Monday, September 15th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.18.

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.

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