Rhumbline Advisers Boosts Stock Position in Cousins Properties Incorporated (NYSE:CUZ)

Rhumbline Advisers grew its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 485,524 shares of the real estate investment trust's stock after purchasing an additional 18,674 shares during the period. Rhumbline Advisers owned approximately 0.29% of Cousins Properties worth $14,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CUZ. Jones Financial Companies Lllp grew its holdings in shares of Cousins Properties by 1,609.3% during the 4th quarter. Jones Financial Companies Lllp now owns 923 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 869 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Cousins Properties in the 4th quarter worth approximately $85,000. FIL Ltd boosted its position in shares of Cousins Properties by 24.6% during the 4th quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust's stock worth $100,000 after purchasing an additional 643 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Cousins Properties by 473.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,301 shares of the real estate investment trust's stock valued at $127,000 after purchasing an additional 3,551 shares during the last quarter. Finally, Quarry LP increased its holdings in Cousins Properties by 9.4% in the 4th quarter. Quarry LP now owns 4,351 shares of the real estate investment trust's stock valued at $133,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company's stock.

Cousins Properties Stock Up 0.5%

Cousins Properties stock traded up $0.14 during midday trading on Thursday, reaching $30.39. The company's stock had a trading volume of 1,272,768 shares, compared to its average volume of 1,314,158. The company has a market cap of $5.10 billion, a P/E ratio of 101.30, a P/E/G ratio of 2.98 and a beta of 1.32. Cousins Properties Incorporated has a fifty-two week low of $22.16 and a fifty-two week high of $32.55. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.64. The business has a 50-day simple moving average of $27.62 and a 200-day simple moving average of $29.24.

Cousins Properties (NYSE:CUZ - Get Free Report) last posted its earnings results 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 net margin of 5.36% and a return on equity of 1.00%. The firm had revenue of $6.81 million for the quarter, compared to the consensus estimate of $238.49 million. During the same period last year, the firm posted $0.65 EPS. The company's revenue was up 16.4% on a year-over-year basis. On average, research analysts expect that Cousins Properties Incorporated will post 2.76 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.21%. Cousins Properties's dividend payout ratio (DPR) is presently 387.88%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CUZ shares. Wolfe Research upgraded Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a report on Monday, April 7th. Wells Fargo & Company dropped their target price on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Evercore ISI increased 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. Truist Financial lowered their price objective on shares of Cousins Properties from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Cousins Properties from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Cousins Properties presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.20.

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.