SCS Capital Management LLC Takes $7.42 Million Position in Cousins Properties Incorporated $CUZ

Key Points

• SCS Capital Management acquired a new position of approximately $7.42 million in Cousins Properties by purchasing 251,540 shares, representing about 0.15% of the company.
• Institutional investors own 94.38% of Cousins Properties, reflecting significant interest among hedge funds and other large investment firms.
• Cousins Properties recently announced a quarterly dividend of $0.32, resulting in an annualized dividend yield of 4.4% and a payout ratio of 345.95%.

SCS Capital Management LLC acquired a new position in Cousins Properties Incorporated (NYSE:CUZ - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 251,540 shares of the real estate investment trust's stock, valued at approximately $7,420,000. SCS Capital Management LLC owned 0.15% of Cousins Properties at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CUZ. Resolution Capital Ltd bought a new stake in shares of Cousins Properties in the 4th quarter worth approximately $135,094,000. Rush Island Management LP raised its holdings in shares of Cousins Properties by 91.4% in 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 buying an additional 1,438,127 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Cousins Properties by 400.9% in the 4th quarter. Millennium Management LLC now owns 1,233,050 shares of the real estate investment trust's stock worth $37,781,000 after buying an additional 986,863 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cousins Properties by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 25,753,741 shares of the real estate investment trust's stock worth $759,735,000 after buying an additional 951,637 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Cousins Properties by 106.6% in the 1st quarter. Invesco Ltd. now owns 1,289,407 shares of the real estate investment trust's stock worth $38,038,000 after buying an additional 665,391 shares in the last quarter. Institutional investors own 94.38% of the company's stock.

Cousins Properties Trading Down 0.6%

Shares of NYSE CUZ traded down $0.18 during midday trading on Friday, hitting $29.43. The stock had a trading volume of 1,047,241 shares, compared to its average volume of 1,458,514. The company's 50-day simple moving average is $28.24 and its 200 day simple moving average is $28.44. The firm has a market cap of $4.94 billion, a P/E ratio of 79.53, a price-to-earnings-growth ratio of 2.68 and a beta of 1.39. Cousins Properties Incorporated has a fifty-two week low of $24.07 and a fifty-two week high of $32.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.45 and a quick ratio of 2.45.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. Cousins Properties had a return on equity of 1.27% and a net margin of 6.51%.The company had revenue of $237.72 million during the quarter, compared to analysts' expectations of $243.73 million. During the same period last year, the firm earned $0.68 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. Cousins Properties has set its FY 2025 guidance at 2.790-2.850 EPS. Research analysts anticipate that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, July 7th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.3%. Cousins Properties's payout ratio is 345.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CUZ. Evercore ISI increased their target price on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Truist Financial dropped their target price on Cousins Properties from $31.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, August 26th. Wall Street Zen cut Cousins Properties from a "hold" rating to a "sell" rating in a report on Saturday, September 6th. 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 report on Monday, May 19th. Finally, Mizuho increased their target price on Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.40.

Insider Activity at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 4,612 shares of Cousins Properties stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $29.30, for a total transaction of $135,131.60. Following the transaction, the chief accounting officer directly owned 13,518 shares in the company, valued at approximately $396,077.40. The trade was a 25.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

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.