113,896 Shares in Cousins Properties Incorporated (NYSE:CUZ) Acquired by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. has taken a significant position in Cousins Properties, acquiring 113,896 shares valued at approximately $3.36 million, representing 0.07% ownership of the real estate investment trust.
• Cousins Properties recently declared a quarterly dividend of $0.32 per share, translating to an annual yield of 4.8%, although the payout ratio is notably high at 345.95%.
• Wall Street analysts have mixed sentiments about Cousins Properties, with revised price targets generally around $31.00, and a consensus rating of "Hold."

Phocas Financial Corp. acquired a new stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 113,896 shares of the real estate investment trust's stock, valued at approximately $3,360,000. Phocas Financial Corp. owned 0.07% of Cousins Properties at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CUZ. Spire Wealth Management acquired a new stake in Cousins Properties during the 1st quarter valued at approximately $25,000. N.E.W. Advisory Services LLC purchased a new stake in Cousins Properties in the 1st quarter worth $36,000. GF Fund Management CO. LTD. purchased a new stake in Cousins Properties in the 4th quarter worth $85,000. FIL Ltd increased its holdings 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 worth $100,000 after acquiring an additional 643 shares in the last quarter. Finally, Signaturefd LLC increased 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 acquiring an additional 477 shares in the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Cousins Properties Trading Up 0.7%

CUZ traded up $0.20 on Wednesday, hitting $26.90. The company had a trading volume of 283,426 shares, compared to its average volume of 1,492,190. The firm has a market cap of $4.52 billion, a P/E ratio of 72.70, a PEG ratio of 2.47 and a beta of 1.33. Cousins Properties Incorporated has a 1 year low of $24.07 and a 1 year high of $32.55. The company's fifty day moving average price is $28.97 and its 200 day moving average price is $28.82. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.72.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $237.72 million for the quarter, compared to analyst estimates of $243.73 million. Cousins Properties had a net margin of 6.51% and a return on equity of 1.27%. Cousins Properties's revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. As a group, equities analysts expect that Cousins Properties Incorporated will post 2.76 earnings per share for the current year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, July 7th were paid a dividend of $0.32 per share. The ex-dividend date was Monday, July 7th. This represents a $1.28 dividend on an annualized basis and a yield of 4.8%. Cousins Properties's dividend payout ratio is 345.95%.

Wall Street Analyst Weigh In

CUZ has been the topic of several recent research reports. Evercore ISI lifted their target price on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Truist Financial cut shares of Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research note on Wednesday, July 2nd. Wells Fargo & Company lowered their target price on shares of 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 target on shares of Cousins Properties from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Wall Street Zen cut shares of Cousins Properties from a "hold" rating to a "sell" rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.50.

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.