Proficio Capital Partners LLC Takes Position in Cousins Properties Incorporated (NYSE:CUZ)

Proficio Capital Partners LLC acquired a new stake in shares of Cousins Properties Incorporated (NYSE:CUZ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 23,623 shares of the real estate investment trust’s stock, valued at approximately $724,000.

Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Cousins Properties by 3,768.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,337,416 shares of the real estate investment trust’s stock worth $68,907,000 after buying an additional 2,276,986 shares during the last quarter. Rush Island Management LP bought a new position in Cousins Properties in the third quarter valued at about $46,393,000. Principal Financial Group Inc. lifted its holdings in Cousins Properties by 11.1% in the fourth 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Cousins Properties by 411.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,113,403 shares of the real estate investment trust’s stock worth $32,823,000 after purchasing an additional 895,917 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Cousins Properties during the 3rd quarter valued at about $20,276,000. 94.38% of the stock is owned by hedge funds and other institutional investors.

Cousins Properties Stock Performance

Cousins Properties stock opened at $29.61 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.64. Cousins Properties Incorporated has a twelve month low of $21.58 and a twelve month high of $32.55. The company’s 50-day moving average price is $29.95 and its 200-day moving average price is $30.19. The company has a market cap of $4.97 billion, a PE ratio of 98.70, a price-to-earnings-growth ratio of 2.98 and a beta of 1.28.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.62. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. On average, equities research analysts forecast that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.32%. Cousins Properties’s dividend payout ratio is presently 426.67%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Cousins Properties in a research note on Monday, March 17th. They set a “buy” rating and a $35.00 price target on the stock. KeyCorp upgraded Cousins Properties from a “sector weight” rating to an “overweight” rating and set a $34.00 target price on the stock in a research report on Tuesday, December 17th. Robert W. Baird cut their price target on Cousins Properties from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Truist Financial raised their price objective on Cousins Properties from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Barclays lowered their price objective on Cousins Properties from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.89.

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.