Massachusetts Financial Services Co. MA Has $68.91 Million Stock Position in Cousins Properties Incorporated (NYSE:CUZ)

Massachusetts Financial Services Co. MA boosted its holdings in Cousins Properties Incorporated (NYSE:CUZ) by 3,768.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,337,416 shares of the real estate investment trust’s stock after acquiring an additional 2,276,986 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cousins Properties were worth $68,907,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. boosted its position in Cousins Properties by 130.8% in the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 858 shares in the last quarter. Versant Capital Management Inc boosted its holdings 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 valued at $38,000 after acquiring an additional 1,586 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in Cousins Properties during the 1st quarter worth $43,000. Signaturefd LLC increased its holdings in Cousins Properties by 30.8% in the 3rd quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 651 shares in the last quarter. Finally, CWM LLC raised its position in Cousins Properties by 74.6% in the third quarter. CWM LLC now owns 4,298 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 1,836 shares during the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on CUZ shares. Truist Financial boosted their price target on 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 research report on Monday, November 4th. Evercore ISI lifted 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. Barclays increased their price objective on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price on Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Cousins Properties Price Performance

CUZ stock opened at $31.72 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 96.12, a PEG ratio of 4.20 and a beta of 1.29. The company’s fifty day simple moving average is $30.40 and its 200 day simple moving average is $26.95. Cousins Properties Incorporated has a 12-month low of $19.48 and a 12-month high of $32.44.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings data 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 business had revenue of $209.21 million during the quarter, compared to analyst estimates of $212.54 million. During the same period in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect that Cousins Properties Incorporated will post 2.68 earnings per share for the current year.

Cousins Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is 387.88%.

Insider Activity

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were 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 directly owns 12,529 shares in the company, valued at approximately $352,440.77. This trade represents a 32.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

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.