Point72 Asset Management L.P. Buys 410,100 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Point72 Asset Management L.P. lifted its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 1,380.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 439,800 shares of the real estate investment trust's stock after purchasing an additional 410,100 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.28% of Cousins Properties worth $13,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CUZ. GRS Advisors LLC acquired a new position in Cousins Properties during the fourth quarter worth $63,759,000. Norges Bank acquired a new position in shares of Cousins Properties during the 4th quarter valued at about $57,194,000. Principal Financial Group Inc. raised its stake in shares of Cousins Properties by 11.1% in the 4th quarter. Principal Financial Group Inc. now owns 13,491,300 shares of the real estate investment trust's stock valued at $413,375,000 after acquiring an additional 1,350,352 shares in the last quarter. Millennium Management LLC lifted its holdings in Cousins Properties by 400.9% in the 4th quarter. Millennium Management LLC now owns 1,233,050 shares of the real estate investment trust's stock worth $37,781,000 after purchasing an additional 986,863 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Cousins Properties by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 24,802,104 shares of the real estate investment trust's stock worth $759,936,000 after purchasing an additional 985,934 shares during the period. Institutional investors own 94.38% of the company's stock.

Cousins Properties Stock Performance

Shares of CUZ traded down $0.00 on Friday, reaching $26.72. 762,262 shares of the stock traded hands, compared to its average volume of 1,383,992. The stock's 50-day moving average price is $27.82 and its 200-day moving average price is $29.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 89.06, a P/E/G ratio of 2.98 and a beta of 1.34. Cousins Properties Incorporated has a 12 month low of $22.01 and a 12 month high of $32.55.

Cousins Properties (NYSE:CUZ - Get Free Report) last announced 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. The firm had revenue of $6.81 million for the quarter, compared to analyst estimates of $238.49 million. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. Equities analysts forecast that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Thursday, April 3rd. Cousins Properties's dividend payout ratio is 387.88%.

Analyst Ratings Changes

A number of research firms have recently commented on CUZ. Robert W. Baird dropped their price target on shares of Cousins Properties from $34.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Truist Financial dropped their target price on shares of Cousins Properties from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday. Wolfe Research upgraded shares of Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a report on Monday, April 7th. Barclays lowered their price target on Cousins Properties from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Finally, Wall Street Zen upgraded Cousins Properties from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.20.

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.