Arrowstreet Capital Limited Partnership Invests $15.24 Million in Cousins Properties Incorporated $CUZ

Key Points

• Arrowstreet Capital acquired 675,108 shares of Cousins Properties, valued at approximately $15.24 million, representing about 0.41% of the REIT. Institutional investors collectively own 94.38% of the company.
• Cousins Properties reported quarterly revenue of $263.11 million, up 7.4% year over year, but missed earnings expectations with a loss of $0.15 per share versus the projected $0.06 profit.
• The company maintains a quarterly dividend of $0.32 per share, equivalent to a 4.0% annualized yield. Analysts hold a Moderate Buy consensus rating, with an average price target of $30.91.

Arrowstreet Capital Limited Partnership purchased a new stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 675,108 shares of the real estate investment trust's stock, valued at approximately $15,237,000. Arrowstreet Capital Limited Partnership owned approximately 0.41% of Cousins Properties as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. increased its stake in shares of Cousins Properties by 308.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 5,175,415 shares of the real estate investment trust's stock valued at $133,422,000 after buying an additional 3,909,740 shares during the period. Norges Bank purchased a new stake in Cousins Properties in the fourth quarter worth about $53,063,000. Invesco Ltd. grew its holdings in Cousins Properties by 153.2% during the 3rd quarter. Invesco Ltd. now owns 3,170,386 shares of the real estate investment trust's stock worth $91,751,000 after acquiring an additional 1,918,393 shares in the last quarter. Millennium Management LLC grew its holdings in Cousins Properties by 984.5% during the 4th quarter. Millennium Management LLC now owns 1,542,384 shares of the real estate investment trust's stock worth $39,763,000 after acquiring an additional 1,400,164 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in Cousins Properties during the 3rd quarter valued at about $29,341,000. Institutional investors own 94.38% of the company's stock.

Cousins Properties Stock Performance

CUZ opened at $31.90 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average of $29.51 and a two-hundred day moving average of $26.14. Cousins Properties Incorporated has a 12-month low of $21.03 and a 12-month high of $32.95. The firm has a market capitalization of $5.25 billion, a PE ratio of -1,062.98, a P/E/G ratio of 2.37 and a beta of 1.19.

Cousins Properties (NYSE:CUZ - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.21). The business had revenue of $263.11 million during the quarter, compared to analysts' expectations of $256.77 million. Cousins Properties had a negative net margin of 0.52% and a negative return on equity of 0.11%. Cousins Properties's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. On average, analysts anticipate that Cousins Properties Incorporated will post 2.95 EPS for the current year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Monday, July 6th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, July 6th. Cousins Properties's dividend payout ratio (DPR) is currently -4,266.67%.

Analysts Set New Price Targets

CUZ has been the topic of several research reports. Weiss Ratings raised shares of Cousins Properties from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, June 25th. Mizuho upped their target price on Cousins Properties from $27.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Evercore reaffirmed an "outperform" rating and set a $34.00 target price on shares of Cousins Properties in a research report on Monday, July 6th. Barclays lifted their price target on Cousins Properties from $28.00 to $34.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their price target on Cousins Properties from $28.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cousins Properties presently has an average rating of "Moderate Buy" and an average target price of $30.91.

About Cousins Properties

Cousins Properties Incorporated NYSE: CUZ is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.

Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.

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