Point72 Asset Management L.P. Cuts Stock Holdings in Cousins Properties Incorporated (NYSE:CUZ)

Point72 Asset Management L.P. reduced its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 461,761 shares of the real estate investment trust’s stock after selling 7,739 shares during the period. Point72 Asset Management L.P. owned 0.30% of Cousins Properties worth $10,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CUZ. Blue Trust Inc. lifted its position in shares of Cousins Properties by 130.8% during the 2nd quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 858 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Cousins Properties by 3,236.7% during the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 1,586 shares during the period. Abich Financial Wealth Management LLC bought a new stake in Cousins Properties during the first quarter worth $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cousins Properties in the second quarter worth $115,000. Finally, Acadian Asset Management LLC grew its stake in Cousins Properties by 46.4% in the 2nd quarter. Acadian Asset Management LLC now owns 6,086 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 1,928 shares during the period. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.13, for a total value of $168,695.61. Following the transaction, the chief accounting officer now directly owns 12,529 shares in the company, valued at approximately $352,440.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Cousins Properties Price Performance

Shares of NYSE CUZ opened at $29.48 on Tuesday. 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 $30.50. The stock has a market cap of $4.48 billion, a PE ratio of 60.16, a price-to-earnings-growth ratio of 4.90 and a beta of 1.31. The stock has a fifty day moving average of $27.82 and a 200-day moving average of $24.80.

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

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd will be given a $0.32 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.34%. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Robert W. Baird increased their target price on shares of Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays lifted their price target 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. Evercore ISI raised 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, September 16th. Finally, Truist Financial upped their price target on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Cousins Properties currently has an average rating of “Moderate Buy” and a consensus target price of $28.29.

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.