Massachusetts Financial Services Co. MA Sells 84,741 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Massachusetts Financial Services Co. MA cut its holdings in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,790,749 shares of the real estate investment trust's stock after selling 84,741 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.66% of Cousins Properties worth $82,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in Cousins Properties in the first quarter worth $25,000. Jones Financial Companies Lllp raised its holdings in Cousins Properties by 1,609.3% in the fourth quarter. Jones Financial Companies Lllp now owns 923 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 869 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Cousins Properties in the fourth quarter worth $85,000. FIL Ltd raised its holdings in Cousins Properties by 24.6% in the fourth quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust's stock worth $100,000 after purchasing an additional 643 shares during the period. Finally, Signaturefd LLC raised its holdings in Cousins Properties by 16.5% in the first 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 period. 94.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CUZ shares. Wolfe Research upgraded shares of Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a report on Monday, April 7th. Wall Street Zen upgraded shares of Cousins Properties from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Wells Fargo & Company dropped their price objective on shares of Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Truist Financial lowered shares of Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a report on Wednesday, July 2nd. Finally, Mizuho raised their price objective on shares of Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Monday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Cousins Properties Stock Down 1.8%

CUZ stock traded down $0.53 during midday trading on Thursday, hitting $28.19. The company's stock had a trading volume of 1,447,888 shares, compared to its average volume of 1,359,063. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. Cousins Properties Incorporated has a twelve month low of $24.02 and a twelve month high of $32.55. The company's fifty day moving average price is $29.04 and its 200 day moving average price is $29.05. The stock has a market capitalization of $4.73 billion, a P/E ratio of 85.44, a PEG ratio of 2.68 and a beta of 1.33.

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

Cousins Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, July 7th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Monday, July 7th. Cousins Properties's dividend payout ratio (DPR) is presently 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.