Resolution Capital Ltd Acquires New Position in Cousins Properties Incorporated (NYSE:CUZ)

Resolution Capital Ltd bought a new position in Cousins Properties Incorporated (NYSE:CUZ) during the 4th quarter, HoldingsChannel.com reports. The fund bought 4,409,089 shares of the real estate investment trust’s stock, valued at approximately $135,094,000. Cousins Properties accounts for about 2.4% of Resolution Capital Ltd’s portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUZ. Jones Financial Companies Lllp grew its position in Cousins Properties by 1,609.3% in the fourth quarter. Jones Financial Companies Lllp now owns 923 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 869 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Cousins Properties by 67.4% in the 4th quarter. UMB Bank n.a. now owns 981 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 395 shares during the last quarter. FIL Ltd lifted its stake in shares of Cousins Properties by 24.6% in the 4th quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 643 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Cousins Properties by 473.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,301 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 3,551 shares in the last quarter. Finally, Quarry LP increased its position in Cousins Properties by 9.4% during the fourth quarter. Quarry LP now owns 4,351 shares of the real estate investment trust’s stock worth $133,000 after buying an additional 375 shares during the last quarter. Institutional investors own 94.38% of the company’s stock.

Cousins Properties Price Performance

Shares of NYSE:CUZ opened at $27.92 on Thursday. The firm has a market capitalization of $4.69 billion, a PE ratio of 93.07, a PEG ratio of 2.98 and a beta of 1.34. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.64. Cousins Properties Incorporated has a 1-year low of $22.01 and a 1-year high of $32.55. The business’s 50 day moving average is $27.92 and its 200-day moving average is $29.62.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $6.81 million for the quarter, compared to the consensus estimate of $238.49 million. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 earnings per share. Sell-side analysts predict that Cousins Properties Incorporated will post 2.76 earnings per share for the current year.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, April 3rd were paid a $0.32 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.58%. Cousins Properties’s payout ratio is currently 387.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Robert W. Baird dropped their price target on shares of Cousins Properties from $34.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Barclays cut their target price on shares of Cousins Properties from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 8th. Jefferies Financial Group began coverage on Cousins Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Wolfe Research raised Cousins Properties from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.70.

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.