Raymond James Financial Inc. Makes New $25.15 Million Investment in Cousins Properties Incorporated (NYSE:CUZ)

Raymond James Financial Inc. acquired a new position in shares of Cousins Properties Incorporated (NYSE:CUZ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 820,726 shares of the real estate investment trust’s stock, valued at approximately $25,148,000. Raymond James Financial Inc. owned about 0.52% of Cousins Properties as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CUZ. Principal Financial Group Inc. boosted its stake in shares of 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 valued at $357,910,000 after purchasing an additional 458,387 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Cousins Properties by 19,163.0% in the 3rd quarter. Assetmark Inc. now owns 5,201 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 5,174 shares during the last quarter. Atria Investments Inc bought a new position in shares of Cousins Properties in the 3rd quarter valued at about $208,000. Entropy Technologies LP bought a new position in shares of Cousins Properties in the 3rd quarter valued at about $511,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of 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 valued at $23,052,000 after purchasing an additional 615,118 shares during the last quarter. Institutional investors own 94.38% of the company’s stock.

Cousins Properties Stock Performance

Shares of CUZ stock opened at $28.68 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market capitalization of $4.81 billion, a P/E ratio of 95.59, a price-to-earnings-growth ratio of 2.98 and a beta of 1.28. The company’s 50 day moving average price is $29.94 and its two-hundred day moving average price is $30.14. Cousins Properties Incorporated has a 52 week low of $21.58 and a 52 week high of $32.55.

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

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, January 3rd were issued a $0.32 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.46%. Cousins Properties’s dividend payout ratio (DPR) is presently 426.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CUZ shares. Robert W. Baird reduced their target price on shares of Cousins Properties from $34.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Mizuho raised shares of Cousins Properties from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $22.00 to $30.00 in a research note on Tuesday, January 7th. Barclays reduced their price objective on shares of Cousins Properties from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. StockNews.com lowered shares of Cousins Properties from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. Finally, Truist Financial lifted their price objective on shares of Cousins Properties from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cousins Properties currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

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.