Creative Planning Acquires 7,788 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Creative Planning grew its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 36.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,316 shares of the real estate investment trust’s stock after purchasing an additional 7,788 shares during the quarter. Creative Planning’s holdings in Cousins Properties were worth $864,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CUZ. Jupiter Asset Management Ltd. bought a new position in Cousins Properties in the 1st quarter valued at $846,000. SG Americas Securities LLC grew its position in Cousins Properties by 554.8% during the first quarter. SG Americas Securities LLC now owns 185,283 shares of the real estate investment trust’s stock worth $4,454,000 after buying an additional 156,988 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Cousins Properties by 124.6% in the 1st quarter. BNP Paribas Financial Markets now owns 246,382 shares of the real estate investment trust’s stock worth $5,923,000 after acquiring an additional 136,685 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Cousins Properties by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock valued at $561,412,000 after acquiring an additional 456,251 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its position in shares of Cousins Properties by 8.9% during the 1st quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust’s stock valued at $112,377,000 after acquiring an additional 399,468 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 12,529 shares in the company, valued at approximately $352,440.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CUZ. Barclays lifted their price objective on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Truist Financial upped their price objective on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Robert W. Baird increased their price objective on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Finally, Evercore ISI increased their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.67.

Cousins Properties Trading Down 2.1 %

Shares of Cousins Properties stock opened at $29.98 on Friday. Cousins Properties Incorporated has a fifty-two week low of $17.85 and a fifty-two week high of $32.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $4.56 billion, a P/E ratio of 90.85, a P/E/G ratio of 4.71 and a beta of 1.30. The company has a fifty day moving average of $29.57 and a 200 day moving average of $26.03.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). The firm had revenue of $209.21 million for the quarter, compared to analysts’ expectations of $212.54 million. Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. On average, sell-side analysts anticipate that Cousins Properties Incorporated will post 2.67 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.27%. Cousins Properties’s dividend payout ratio (DPR) 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.