Arizona State Retirement System Has $1.03 Million Stake in Cousins Properties Incorporated (NYSE:CUZ)

Arizona State Retirement System trimmed its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,427 shares of the real estate investment trust’s stock after selling 765 shares during the quarter. Arizona State Retirement System’s holdings in Cousins Properties were worth $1,033,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CUZ. HighTower Advisors LLC raised its position in shares of Cousins Properties by 24.3% during the first quarter. HighTower Advisors LLC now owns 8,349 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 1,633 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Cousins Properties by 2.1% during the first quarter. PNC Financial Services Group Inc. now owns 14,922 shares of the real estate investment trust’s stock worth $600,000 after purchasing an additional 306 shares during the period. AlphaCrest Capital Management LLC purchased a new stake in Cousins Properties in the 1st quarter valued at $287,000. Natixis Advisors L.P. raised its position in Cousins Properties by 13.1% in the 1st quarter. Natixis Advisors L.P. now owns 16,971 shares of the real estate investment trust’s stock valued at $684,000 after buying an additional 1,969 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Cousins Properties by 115.7% in the 1st quarter. Bank of Montreal Can now owns 66,926 shares of the real estate investment trust’s stock valued at $2,752,000 after buying an additional 35,897 shares during the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CUZ shares. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Truist Financial cut their price target on Cousins Properties from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. Barclays cut their price target on Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. upgraded Cousins Properties from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $26.00 to $27.00 in a research note on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $23.29.

Cousins Properties Stock Performance

Shares of CUZ opened at $22.07 on Tuesday. The stock’s 50-day simple moving average is $23.12 and its 200 day simple moving average is $22.00. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 6.07 and a beta of 1.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.76 and a current ratio of 0.76. Cousins Properties Incorporated has a 52-week low of $17.40 and a 52-week high of $25.19.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.53). Cousins Properties had a net margin of 10.33% and a return on equity of 1.81%. The business had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $198.47 million. During the same period in the previous year, the business earned $0.66 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Research analysts forecast that Cousins Properties Incorporated will post 2.61 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, April 4th were issued a $0.32 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.28 annualized dividend and a dividend yield of 5.80%. Cousins Properties’s payout ratio is currently 232.73%.

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.