Cousins Properties Incorporated $CUZ Shares Bought by Adelante Capital Management LLC

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 boosted its position in 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 and Exchange Commission (SEC). The fund owned 682,499 shares of the real estate investment trust's stock after buying an additional 245,872 shares during the period. Cousins Properties makes up about 1.4% of Adelante Capital Management LLC's holdings, making the stock its 25th biggest position. Adelante Capital Management LLC owned approximately 0.41% of Cousins Properties worth $20,134,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Resolution Capital Ltd purchased a new position in Cousins Properties in the fourth quarter worth $135,094,000. GRS Advisors LLC acquired a new stake in shares of Cousins Properties in the fourth quarter valued at about $63,759,000. Rush Island Management LP lifted its stake in shares of Cousins Properties by 91.4% in the fourth quarter. Rush Island Management LP now owns 3,011,843 shares of the real estate investment trust's stock valued at $92,283,000 after purchasing an additional 1,438,127 shares during the period. Millennium Management LLC boosted its holdings in Cousins Properties by 400.9% during the fourth quarter. Millennium Management LLC now owns 1,233,050 shares of the real estate investment trust's stock worth $37,781,000 after buying an additional 986,863 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Cousins Properties by 3.8% during the first quarter. Vanguard Group Inc. now owns 25,753,741 shares of the real estate investment trust's stock worth $759,735,000 after buying an additional 951,637 shares during the period. Hedge funds and other institutional investors own 94.38% of the company's stock.

Cousins Properties Trading Up 2.0%

CUZ stock traded up $0.57 on Wednesday, hitting $29.21. 1,997,856 shares of the company were exchanged, compared to its average volume of 1,411,176. 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 stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 2.60 and a beta of 1.39. Cousins Properties Incorporated has a twelve month low of $24.07 and a twelve month high of $32.55. The business's fifty day moving average is $28.26 and its two-hundred day moving average is $28.46.

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 for the quarter, meeting analysts' consensus estimates of $0.70. The firm had revenue of $237.72 million for the quarter, compared to analysts' expectations of $243.73 million. Cousins Properties had a return on equity of 1.27% and a net margin of 6.51%.The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. Cousins Properties has set its FY 2025 guidance at 2.790-2.850 EPS. As a group, research analysts forecast that Cousins Properties Incorporated will post 2.76 earnings per share for the current 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 given a $0.32 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.28 annualized dividend and a dividend yield of 4.4%. Cousins Properties's dividend payout ratio is presently 345.95%.

Insider Activity

In other news, CAO Jeffrey D. Symes sold 4,612 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $29.30, for a total value of $135,131.60. Following the completion of the sale, the chief accounting officer owned 13,518 shares in the company, valued at approximately $396,077.40. This trade represents a 25.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CUZ shares. Wells Fargo & Company dropped their price target on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Wall Street Zen downgraded shares of Cousins Properties from a "hold" rating to a "sell" rating in a report on Saturday. 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. Mizuho raised their price objective on shares of Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, Truist Financial reduced their target price on Cousins Properties from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, August 26th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.40.

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.