Principal Financial Group Inc. Sells 208,218 Shares of Cousins Properties Incorporated $CUZ

Key Points

• Principal Financial Group reduced its stake in Cousins Properties by 1.6% in the first quarter, selling 208,218 shares but still holding 12.68 million shares valued at about $286.2 million.
• Cousins Properties reported a quarterly EPS loss of $0.15, missing analyst expectations, though revenue of $263.1 million came in above estimates and rose 7.4% year over year.
• The REIT declared a quarterly dividend of $0.32 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $29.82.

Principal Financial Group Inc. trimmed its position in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,681,990 shares of the real estate investment trust's stock after selling 208,218 shares during the period. Principal Financial Group Inc. owned approximately 7.71% of Cousins Properties worth $286,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its stake in Cousins Properties by 171.8% during the first quarter. Chicago Partners Investment Group LLC now owns 22,311 shares of the real estate investment trust's stock valued at $551,000 after purchasing an additional 14,102 shares in the last quarter. CORDA Investment Management LLC. grew its stake in shares of Cousins Properties by 2.7% in the 1st quarter. CORDA Investment Management LLC. now owns 1,029,285 shares of the real estate investment trust's stock worth $23,231,000 after buying an additional 26,709 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Cousins Properties by 21.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 117,959 shares of the real estate investment trust's stock worth $2,662,000 after buying an additional 21,187 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Cousins Properties by 3,626.2% in the 1st quarter. Fifth Third Bancorp now owns 69,754 shares of the real estate investment trust's stock worth $1,574,000 after buying an additional 67,882 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Cousins Properties by 36.4% in the 1st quarter. Hsbc Holdings PLC now owns 1,085,544 shares of the real estate investment trust's stock worth $24,508,000 after buying an additional 289,701 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.

Cousins Properties Price Performance

Cousins Properties stock opened at $31.09 on Wednesday. Cousins Properties Incorporated has a 12-month low of $21.03 and a 12-month high of $31.23. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $28.21 and a 200-day moving average price of $25.65. The firm has a market capitalization of $5.12 billion, a PE ratio of -1,035.89, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.21). Cousins Properties had a negative net margin of 0.52% and a negative return on equity of 0.11%. The firm had revenue of $263.11 million for the quarter, compared to the consensus estimate of $256.77 million. During the same quarter in the previous year, the company posted $0.74 earnings per share. The business's revenue for the quarter was up 7.4% on a year-over-year basis. Cousins Properties has set its FY 2026 guidance at 2.900-2.980 EPS. As a group, equities research analysts forecast that Cousins Properties Incorporated will post 2.95 EPS for the current year.

Cousins Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Stockholders of record on Monday, July 6th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.1%. Cousins Properties's dividend payout ratio is currently -4,266.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Cousins Properties from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 25th. Evercore reiterated an "outperform" rating and issued a $34.00 price target on shares of Cousins Properties in a research report on Monday, July 6th. Wall Street Zen raised Cousins Properties from a "strong sell" rating to a "sell" rating in a research note on Sunday. Truist Financial upped their price objective on Cousins Properties from $24.00 to $30.00 and gave the company a "hold" rating in a research report on Friday, June 26th. Finally, Wells Fargo & Company raised their price objective on Cousins Properties from $28.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cousins Properties currently has an average rating of "Moderate Buy" and a consensus price target of $29.82.

Cousins Properties Company Profile

Cousins Properties Incorporated NYSE: CUZ is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.

Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.

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