State of New Jersey Common Pension Fund D Lowers Position in Cousins Properties Incorporated (NYSE:CUZ)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 26.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,414 shares of the real estate investment trust’s stock after selling 47,169 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.09% of Cousins Properties worth $2,996,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Fore Capital LLC bought a new position in shares of Cousins Properties in the second quarter worth approximately $370,000. Texas Permanent School Fund Corp grew its stake in Cousins Properties by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 133,620 shares of the real estate investment trust’s stock worth $3,093,000 after buying an additional 790 shares in the last quarter. Choreo LLC bought a new position in shares of Cousins Properties in the 2nd quarter worth $472,000. LSV Asset Management raised its position in shares of Cousins Properties by 37.9% during the 2nd quarter. LSV Asset Management now owns 849,927 shares of the real estate investment trust’s stock valued at $19,676,000 after buying an additional 233,744 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Cousins Properties by 46.4% during the 2nd quarter. Acadian Asset Management LLC now owns 6,086 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 1,928 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.

Cousins Properties Stock Performance

NYSE:CUZ opened at $29.14 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. Cousins Properties Incorporated has a fifty-two week low of $17.40 and a fifty-two week high of $29.77. The business has a 50 day moving average price of $27.12 and a 200-day moving average price of $24.50. The firm has a market cap of $4.43 billion, a PE ratio of 59.47, a price-to-earnings-growth ratio of 4.73 and a beta of 1.31.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). The firm had revenue of $212.98 million during the quarter, compared to the consensus estimate of $208.18 million. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. Cousins Properties’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the business earned $2.75 EPS. Equities research analysts predict that Cousins Properties Incorporated will post 2.67 earnings per share for the current year.

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Thursday, October 3rd. Cousins Properties’s payout ratio is 261.22%.

Insiders Place Their Bets

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the transaction, the chief accounting officer now owns 12,529 shares in the company, valued at $352,440.77. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

CUZ has been the subject of several research analyst reports. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Evercore ISI boosted their target price on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday. Truist Financial increased their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Barclays boosted their price objective on shares of Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their target price on shares of Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

Cousins Properties 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.