Jennison Associates LLC Acquires 132,653 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Jennison Associates LLC grew its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,334,159 shares of the real estate investment trust's stock after buying an additional 132,653 shares during the quarter. Jennison Associates LLC owned 1.39% of Cousins Properties worth $68,858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP raised its position in shares of Cousins Properties by 9.4% during the 4th quarter. Quarry LP now owns 4,351 shares of the real estate investment trust's stock valued at $133,000 after acquiring an additional 375 shares in the last quarter. GF Fund Management CO. LTD. grew its stake in Cousins Properties by 14.8% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,175 shares of the real estate investment trust's stock worth $94,000 after buying an additional 410 shares during the last quarter. Signaturefd LLC grew its stake in Cousins Properties by 16.5% during the 1st quarter. Signaturefd LLC now owns 3,374 shares of the real estate investment trust's stock worth $100,000 after buying an additional 477 shares during the last quarter. Norinchukin Bank The grew its stake in Cousins Properties by 7.5% during the 4th quarter. Norinchukin Bank The now owns 7,393 shares of the real estate investment trust's stock worth $227,000 after buying an additional 513 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Cousins Properties by 0.5% during the 4th quarter. Deutsche Bank AG now owns 110,867 shares of the real estate investment trust's stock worth $3,397,000 after buying an additional 521 shares during the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CUZ shares. Mizuho increased their price target on Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Truist Financial cut Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research note on Wednesday, July 2nd. Wells Fargo & Company decreased their target price on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Evercore ISI raised their target price on Cousins Properties from $30.00 to $31.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Cousins Properties Stock Performance

Shares of NYSE:CUZ traded up $0.05 during trading on Friday, hitting $28.22. 1,308,700 shares of the stock were exchanged, compared to its average volume of 1,359,855. Cousins Properties Incorporated has a 1-year low of $24.02 and a 1-year high of $32.55. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 85.52, a price-to-earnings-growth ratio of 2.63 and a beta of 1.33. The company's fifty day simple moving average is $29.04 and its 200-day simple moving average is $29.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.89.

Cousins Properties (NYSE:CUZ - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. The business had revenue of $6.81 million for the quarter, compared to analyst estimates of $238.49 million. Cousins Properties had a return on equity of 1.15% and a net margin of 5.97%. Cousins Properties's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. Sell-side analysts expect that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, July 7th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date was Monday, July 7th. Cousins Properties's dividend payout ratio is currently 387.88%.

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.