Resolution Capital Ltd Takes Position in Cousins Properties Incorporated (NYSE:CUZ)

Resolution Capital Ltd bought a new stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,409,089 shares of the real estate investment trust's stock, valued at approximately $135,094,000. Cousins Properties comprises approximately 2.4% of Resolution Capital Ltd's investment portfolio, making the stock its 13th biggest position. Resolution Capital Ltd owned 2.79% of Cousins Properties as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GRS Advisors LLC acquired a new position in shares of Cousins Properties in the 4th quarter valued at about $63,759,000. Norges Bank acquired a new stake in shares of Cousins Properties during the 4th quarter worth approximately $57,194,000. Principal Financial Group Inc. increased its stake in shares of Cousins Properties by 11.1% in the 4th quarter. Principal Financial Group Inc. now owns 13,491,300 shares of the real estate investment trust's stock valued at $413,375,000 after acquiring an additional 1,350,352 shares in the last quarter. Millennium Management LLC lifted its position in shares of Cousins Properties by 400.9% during the 4th quarter. Millennium Management LLC now owns 1,233,050 shares of the real estate investment trust's stock valued at $37,781,000 after acquiring an additional 986,863 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Cousins Properties by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 24,802,104 shares of the real estate investment trust's stock worth $759,936,000 after acquiring an additional 985,934 shares in the last quarter. Institutional investors own 94.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CUZ shares. Evercore ISI increased their price target on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a report on Monday. Jefferies Financial Group began coverage on shares of Cousins Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $35.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday. Barclays dropped their price objective on shares of Cousins Properties from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Robert W. Baird decreased their target price on shares of Cousins Properties from $34.00 to $33.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $32.60.

Cousins Properties Price Performance

NYSE CUZ traded down $0.28 during trading on Tuesday, reaching $27.76. The company's stock had a trading volume of 652,104 shares, compared to its average volume of 1,376,665. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a fifty day moving average of $27.92 and a 200 day moving average of $29.56. Cousins Properties Incorporated has a one year low of $22.01 and a one year high of $32.55. The stock has a market capitalization of $4.66 billion, a PE ratio of 92.53, a P/E/G ratio of 2.98 and a beta of 1.34.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.03. The company had revenue of $6.81 million during the quarter, compared to the consensus estimate of $238.49 million. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. Cousins Properties's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Analysts expect that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Thursday, April 3rd. Cousins Properties's payout ratio is 387.88%.

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.