Jennison Associates LLC Has $68.86 Million Stock Holdings in Cousins Properties Incorporated (NYSE:CUZ)

Jennison Associates LLC lifted its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 6.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,334,159 shares of the real estate investment trust's stock after purchasing 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 filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CUZ. Bailard Inc. lifted its holdings in Cousins Properties by 93.1% in the 1st quarter. Bailard Inc. now owns 15,972 shares of the real estate investment trust's stock worth $471,000 after purchasing an additional 7,700 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Cousins Properties by 119.7% in the 1st quarter. Victory Capital Management Inc. now owns 171,397 shares of the real estate investment trust's stock worth $5,056,000 after purchasing an additional 93,386 shares during the last quarter. Signaturefd LLC lifted its holdings in Cousins Properties by 16.5% in the 1st quarter. Signaturefd LLC now owns 3,374 shares of the real estate investment trust's stock worth $100,000 after purchasing an additional 477 shares during the last quarter. MQS Management LLC acquired a new stake in Cousins Properties in the 1st quarter worth approximately $363,000. Finally, Louisiana State Employees Retirement System lifted its holdings in Cousins Properties by 1.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 47,000 shares of the real estate investment trust's stock worth $1,386,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CUZ. Wall Street Zen upgraded Cousins Properties from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Wells Fargo & Company decreased their price target on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Mizuho boosted their price objective on Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Wolfe Research raised Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research note on Monday, April 7th. Finally, Truist Financial lowered Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a research note on Wednesday, July 2nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.50.

Cousins Properties Stock Up 1.3%

Shares of CUZ stock traded up $0.36 on Tuesday, hitting $28.57. 1,152,926 shares of the stock were exchanged, compared to its average volume of 1,360,787. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $4.80 billion, a P/E ratio of 86.56, a price-to-earnings-growth ratio of 2.63 and a beta of 1.33. The business has a 50-day moving average of $29.03 and a 200 day moving average of $28.99. Cousins Properties Incorporated has a fifty-two week low of $24.07 and a fifty-two week high of $32.55.

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

Cousins Properties Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.48%. Cousins Properties's payout ratio is 387.88%.

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.