The Manufacturers Life Insurance Company Has $2.96 Million Stake in Cousins Properties Incorporated (NYSE:CUZ)

The Manufacturers Life Insurance Company reduced its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 1.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 127,720 shares of the real estate investment trust’s stock after selling 2,129 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Cousins Properties worth $2,957,000 as of its most recent filing with the SEC.

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

Insider Activity

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 12,529 shares in the company, valued at $352,440.77. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.

Cousins Properties Price Performance

NYSE CUZ opened at $28.66 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. The company has a market cap of $4.36 billion, a PE ratio of 58.48, a price-to-earnings-growth ratio of 4.90 and a beta of 1.30. Cousins Properties Incorporated has a 52 week low of $17.40 and a 52 week high of $30.50. The firm’s 50-day simple moving average is $28.26 and its two-hundred day simple moving average is $25.09.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 EPS 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 business had revenue of $212.98 million for the quarter, compared to analysts’ expectations of $208.18 million. During the same quarter in the previous year, the company posted $2.75 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts predict that Cousins Properties Incorporated will post 2.67 earnings per share for the current year.

Cousins Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, October 3rd. Cousins Properties’s payout ratio is currently 261.22%.

Analysts Set New Price Targets

CUZ has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. 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. 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. Truist Financial lifted 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, Barclays boosted their target price on shares of Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average 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.