Cousins Properties Incorporated (NYSE:CUZ) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 61.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 183,753 shares of the real estate investment trust's stock after selling 293,391 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.11% of Cousins Properties worth $5,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Spire Wealth Management acquired a new stake in Cousins Properties during the first quarter worth about $25,000. Jones Financial Companies Lllp increased its holdings in shares of Cousins Properties by 1,609.3% during the 4th quarter. Jones Financial Companies Lllp now owns 923 shares of the real estate investment trust's stock worth $28,000 after buying an additional 869 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Cousins Properties during the 4th quarter worth approximately $85,000. FIL Ltd increased its holdings in shares of Cousins Properties by 24.6% during the 4th quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust's stock worth $100,000 after buying an additional 643 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in Cousins Properties by 473.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,301 shares of the real estate investment trust's stock worth $127,000 after acquiring an additional 3,551 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Cousins Properties Stock Performance

CUZ traded down $0.64 during trading on Monday, hitting $29.08. 1,837,276 shares of the stock were exchanged, compared to its average volume of 1,344,130. The firm has a market capitalization of $4.88 billion, a P/E ratio of 88.12, a PEG ratio of 2.78 and a beta of 1.33. Cousins Properties Incorporated has a 1-year low of $22.47 and a 1-year high of $32.55. The stock has a fifty day moving average price of $28.86 and a two-hundred day moving average price of $29.12. 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 (NYSE:CUZ - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. Cousins Properties had a net margin of 5.97% and a return on equity of 1.15%. The company had revenue of $6.81 million for the quarter, compared to analyst estimates of $238.49 million. During the same period in the previous year, the business posted $0.65 earnings per share. Cousins Properties's quarterly revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts predict that Cousins Properties Incorporated will post 2.76 earnings per share for the current year.

Cousins Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, July 7th will be paid a dividend of $0.32 per share. The ex-dividend date is Monday, July 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.40%. Cousins Properties's dividend payout ratio (DPR) is 387.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CUZ shares. Jefferies Financial Group initiated coverage on Cousins Properties in a research note on Monday, March 17th. They set a "buy" rating and a $35.00 target price for the company. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Truist Financial cut shares of Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research report on Wednesday, July 2nd. Evercore ISI lifted their price target on shares of Cousins Properties from $30.00 to $31.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, Wolfe Research raised Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a research report on Monday, April 7th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.