TCW Group Inc. Grows Position in Cousins Properties Incorporated (NYSE:CUZ)

Key Points

• TCW Group Inc. increased its holdings in Cousins Properties Incorporated by 31.4% during the first quarter, acquiring an additional 13,257 shares and bringing its total to 55,452 shares valued at $1,636,000.
• Cousins Properties reported a $0.74 EPS for the last quarter, exceeding analysts' estimates of $0.71, with revenue up 16.4% year-over-year.
• The company announced a quarterly dividend of $0.32 per share, which translates to an annualized dividend yield of 4.61%, despite having a high dividend payout ratio of 387.88%.

TCW Group Inc. boosted its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 31.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,452 shares of the real estate investment trust's stock after buying an additional 13,257 shares during the period. TCW Group Inc.'s holdings in Cousins Properties were worth $1,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CUZ. Corient Private Wealth LLC acquired a new position in Cousins Properties in the 4th quarter valued at about $201,000. American Century Companies Inc. acquired a new position in Cousins Properties in the 4th quarter valued at about $781,000. KLP Kapitalforvaltning AS acquired a new position in Cousins Properties in the 4th quarter valued at about $925,000. LPL Financial LLC grew its position in Cousins Properties by 53.2% in the 4th quarter. LPL Financial LLC now owns 23,149 shares of the real estate investment trust's stock valued at $709,000 after acquiring an additional 8,035 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Cousins Properties by 12.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 110,507 shares of the real estate investment trust's stock valued at $3,376,000 after acquiring an additional 11,845 shares in the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Cousins Properties Stock Down 2.4%

CUZ stock traded down $0.66 during trading on Friday, hitting $26.44. 957,170 shares of the company's stock were exchanged, compared to its average volume of 1,477,550. The business has a 50-day moving average price of $29.01 and a two-hundred day moving average price of $28.90. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 80.18, a PEG ratio of 2.54 and a beta of 1.33. Cousins Properties Incorporated has a 52-week low of $24.07 and a 52-week high of $32.55. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.70 earnings per share for the quarter, meeting analysts' consensus estimates of $0.70. Cousins Properties had a return on equity of 1.15% and a net margin of 5.97%. The company had revenue of $237.72 million during the quarter, compared to analysts' expectations of $243.73 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts expect that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, July 7th were paid a $0.32 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.28 dividend on an annualized basis and a yield of 4.8%. Cousins Properties's payout ratio is currently 387.88%.

Wall Street Analysts Forecast Growth

CUZ has been the subject of a number of analyst reports. Mizuho boosted their price objective on Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Wolfe Research raised Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective for the company in a research report on Monday, April 7th. Truist Financial downgraded Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Wednesday, July 2nd. Finally, Evercore ISI boosted their price objective on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cousins Properties presently has an average rating of "Moderate Buy" and a consensus price target of $32.50.

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.