Public Employees Retirement System of Ohio Decreases Position in Cousins Properties Incorporated $CUZ

Key Points

• Public Employees Retirement System of Ohio cut its Cousins Properties stake by 13.7% in the first quarter, selling 38,844 shares and retaining 243,861 shares worth approximately $5.5 million. Institutional investors collectively own 94.38% of the REIT.
• Cousins Properties shares opened at $32.28, near their 52-week high of $32.95, after rising 1.8%. The company reported quarterly revenue of $263.11 million, up 7.4% year over year, but missed earnings expectations with a loss of $0.15 per share.
• The REIT paid a quarterly dividend of $0.32, equivalent to a $1.28 annualized payout and a 4.0% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $30.91.

Public Employees Retirement System of Ohio decreased its holdings in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,861 shares of the real estate investment trust's stock after selling 38,844 shares during the period. Public Employees Retirement System of Ohio owned about 0.15% of Cousins Properties worth $5,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in Cousins Properties by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 12,890,208 shares of the real estate investment trust's stock valued at $332,310,000 after purchasing an additional 419,911 shares during the period. Resolution Capital Ltd increased its holdings in Cousins Properties by 0.6% during the 2nd quarter. Resolution Capital Ltd now owns 5,919,230 shares of the real estate investment trust's stock worth $177,754,000 after purchasing an additional 33,097 shares during the period. Centersquare Investment Management LLC increased its holdings in Cousins Properties by 3.2% during the 4th quarter. Centersquare Investment Management LLC now owns 5,847,176 shares of the real estate investment trust's stock worth $150,740,000 after purchasing an additional 179,036 shares during the period. Alyeska Investment Group L.P. raised its position in Cousins Properties by 308.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 5,175,415 shares of the real estate investment trust's stock valued at $133,422,000 after purchasing an additional 3,909,740 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Cousins Properties by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,448,764 shares of the real estate investment trust's stock valued at $88,924,000 after purchasing an additional 47,633 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company's stock.

Cousins Properties Stock Up 1.8%

Shares of NYSE CUZ opened at $32.28 on Thursday. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of -1,075.61, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50-day moving average of $29.40 and a two-hundred day moving average of $26.10. Cousins Properties Incorporated has a 1 year low of $21.03 and a 1 year high of $32.95.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.21). The business had revenue of $263.11 million during the quarter, compared to analysts' expectations of $256.77 million. Cousins Properties had a negative net margin of 0.52% and a negative return on equity of 0.11%. The company's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. On average, analysts forecast that Cousins Properties Incorporated will post 2.95 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Monday, July 6th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, July 6th. Cousins Properties's dividend payout ratio is currently -4,266.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen raised Cousins Properties from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 12th. Weiss Ratings upgraded shares of Cousins Properties from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, June 25th. Truist Financial raised their target price on shares of Cousins Properties from $24.00 to $30.00 and gave the company a "hold" rating in a report on Friday, June 26th. Wells Fargo & Company lifted their price target on shares of Cousins Properties from $28.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. Finally, Mizuho boosted their price target on shares of Cousins Properties from $27.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.91.

Cousins Properties 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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