Federated Hermes Inc. Raises Position in Cousins Properties Incorporated (NYSE:CUZ)

Federated Hermes Inc. boosted its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,534 shares of the real estate investment trust’s stock after buying an additional 501 shares during the period. Federated Hermes Inc.’s holdings in Cousins Properties were worth $545,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Cousins Properties during the fourth quarter worth approximately $31,000. Blue Trust Inc. lifted its stake in shares of Cousins Properties by 130.8% in the second 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 boosted its position 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 last quarter. Abich Financial Wealth Management LLC purchased a new stake in Cousins Properties during the 1st quarter valued at about $43,000. Finally, Acadian Asset Management LLC raised its holdings 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 acquiring an additional 1,928 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the sale, the chief accounting officer now directly owns 12,529 shares in the company, valued at $352,440.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

Cousins Properties Trading Up 1.6 %

NYSE CUZ opened at $29.83 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. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 60.87, a PEG ratio of 4.73 and a beta of 1.31. The firm has a 50 day simple moving average of $27.42 and a 200-day simple moving average of $24.63. Cousins Properties Incorporated has a one year low of $17.40 and a one year high of $29.88.

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

Cousins Properties Announces Dividend

The business 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 $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Thursday, October 3rd. Cousins Properties’s dividend payout ratio is currently 261.22%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Barclays raised their target price on Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Evercore ISI boosted 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. Truist Financial raised their price objective on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company lifted their target price on shares of Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Cousins Properties has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

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.