Resolution Capital Ltd Raises Position in Cousins Properties Incorporated $CUZ

Key Points

• Resolution Capital Ltd increased its stake in Cousins Properties by 33.5%, now owning approximately 5.9 million shares, which accounts for around 3.4% of its total holdings.
• Shares of Cousins Properties have recently seen a 0.9% increase, with a current trading price around $29.48 and a market capitalization of $4.95 billion.
• The company declared a quarterly dividend of $0.32 per share, representing an annualized dividend yield of 4.3%, though its payout ratio is notably high at 345.95%.

Resolution Capital Ltd grew its stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 33.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,886,133 shares of the real estate investment trust's stock after acquiring an additional 1,477,044 shares during the period. Cousins Properties comprises 3.4% of Resolution Capital Ltd's investment portfolio, making the stock its 12th biggest position. Resolution Capital Ltd owned approximately 3.51% of Cousins Properties worth $173,641,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GRS Advisors LLC bought a new position in Cousins Properties in the 4th quarter worth approximately $63,759,000. Rush Island Management LP lifted its stake in Cousins Properties by 91.4% in the 4th quarter. Rush Island Management LP now owns 3,011,843 shares of the real estate investment trust's stock worth $92,283,000 after purchasing an additional 1,438,127 shares in the last quarter. Millennium Management LLC raised its position in shares of Cousins Properties by 400.9% during the 4th quarter. Millennium Management LLC now owns 1,233,050 shares of the real estate investment trust's stock valued at $37,781,000 after buying an additional 986,863 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cousins Properties by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 25,753,741 shares of the real estate investment trust's stock valued at $759,735,000 after buying an additional 951,637 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Cousins Properties by 106.6% during the 1st quarter. Invesco Ltd. now owns 1,289,407 shares of the real estate investment trust's stock valued at $38,038,000 after buying an additional 665,391 shares in the last quarter. 94.38% of the stock is owned by institutional investors.

Insider Transactions at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 4,612 shares of Cousins Properties stock in a transaction dated 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 transaction, the chief accounting officer directly owned 13,518 shares of the company's stock, valued at $396,077.40. This trade represents a 25.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial lowered 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 report on Tuesday, August 26th. Mizuho lifted their target price on shares of Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Wells Fargo & Company decreased their target price on shares of Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Wall Street Zen cut shares of Cousins Properties from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Evercore ISI lifted their target price on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.40.

Cousins Properties Trading Down 0.8%

Cousins Properties stock traded down $0.23 during trading hours on Tuesday, reaching $28.85. The stock had a trading volume of 142,269 shares, compared to its average volume of 1,499,898. The stock has a market cap of $4.85 billion, a PE ratio of 77.72, a PEG ratio of 2.67 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 current ratio of 2.45 and a quick ratio of 2.45. The company has a fifty day simple moving average of $28.29 and a 200-day simple moving average of $28.45.

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

Cousins Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, July 7th were paid a dividend of $0.32 per share. 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 4.4%. Cousins Properties's payout ratio is presently 345.95%.

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.