Palisade Capital Management LP Decreases Stock Position in Cousins Properties Incorporated (NYSE:CUZ)

Palisade Capital Management LP decreased its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,019,898 shares of the real estate investment trust's stock after selling 9,420 shares during the quarter. Palisade Capital Management LP owned about 0.61% of Cousins Properties worth $30,087,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Arizona State Retirement System increased its position in shares of Cousins Properties by 0.8% during the 4th quarter. Arizona State Retirement System now owns 44,154 shares of the real estate investment trust's stock valued at $1,353,000 after purchasing an additional 366 shares during the last quarter. Quarry LP increased 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 purchasing an additional 375 shares during the last quarter. Norinchukin Bank The grew its position in Cousins Properties by 7.5% in the 4th quarter. Norinchukin Bank The now owns 7,393 shares of the real estate investment trust's stock valued at $227,000 after acquiring an additional 513 shares during the last quarter. Deutsche Bank AG grew its position in Cousins Properties by 0.5% in the 4th quarter. Deutsche Bank AG now owns 110,867 shares of the real estate investment trust's stock valued at $3,397,000 after acquiring an additional 521 shares during the last quarter. Finally, FIL Ltd grew its position in Cousins Properties by 24.6% in the 4th quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust's stock valued at $100,000 after acquiring an additional 643 shares during the last quarter. Institutional investors own 94.38% of the company's stock.

Cousins Properties Stock Up 1.9%

Shares of CUZ stock traded up $0.56 during mid-day trading on Friday, hitting $30.15. The stock had a trading volume of 1,389,308 shares, compared to its average volume of 1,342,146. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $5.06 billion, a P/E ratio of 91.36, a price-to-earnings-growth ratio of 2.78 and a beta of 1.33. Cousins Properties Incorporated has a 12-month low of $22.47 and a 12-month high of $32.55. The firm's 50-day moving average is $28.84 and its two-hundred day moving average is $29.13.

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

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, July 7th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Monday, July 7th. Cousins Properties's dividend payout ratio (DPR) is presently 387.88%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CUZ shares. Jefferies Financial Group started coverage on Cousins Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $35.00 price objective on the stock. Wells Fargo & Company cut their price objective on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Truist Financial downgraded Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a research report on Wednesday. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, 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 report on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Cousins Properties presently has an average rating of "Moderate Buy" and an average price target of $32.40.

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.