Jennison Associates LLC Has $61.41 Million Stake in Cousins Properties Incorporated $CUZ

Key Points

• Jennison Associates LLC increased its stake in Cousins Properties by 2.1% in the first quarter, bringing its holdings to 2,720,874 shares worth about $61.41 million.
• Cousins Properties reported mixed quarterly results, with earnings of -$0.15 per share missing estimates while revenue of $263.11 million came in above expectations and rose 7.4% year over year.
• The company recently paid a quarterly dividend of $0.32 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $29.82.

Jennison Associates LLC grew its stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 2.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,720,874 shares of the real estate investment trust's stock after purchasing an additional 54,878 shares during the period. Jennison Associates LLC owned about 1.65% of Cousins Properties worth $61,410,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new position in shares of Cousins Properties in the second quarter valued at approximately $902,000. EverSource Wealth Advisors LLC grew its holdings in Cousins Properties by 55.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,100 shares of the real estate investment trust's stock worth $63,000 after buying an additional 753 shares in the last quarter. Marshall Wace LLP bought a new stake in Cousins Properties during the second quarter worth $3,723,000. Federated Hermes Inc. raised its position in Cousins Properties by 40.8% in the 2nd quarter. Federated Hermes Inc. now owns 110,926 shares of the real estate investment trust's stock valued at $3,331,000 after buying an additional 32,162 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Cousins Properties by 8.6% in the 2nd quarter. California Public Employees Retirement System now owns 286,452 shares of the real estate investment trust's stock valued at $8,602,000 after buying an additional 22,741 shares during the last quarter. 94.38% of the stock is owned by hedge funds and other institutional investors.

Cousins Properties Trading Up 0.0%

Shares of Cousins Properties stock opened at $31.77 on Monday. The firm has a market cap of $5.23 billion, a PE ratio of -1,058.48, a P/E/G ratio of 2.33 and a beta of 1.19. Cousins Properties Incorporated has a 1 year low of $21.03 and a 1 year high of $32.35. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a fifty day moving average price of $28.51 and a 200-day moving average price of $25.78.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.21). The company had revenue of $263.11 million during the quarter, compared to analysts' expectations of $256.77 million. Cousins Properties had a negative return on equity of 0.11% and a negative net margin of 0.52%.Cousins Properties's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. Cousins Properties has set its FY 2026 guidance at 2.900-2.980 EPS. Equities research analysts anticipate that Cousins Properties Incorporated will post 2.95 EPS for the current year.

Cousins Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Monday, July 6th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, July 6th. Cousins Properties's dividend payout ratio is currently -4,266.67%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Evercore reaffirmed an "outperform" rating and set a $34.00 price objective on shares of Cousins Properties in a report on Monday, July 6th. Wells Fargo & Company increased their target price on shares of Cousins Properties from $28.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Weiss Ratings raised shares of Cousins Properties from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 25th. Truist Financial raised their price target on shares of Cousins Properties from $24.00 to $30.00 and gave the company a "hold" rating in a research report on Friday, June 26th. Finally, Wall Street Zen upgraded shares of Cousins Properties from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.82.

Cousins Properties Company Profile

Cousins Properties Incorporated NYSE: CUZ is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.

Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.

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