Retirement Systems of Alabama Buys 584 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Retirement Systems of Alabama raised its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,091 shares of the real estate investment trust’s stock after acquiring an additional 584 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of Cousins Properties worth $4,629,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp grew its holdings in Cousins Properties by 5.3% in the 4th quarter. Truist Financial Corp now owns 15,558 shares of the real estate investment trust’s stock valued at $379,000 after buying an additional 781 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Cousins Properties by 10.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 191,583 shares of the real estate investment trust’s stock worth $4,665,000 after acquiring an additional 17,681 shares during the period. Bailard Inc. acquired a new stake in Cousins Properties in the 4th quarter worth about $224,000. Jennison Associates LLC boosted its holdings in Cousins Properties by 53.2% in the 4th quarter. Jennison Associates LLC now owns 1,092,361 shares of the real estate investment trust’s stock valued at $26,599,000 after purchasing an additional 379,134 shares during the period. Finally, Keeler Thomas Management LLC grew its position in shares of Cousins Properties by 7.7% during the 4th quarter. Keeler Thomas Management LLC now owns 97,064 shares of the real estate investment trust’s stock worth $2,408,000 after purchasing an additional 6,931 shares in the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Gregg D. Adzema sold 71,097 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $1,657,271.07. Following the completion of the sale, the chief financial officer now directly owns 85,872 shares in the company, valued at $2,001,676.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Barclays cut their price target on Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Finally, Truist Financial dropped their price target on Cousins Properties from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Cousins Properties currently has a consensus rating of “Hold” and a consensus price target of $23.67.

Cousins Properties Trading Up 1.7 %

Shares of NYSE CUZ opened at $23.85 on Tuesday. The firm has a 50 day moving average price of $23.07 and a two-hundred day moving average price of $22.38. The stock has a market cap of $3.63 billion, a P/E ratio of 48.67, a price-to-earnings-growth ratio of 5.06 and a beta of 1.27. Cousins Properties Incorporated has a 52-week low of $17.40 and a 52-week high of $25.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.07 and a current ratio of 1.07.

Cousins Properties (NYSE:CUZ) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.54). The company had revenue of $209.20 million for the quarter, compared to analyst estimates of $199.35 million. Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, equities analysts forecast that Cousins Properties Incorporated will post 2.63 EPS for the current year.

Cousins Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, April 4th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cousins Properties’s dividend payout ratio is presently 261.22%.

Cousins Properties 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.