Assetmark Inc. Acquires 5,174 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Assetmark Inc. boosted its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 19,163.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,201 shares of the real estate investment trust’s stock after purchasing an additional 5,174 shares during the period. Assetmark Inc.’s holdings in Cousins Properties were worth $153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CUZ. State Board of Administration of Florida Retirement System lifted its stake in Cousins Properties by 4.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 161,712 shares of the real estate investment trust’s stock worth $3,888,000 after purchasing an additional 6,912 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Cousins Properties by 5.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,952 shares of the real estate investment trust’s stock worth $369,000 after buying an additional 769 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Cousins Properties by 2.0% during the first quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock worth $561,412,000 after buying an additional 456,251 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Cousins Properties by 3.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 270,983 shares of the real estate investment trust’s stock worth $6,514,000 after buying an additional 9,102 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Cousins Properties by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 74,096 shares of the real estate investment trust’s stock worth $1,782,000 after buying an additional 4,690 shares in the last quarter. 94.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CUZ. Truist Financial upped their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. StockNews.com upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company upped their price target on shares of Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Evercore ISI upped their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, Robert W. Baird increased their price objective on Cousins Properties from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Cousins Properties Stock Performance

NYSE CUZ opened at $30.65 on Monday. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 92.88, a PEG ratio of 4.95 and a beta of 1.29. Cousins Properties Incorporated has a twelve month low of $19.45 and a twelve month high of $32.44. The stock has a fifty day simple moving average of $30.17 and a 200 day simple moving average of $26.68. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60.

Cousins Properties (NYSE:CUZ) last posted 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). Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The company had revenue of $209.21 million during the quarter, compared to analyst estimates of $212.54 million. During the same quarter in the previous year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts expect that Cousins Properties Incorporated will post 2.68 EPS for the current year.

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.18%. Cousins Properties’s payout ratio is currently 387.88%.

Insiders Place Their Bets

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now directly owns 12,529 shares in the company, valued at approximately $352,440.77. This trade represents a 32.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

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.