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

Point72 Asset Management L.P. raised its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 1,380.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 0.28% of Cousins Properties worth $13,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake 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 valued at $28,000 after buying an additional 869 shares during the last quarter. UMB Bank n.a. grew its stake in Cousins Properties by 67.4% during the 4th quarter. UMB Bank n.a. now owns 981 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 395 shares in the last quarter. FIL Ltd grew its stake 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 valued at $100,000 after purchasing an additional 643 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Cousins Properties by 473.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,301 shares of the real estate investment trust's stock worth $127,000 after purchasing an additional 3,551 shares in the last quarter. Finally, Quarry LP boosted its holdings 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 worth $133,000 after buying an additional 375 shares during the period. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Cousins Properties Stock Down 1.6%

Shares of NYSE:CUZ traded down $0.44 during midday trading on Tuesday, hitting $27.59. 1,617,281 shares of the company's stock were exchanged, compared to its average volume of 1,258,916. The company has a market cap of $4.63 billion, a PE ratio of 91.97, a price-to-earnings-growth 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. The stock has a 50 day moving average price of $27.91 and a 200-day moving average price of $29.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.74 and a quick ratio of 0.74.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its 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 company had revenue of $6.81 million during the quarter, compared to analyst estimates of $238.49 million. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. Cousins Properties's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. On average, sell-side analysts anticipate that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, April 3rd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.64%. The ex-dividend date was Thursday, April 3rd. Cousins Properties's dividend payout ratio (DPR) is presently 387.88%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore ISI upped their price objective on Cousins Properties from $30.00 to $31.00 and gave the company an "in-line" rating in a research note on Monday. Jefferies Financial Group assumed coverage on Cousins Properties in a report on Monday, March 17th. They set a "buy" rating and a $35.00 target price on the stock. Wolfe Research upgraded shares of Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 target price for the company in a report on Monday, April 7th. StockNews.com raised Cousins Properties from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Barclays cut their price objective on shares of Cousins Properties from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.60.

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.