Principal Financial Group Inc. Has $392.95 Million Stock Position in Cousins Properties Incorporated (NYSE:CUZ)

Principal Financial Group Inc. lowered its position in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,320,245 shares of the real estate investment trust's stock after selling 171,055 shares during the quarter. Principal Financial Group Inc. owned 7.93% of Cousins Properties worth $392,947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CUZ. Arizona State Retirement System lifted its stake in shares of Cousins Properties by 0.8% in the fourth quarter. Arizona State Retirement System now owns 44,154 shares of the real estate investment trust's stock worth $1,353,000 after acquiring an additional 366 shares in the last quarter. Quarry LP raised 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 worth $133,000 after purchasing an additional 375 shares during the period. Norinchukin Bank The raised its position in shares of Cousins Properties by 7.5% during the 4th quarter. Norinchukin Bank The now owns 7,393 shares of the real estate investment trust's stock worth $227,000 after buying an additional 513 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of 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 worth $3,397,000 after acquiring an additional 521 shares during the period. Finally, FIL Ltd lifted its stake in shares of 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 during the period. 94.38% of the stock is owned by hedge funds and other institutional investors.

Cousins Properties Stock Up 1.9%

NYSE:CUZ traded up $0.56 during trading hours on Friday, reaching $30.15. The company's stock had a trading volume of 1,389,308 shares, compared to its average volume of 1,342,856. Cousins Properties Incorporated has a one year low of $22.33 and a one year high of $32.55. The business's 50-day moving average is $28.79 and its 200-day moving average is $29.14. 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 company has a market cap of $5.06 billion, a price-to-earnings ratio of 91.36, a price-to-earnings-growth ratio of 2.76 and a beta of 1.33.

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 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. Cousins Properties had a return on equity of 1.15% and a net margin of 5.97%. The business had revenue of $6.81 million for the quarter, compared to analyst estimates of $238.49 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts predict that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders 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 dividend yield of 4.25%. The ex-dividend date is Monday, July 7th. Cousins Properties's payout ratio is 387.88%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CUZ shares. Truist Financial cut Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a report on Wednesday. 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 note on Monday, April 7th. Jefferies Financial Group started coverage on Cousins Properties in a research note on Monday, March 17th. They set a "buy" rating and a $35.00 target price for the company. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Evercore ISI boosted their price target on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.