Rush Island Management LP Acquires 1,438,127 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Rush Island Management LP boosted its holdings in Cousins Properties Incorporated (NYSE:CUZ) by 91.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,011,843 shares of the real estate investment trust’s stock after buying an additional 1,438,127 shares during the period. Cousins Properties makes up 6.1% of Rush Island Management LP’s portfolio, making the stock its 9th biggest holding. Rush Island Management LP’s holdings in Cousins Properties were worth $92,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Cousins Properties by 1,609.3% in the 4th quarter. Jones Financial Companies Lllp now owns 923 shares of the real estate investment trust’s stock valued at $28,000 after purchasing 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 in 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 in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Cousins Properties by 473.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,301 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 3,551 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Cousins Properties by 9.4% in the 4th quarter. Quarry LP now owns 4,351 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 375 shares in the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

Cousins Properties Stock Performance

Cousins Properties stock opened at $28.47 on Friday. The stock’s 50 day moving average price is $27.92 and its 200 day moving average price is $29.60. The firm has a market capitalization of $4.78 billion, a PE ratio of 94.90, a price-to-earnings-growth ratio of 2.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.74 and a current ratio of 0.74. Cousins Properties Incorporated has a one year low of $22.01 and a one year high of $32.55.

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

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, April 3rd. This represents a $1.28 annualized dividend and a yield of 4.50%. Cousins Properties’s dividend payout ratio is presently 387.88%.

Wall Street Analyst Weigh In

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

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.