CORDA Investment Management LLC. Reduces Holdings in Cousins Properties Incorporated (NYSE:CUZ)

CORDA Investment Management LLC. lowered its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 972,785 shares of the real estate investment trust’s stock after selling 6,917 shares during the quarter. Cousins Properties comprises 2.4% of CORDA Investment Management LLC.’s portfolio, making the stock its 18th largest position. CORDA Investment Management LLC. owned approximately 0.62% of Cousins Properties worth $29,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CUZ. JPMorgan Chase & Co. grew its holdings in shares of Cousins Properties by 21.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,749,662 shares of the real estate investment trust’s stock worth $51,580,000 after acquiring an additional 309,571 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Cousins Properties by 368.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,947 shares of the real estate investment trust’s stock valued at $23,052,000 after purchasing an additional 615,118 shares in the last quarter. Jennison Associates LLC grew its stake in 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 worth $65,016,000 after purchasing an additional 302,309 shares during the period. Geode Capital Management LLC raised its holdings in Cousins Properties by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,864,177 shares of the real estate investment trust’s stock worth $84,457,000 after purchasing an additional 36,727 shares in the last quarter. Finally, State Street Corp lifted its position in 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 valued at $224,251,000 after buying an additional 48,668 shares during the period. 94.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CUZ has been the topic of a number of recent research reports. Jefferies Financial Group raised shares of Cousins Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $33.00 to $36.00 in a research report on Thursday, January 2nd. Truist Financial upped their price objective on shares of Cousins Properties from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. BMO Capital Markets downgraded shares of Cousins Properties from an “outperform” rating to a “market perform” rating and raised their target price for the company from $31.00 to $32.00 in a research note on Tuesday, December 3rd. Barclays dropped 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, Wells Fargo & Company raised their price objective on Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Cousins Properties Price Performance

Shares of NYSE CUZ opened at $30.13 on Friday. The firm has a market cap of $5.05 billion, a P/E ratio of 100.43, a PEG ratio of 2.98 and a beta of 1.29. Cousins Properties Incorporated has a twelve month low of $21.58 and a twelve month high of $32.55. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $30.24 and a 200 day moving average of $29.99.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.62. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. As a group, research analysts expect that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, January 3rd were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.25%. Cousins Properties’s dividend payout ratio is presently 426.67%.

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.