Massachusetts Financial Services Co. MA Purchases 2,276,986 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Massachusetts Financial Services Co. MA raised its position in Cousins Properties Incorporated (NYSE:CUZ) by 3,768.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,337,416 shares of the real estate investment trust’s stock after purchasing an additional 2,276,986 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.54% of Cousins Properties worth $68,907,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Cousins Properties by 130.8% in the 2nd quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 858 shares during the period. Versant Capital Management Inc lifted its stake in Cousins Properties by 3,236.7% in the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,586 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Cousins Properties in the first quarter valued at approximately $43,000. Signaturefd LLC increased its position in shares of Cousins Properties by 30.8% during the third quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 651 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cousins Properties during the second quarter worth $115,000. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Cousins Properties Trading Up 0.6 %

Shares of NYSE:CUZ opened at $31.72 on Monday. Cousins Properties Incorporated has a 52-week low of $19.48 and a 52-week high of $32.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $4.83 billion, a P/E ratio of 96.12, a price-to-earnings-growth ratio of 4.20 and a beta of 1.29. The company has a 50-day simple moving average of $30.40 and a 200 day simple moving average of $26.95.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $212.54 million. During the same period in the previous year, the business earned $0.65 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Cousins Properties Incorporated will post 2.68 earnings per share for the current year.

Cousins Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were issued a $0.32 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.04%. Cousins Properties’s dividend payout ratio is currently 387.88%.

Insider Activity

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.13, for a total value of $168,695.61. Following the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This represents a 32.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

CUZ has been the subject of a number of research reports. Evercore ISI increased their target price on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company raised their price target on shares of Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Robert W. Baird raised their price objective on Cousins Properties from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Truist Financial upped their target price on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Barclays raised their price target on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.50.

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.