Daiwa Securities Group Inc. Boosts Holdings in Cousins Properties Incorporated (NYSE:CUZ)

Daiwa Securities Group Inc. boosted its position in Cousins Properties Incorporated (NYSE:CUZ) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,776 shares of the real estate investment trust’s stock after purchasing an additional 3,299 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cousins Properties were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CUZ. Massachusetts Financial Services Co. MA lifted its stake in Cousins Properties by 3,768.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,337,416 shares of the real estate investment trust’s stock worth $68,907,000 after purchasing an additional 2,276,986 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake 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. Swedbank AB purchased a new stake in Cousins Properties in the 1st quarter worth approximately $14,306,000. Principal Financial Group Inc. lifted its stake in Cousins Properties by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 12,140,948 shares of the real estate investment trust’s stock worth $357,910,000 after purchasing an additional 458,387 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Cousins Properties by 92.8% in the 2nd quarter. Marshall Wace LLP now owns 853,456 shares of the real estate investment trust’s stock worth $19,758,000 after purchasing an additional 410,726 shares in the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CUZ. Truist Financial increased their target price on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays increased their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Robert W. Baird increased their price target on shares of Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company increased their price target on shares of Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Insiders Place Their Bets

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the sale, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at $352,440.77. This trade represents a 32.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Cousins Properties Price Performance

CUZ stock opened at $31.94 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. Cousins Properties Incorporated has a 52 week low of $19.48 and a 52 week high of $32.55. The firm’s fifty day moving average is $30.56 and its 200 day moving average is $27.10. The firm has a market cap of $4.86 billion, a P/E ratio of 96.79, a P/E/G ratio of 4.25 and a beta of 1.29.

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

Cousins Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is currently 387.88%.

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.