Cousins Properties Incorporated (NYSE:CUZ) Shares Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Cousins Properties Incorporated by 77.7%, owning over 98,000 shares valued at approximately $2.9 million, according to a recent SEC filing.
• Cousins Properties reported $0.74 earnings per share for the last quarter, exceeding analyst expectations, with a revenue increase of 16.4% year-over-year.
• The company declared a quarterly dividend of $0.32 per share, resulting in an annualized dividend yield of 4.61%, despite a high dividend payout ratio of 387.88%.

Allianz Asset Management GmbH boosted its holdings in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 77.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,214 shares of the real estate investment trust's stock after acquiring an additional 42,932 shares during the quarter. Allianz Asset Management GmbH owned 0.06% of Cousins Properties worth $2,897,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. APG Asset Management US Inc. lifted its holdings in Cousins Properties by 0.3% in the 4th quarter. APG Asset Management US Inc. now owns 7,853,306 shares of the real estate investment trust's stock worth $240,625,000 after buying an additional 19,657 shares during the period. Centersquare Investment Management LLC lifted its holdings in Cousins Properties by 11.7% in the 4th quarter. Centersquare Investment Management LLC now owns 5,600,905 shares of the real estate investment trust's stock worth $171,612,000 after buying an additional 585,659 shares during the period. Resolution Capital Ltd purchased a new stake in Cousins Properties in the 4th quarter worth approximately $135,094,000. Geode Capital Management LLC lifted its holdings in Cousins Properties by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 3,072,221 shares of the real estate investment trust's stock worth $94,160,000 after buying an additional 208,044 shares during the period. Finally, Rush Island Management LP lifted its holdings 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 buying an additional 1,438,127 shares during the period. 94.38% of the stock is currently owned by institutional investors.

Cousins Properties Stock Performance

Shares of CUZ stock traded down $0.54 on Friday, hitting $26.56. The company had a trading volume of 2,524,956 shares, compared to its average volume of 1,488,819. The firm has a market cap of $4.46 billion, a P/E ratio of 80.48, a price-to-earnings-growth ratio of 2.54 and a beta of 1.33. The company has a 50-day moving average price of $29.01 and a 200-day moving average price of $28.90. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.62. Cousins Properties Incorporated has a twelve month low of $24.07 and a twelve month high of $32.55.

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 for the quarter, meeting the consensus estimate of $0.70. Cousins Properties had a return on equity of 1.15% and a net margin of 5.97%. The firm had revenue of $237.72 million during the quarter, compared to analyst estimates of $243.73 million. During the same quarter in the previous year, the business earned $0.68 EPS. Cousins Properties's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities research analysts predict that Cousins Properties Incorporated will post 2.76 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently disclosed 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. This represents a $1.28 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, July 7th. Cousins Properties's payout ratio is 387.88%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CUZ shares. Evercore ISI increased their target price on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Truist Financial lowered Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Wednesday, July 2nd. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Mizuho raised their price objective on Cousins Properties from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Wolfe Research upgraded Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a report on Monday, April 7th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $32.50.

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.