Synovus Financial Corp grew its stake in Cousins Properties Incorporated (NYSE:CUZ) by 13.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,950 shares of the real estate investment trust’s stock after acquiring an additional 2,288 shares during the period. Synovus Financial Corp’s holdings in Cousins Properties were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vestmark Advisory Solutions Inc. grew its position in shares of Cousins Properties by 3.1% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 9,978 shares of the real estate investment trust’s stock worth $353,000 after buying an additional 303 shares during the period. State of Michigan Retirement System grew its position in shares of Cousins Properties by 1.7% during the 1st quarter. State of Michigan Retirement System now owns 55,025 shares of the real estate investment trust’s stock worth $1,945,000 after buying an additional 900 shares during the period. Nkcfo LLC grew its position in shares of Cousins Properties by 0.9% during the 1st quarter. Nkcfo LLC now owns 111,850 shares of the real estate investment trust’s stock worth $3,954,000 after buying an additional 1,000 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in shares of Cousins Properties by 9.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 13,096 shares of the real estate investment trust’s stock worth $463,000 after buying an additional 1,150 shares during the period. Finally, Montag A & Associates Inc. acquired a new stake in shares of Cousins Properties during the 4th quarter worth approximately $39,000. 94.83% of the stock is owned by institutional investors.
Shares of CUZ opened at $39.58 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.29 and a current ratio of 1.29. Cousins Properties Incorporated has a twelve month low of $24.17 and a twelve month high of $39.59. The firm has a 50 day moving average of $36.44. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 63.84, a P/E/G ratio of 3.01 and a beta of 1.04.
The business also recently declared a quarterly dividend, which was paid on Monday, April 19th. Shareholders of record on Tuesday, April 6th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, April 5th. This represents a $1.24 dividend on an annualized basis and a yield of 3.13%. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.30. Cousins Properties’s payout ratio is presently 44.60%.
Separately, Robert W. Baird upgraded shares of Cousins Properties from a “neutral” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Wednesday, April 14th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.63.
In other news, Director Scott W. Fordham sold 43,750 shares of the business’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $36.79, for a total value of $1,609,562.50. Following the sale, the director now owns 194,179 shares of the company’s stock, valued at $7,143,845.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.
Cousins Properties Profile
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.
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