Rhumbline Advisers Has $14.32 Million Stock Position in Cousins Properties Incorporated (NYSE:CUZ)

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

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Resolution Capital Ltd acquired a new stake in Cousins Properties during the 4th quarter worth about $135,094,000. GRS Advisors LLC acquired a new stake in Cousins Properties during the 4th quarter worth about $63,759,000. Norges Bank acquired a new stake in Cousins Properties during the 4th quarter worth about $57,194,000. Rush Island Management LP boosted its position in Cousins Properties by 91.4% during the 4th quarter. Rush Island Management LP now owns 3,011,843 shares of the real estate investment trust's stock worth $92,283,000 after acquiring an additional 1,438,127 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Cousins Properties by 11.1% during the 4th quarter. Principal Financial Group Inc. now owns 13,491,300 shares of the real estate investment trust's stock worth $413,375,000 after acquiring an additional 1,350,352 shares during the period. Institutional investors and hedge funds own 94.38% of the company's stock.

Cousins Properties Stock Up 2.6%

Shares of CUZ stock opened at $29.43 on Monday. The stock's 50 day simple moving average is $27.47 and its 200 day simple moving average is $29.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.74 and a current ratio of 0.74. Cousins Properties Incorporated has a twelve month low of $22.16 and a twelve month high of $32.55. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 98.08, a PEG ratio of 2.98 and a beta of 1.32.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. The business 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 business earned $0.65 EPS. The firm's revenue was up 16.4% compared to the same quarter last year. As a group, research analysts predict that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, April 3rd were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Thursday, April 3rd. Cousins Properties's payout ratio is 387.88%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CUZ. Truist Financial decreased their price objective on Cousins Properties from $31.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Wells Fargo & Company cut their price target on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Wolfe Research raised Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research note on Monday, April 7th. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Evercore ISI raised their price target on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.20.

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.

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