Adelante Capital Management LLC Boosts Position in Cousins Properties Incorporated $CUZ

Key Points

• Adelante Capital Management increased its ownership of Cousins Properties by 56.3%, acquiring a total of 682,499 shares, which represent 1.4% of its portfolio.
• Multiple hedge funds have recently adjusted their positions in Cousins Properties, contributing to a significant 94.38% of the stock being owned by institutional investors.
• Cousins Properties announced a quarterly dividend of $0.32, yielding an annualized rate of 4.3%, despite a high dividend payout ratio of 345.95%.

Adelante Capital Management LLC grew its stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 56.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 682,499 shares of the real estate investment trust's stock after acquiring an additional 245,872 shares during the quarter. Cousins Properties comprises about 1.4% of Adelante Capital Management LLC's investment portfolio, making the stock its 25th biggest holding. Adelante Capital Management LLC owned 0.41% of Cousins Properties worth $20,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Resolution Capital Ltd purchased a new position in shares of Cousins Properties during the 4th quarter worth $135,094,000. GRS Advisors LLC bought a new stake in Cousins Properties during the 4th quarter worth approximately $63,759,000. Rush Island Management LP raised its stake in Cousins Properties by 91.4% during 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 acquiring an additional 1,438,127 shares during the period. Millennium Management LLC raised its stake in 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 worth $37,781,000 after acquiring an additional 986,863 shares during the period. Finally, Vanguard Group Inc. raised its stake in 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 worth $759,735,000 after acquiring an additional 951,637 shares during the period. Hedge funds and other institutional investors own 94.38% of the company's stock.

Insider Transactions at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 4,612 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company's stock.

Cousins Properties Stock Down 0.3%

Shares of NYSE:CUZ traded down $0.09 on Friday, reaching $29.52. The company had a trading volume of 399,981 shares, compared to its average volume of 1,504,556. Cousins Properties Incorporated has a 52-week low of $24.07 and a 52-week high of $32.55. The firm's 50 day simple moving average is $28.25 and its 200-day simple moving average is $28.45. The firm has a market capitalization of $4.96 billion, a PE ratio of 79.86, a PEG ratio of 2.65 and a beta of 1.39. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.72.

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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $243.73 million. During the same quarter in the prior year, the business posted $0.68 EPS. Cousins Properties'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. As a group, analysts expect that Cousins Properties Incorporated will post 2.76 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Evercore ISI raised 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 note on Monday, May 19th. Wells Fargo & Company reduced their price target 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. Mizuho lifted their price target on shares of Cousins Properties from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Truist Financial reduced their price target on shares of Cousins Properties from $31.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, August 26th. Finally, Wall Street Zen downgraded shares of Cousins Properties from a "hold" rating to a "sell" rating in a report on Saturday, September 6th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.40.

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.