Sumitomo Mitsui Trust Group Inc. Purchases 615,118 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Sumitomo Mitsui Trust Group Inc. boosted its position in Cousins Properties Incorporated (NYSE:CUZ) by 368.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 781,947 shares of the real estate investment trust’s stock after purchasing an additional 615,118 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.51% of Cousins Properties worth $23,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Entropy Technologies LP bought a new stake in shares of Cousins Properties during the third quarter worth $511,000. Los Angeles Capital Management LLC increased its stake in Cousins Properties by 35.8% in 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 buying an additional 31,199 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in Cousins Properties by 1.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 131,391 shares of the real estate investment trust’s stock valued at $3,873,000 after buying an additional 1,977 shares in the last quarter. Atria Investments Inc purchased a new stake in Cousins Properties in the 3rd quarter valued at about $208,000. Finally, Assetmark Inc. grew its stake in Cousins Properties by 19,163.0% in the 3rd quarter. Assetmark Inc. now owns 5,201 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 5,174 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Price Performance

Shares of CUZ stock opened at $30.65 on Monday. The stock’s 50-day moving average is $30.17 and its 200 day moving average is $26.68. Cousins Properties Incorporated has a 1-year low of $19.45 and a 1-year high of $32.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $4.66 billion, a P/E ratio of 92.88, a PEG ratio of 4.95 and a beta of 1.29.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.60). Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The firm had revenue of $209.21 million for the quarter, compared to analysts’ expectations of $212.54 million. During the same period in the previous year, the company posted $0.65 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts predict that Cousins Properties Incorporated will post 2.68 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

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

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at $352,440.77. This trade represents a 32.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CUZ shares. Evercore ISI lifted 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 note on Monday, September 16th. Truist Financial lifted their target price on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Robert W. Baird increased their price target on Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their price objective on Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, StockNews.com upgraded shares of Cousins Properties from a “sell” rating to a “hold” 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Cousins Properties 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.