Phocas Financial Corp. Invests $3.36 Million in Cousins Properties Incorporated (NYSE:CUZ)

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. purchased a new stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 113,896 shares of the real estate investment trust's stock, valued at approximately $3,360,000. Phocas Financial Corp. owned about 0.07% of Cousins Properties at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CUZ. Spire Wealth Management bought a new stake in shares of Cousins Properties during the first quarter valued at approximately $25,000. N.E.W. Advisory Services LLC purchased a new position in Cousins Properties during the first quarter worth about $36,000. GF Fund Management CO. LTD. purchased a new position in shares of Cousins Properties in the 4th quarter worth approximately $85,000. FIL Ltd increased its position in shares of Cousins Properties by 24.6% during the 4th quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust's stock valued at $100,000 after purchasing an additional 643 shares during the last quarter. Finally, Signaturefd LLC raised its position 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 acquiring an additional 477 shares during the period. 94.38% of the stock is owned by institutional investors.

Cousins Properties Stock Performance

Shares of Cousins Properties stock traded up $0.11 during midday trading on Thursday, hitting $27.07. The company had a trading volume of 711,613 shares, compared to its average volume of 1,495,531. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $28.96 and a 200 day simple moving average of $28.81. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of 72.97, a PEG ratio of 1.75 and a beta of 1.33. Cousins Properties Incorporated has a 12-month low of $24.07 and a 12-month high of $32.55.

Cousins Properties (NYSE:CUZ - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $243.73 million. Cousins Properties had a net margin of 6.51% and a return on equity of 1.27%. The business's revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. As a group, analysts predict that Cousins Properties Incorporated will post 2.76 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, July 7th were given 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 dividend yield of 4.7%. Cousins Properties's dividend payout ratio (DPR) is currently 345.95%.

Analyst Ratings Changes

CUZ has been the subject of a number of research reports. Truist Financial lowered shares of Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a research report on Wednesday, July 2nd. Wells Fargo & Company lowered their price objective on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Wall Street Zen lowered shares of Cousins Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Evercore ISI upped their target price on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Mizuho upped their target price on shares of Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cousins Properties currently has a consensus rating of "Hold" and a consensus target price of $32.50.

Cousins Properties 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.