Entropy Technologies LP Buys New Stake in Cousins Properties Incorporated (NYSE:CUZ)

Entropy Technologies LP purchased a new position in shares of Cousins Properties Incorporated (NYSE:CUZ) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,337 shares of the real estate investment trust’s stock, valued at approximately $511,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC boosted its stake in shares of Cousins Properties by 35.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 118,236 shares of the real estate investment trust’s stock worth $3,486,000 after acquiring an additional 31,199 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Cousins Properties by 1.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 131,391 shares of the real estate investment trust’s stock worth $3,873,000 after purchasing an additional 1,977 shares during the period. Atria Investments Inc purchased a new position in Cousins Properties during the third quarter worth approximately $208,000. Assetmark Inc. grew its holdings in Cousins Properties by 19,163.0% in the third quarter. Assetmark Inc. now owns 5,201 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 5,174 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Cousins Properties by 3.9% in the third quarter. Principal Financial Group Inc. now owns 12,140,948 shares of the real estate investment trust’s stock valued at $357,910,000 after buying an additional 458,387 shares in the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CUZ shares. Wells Fargo & Company lifted their price target on shares of Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Evercore ISI lifted their target price 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 upped their price target 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. Robert W. Baird lifted their price objective on Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Barclays increased their target price on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Cousins Properties currently has an average rating of “Moderate Buy” and an average target price of $31.50.

Cousins Properties Stock Down 0.3 %

Shares of NYSE CUZ opened at $30.65 on Friday. The stock has a market cap of $4.66 billion, a PE ratio of 92.88, a P/E/G ratio of 4.99 and a beta of 1.29. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. Cousins Properties Incorporated has a 12-month low of $19.45 and a 12-month high of $32.44. The company has a 50-day moving average of $30.17 and a 200 day moving average of $26.63.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share (EPS) 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 analysts’ expectations of $212.54 million. During the same quarter last year, the company earned $0.65 earnings per share. Cousins Properties’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Cousins Properties Incorporated will post 2.68 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently declared 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 4.18%. Cousins Properties’s dividend payout ratio is presently 387.88%.

Insider Activity

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the transaction, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at $352,440.77. The trade was a 32.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

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.