Bank of America Corp DE Has $15.84 Million Position in Cousins Properties Incorporated (NYSE:CUZ)

Bank of America Corp DE trimmed its stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 23.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 516,983 shares of the real estate investment trust's stock after selling 159,333 shares during the quarter. Bank of America Corp DE owned about 0.33% of Cousins Properties worth $15,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CUZ. Rhumbline Advisers grew its holdings in Cousins Properties by 4.9% during the fourth quarter. Rhumbline Advisers now owns 466,850 shares of the real estate investment trust's stock worth $14,304,000 after acquiring an additional 21,939 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Cousins Properties by 7.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,677,769 shares of the real estate investment trust's stock worth $82,047,000 after acquiring an additional 189,411 shares during the period. KBC Group NV grew its holdings in Cousins Properties by 23.2% during the fourth quarter. KBC Group NV now owns 6,027 shares of the real estate investment trust's stock worth $185,000 after acquiring an additional 1,135 shares during the period. Van ECK Associates Corp grew its holdings in Cousins Properties by 24.5% during the fourth quarter. Van ECK Associates Corp now owns 36,162 shares of the real estate investment trust's stock worth $1,108,000 after acquiring an additional 7,119 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Cousins Properties by 13.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 250,886 shares of the real estate investment trust's stock worth $7,609,000 after acquiring an additional 30,600 shares during the period. 94.38% of the stock is owned by institutional investors and hedge funds.

Cousins Properties Price Performance

Shares of CUZ traded up $0.28 during mid-day trading on Monday, hitting $27.00. The company's stock had a trading volume of 2,904,439 shares, compared to its average volume of 1,277,855. The firm has a 50-day moving average price of $27.71 and a 200 day moving average price of $29.41. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 89.99, a PEG ratio of 2.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.74 and a quick ratio of 0.74. Cousins Properties Incorporated has a fifty-two week low of $22.01 and a fifty-two week high of $32.55.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The business had revenue of $6.81 million for the quarter, compared to the consensus estimate of $238.49 million. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. The firm's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. On average, research analysts predict that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, April 3rd were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend was Thursday, April 3rd. Cousins Properties's dividend payout ratio (DPR) is presently 387.88%.

Analysts Set New Price Targets

CUZ has been the subject of a number of research analyst reports. Evercore ISI raised their price target on Cousins Properties from $30.00 to $31.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Truist Financial lowered their price objective on shares of Cousins Properties from $31.00 to $29.00 and set a "buy" rating on the stock in a research note on Thursday. Robert W. Baird dropped their target price on shares of Cousins Properties from $34.00 to $33.00 and set an "outperform" rating for the company in a report on Monday, February 24th. Wolfe Research upgraded shares of Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 target price for the company in a research report on Monday, April 7th. Finally, Wall Street Zen raised shares of Cousins Properties from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.20.

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.