Allstate Corp Takes $506,000 Position in Cousins Properties Incorporated $CUZ

Key Points

• Allstate Corp has acquired a new position in Cousins Properties Incorporated ($CUZ), purchasing 17,152 shares valued at approximately $506,000.
• A large majority of the company's stock, approximately 94.38%, is owned by institutional investors and hedge funds, indicating strong financial backing.
• Cousins Properties has announced a quarterly dividend of $0.32 per share, resulting in an annualized dividend yield of 4.5%, despite a high payout ratio of 345.95%.

Allstate Corp acquired a new position in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,152 shares of the real estate investment trust's stock, valued at approximately $506,000.

Several other institutional investors have also recently bought and sold shares of CUZ. Spire Wealth Management acquired a new position in Cousins Properties during the first quarter worth $25,000. N.E.W. Advisory Services LLC acquired a new position in Cousins Properties during the first quarter worth $36,000. Manchester Capital Management LLC raised its holdings in Cousins Properties by 579.7% during the first quarter. Manchester Capital Management LLC now owns 2,712 shares of the real estate investment trust's stock worth $80,000 after buying an additional 2,313 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Cousins Properties during the fourth quarter worth $85,000. Finally, Signaturefd LLC raised its holdings 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 buying an additional 477 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on CUZ. Wall Street Zen raised shares of Cousins Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Evercore ISI lifted their price objective on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Truist Financial cut their price objective on shares of Cousins Properties from $31.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price objective on shares of Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, Mizuho lifted their price objective on shares of Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Cousins Properties currently has a consensus rating of "Moderate Buy" and an average target price of $32.40.

Cousins Properties Stock Performance

Shares of Cousins Properties stock traded up $0.29 during trading hours on Friday, hitting $29.48. 1,372,305 shares of the company's stock traded hands, compared to its average volume of 1,490,064. Cousins Properties Incorporated has a 12-month low of $24.07 and a 12-month high of $32.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.45 and a quick ratio of 2.45. The company has a fifty day simple moving average of $28.42 and a 200-day simple moving average of $28.52. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 79.69, a PEG ratio of 2.62 and a beta of 1.33.

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

Cousins Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, July 7th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, July 7th. Cousins Properties's dividend payout ratio is currently 345.95%.

About Cousins Properties

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.