Retirement Systems of Alabama Sells 2,881 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Retirement Systems of Alabama lessened its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 1.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 184,813 shares of the real estate investment trust’s stock after selling 2,881 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Cousins Properties worth $5,448,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in Cousins Properties by 368.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,947 shares of the real estate investment trust’s stock worth $23,052,000 after purchasing an additional 615,118 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Cousins Properties by 15.9% in the third quarter. Jennison Associates LLC now owns 2,205,415 shares of the real estate investment trust’s stock valued at $65,016,000 after buying an additional 302,309 shares during the period. AXA S.A. bought a new position in shares of Cousins Properties during the second quarter valued at $597,000. Point72 DIFC Ltd raised its position in Cousins Properties by 240.7% during the 2nd quarter. Point72 DIFC Ltd now owns 29,757 shares of the real estate investment trust’s stock worth $689,000 after purchasing an additional 21,022 shares during the last quarter. Finally, State Street Corp raised its position in shares of Cousins Properties by 0.6% during the third quarter. State Street Corp now owns 7,606,870 shares of the real estate investment trust’s stock worth $224,251,000 after acquiring an additional 48,668 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.

Cousins Properties Price Performance

Shares of NYSE:CUZ opened at $29.38 on Thursday. Cousins Properties Incorporated has a twelve month low of $21.58 and a twelve month high of $32.55. The stock’s 50 day moving average is $31.00 and its 200-day moving average is $27.87. 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 capitalization of $4.65 billion, a price-to-earnings ratio of 89.03, a PEG ratio of 4.02 and a beta of 1.29.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.60). The business had revenue of $209.21 million for the quarter, compared to analyst estimates of $212.54 million. Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. Sell-side analysts forecast that Cousins Properties Incorporated will post 2.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CUZ shares. Truist Financial increased their target price on shares of Cousins Properties from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. 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. Evercore ISI increased their price target on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, KeyCorp raised shares of Cousins Properties from a “sector weight” rating to an “overweight” rating and set a $34.00 price objective for the company in a research report on Tuesday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.14.

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.