Raymond James Financial Inc. Takes Position in Cousins Properties Incorporated (NYSE:CUZ)

Raymond James Financial Inc. bought a new position in shares of Cousins Properties Incorporated (NYSE:CUZ) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 820,726 shares of the real estate investment trust’s stock, valued at approximately $25,148,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in Cousins Properties by 0.8% during the fourth quarter. Arizona State Retirement System now owns 44,154 shares of the real estate investment trust’s stock worth $1,353,000 after buying an additional 366 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Cousins Properties during the fourth quarter worth $724,000. Cbre Investment Management Listed Real Assets LLC increased its holdings in Cousins Properties by 270.0% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 351,729 shares of the real estate investment trust’s stock worth $10,777,000 after buying an additional 256,679 shares during the last quarter. Assetmark Inc. increased its holdings in Cousins Properties by 15.3% during the fourth quarter. Assetmark Inc. now owns 5,995 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 794 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Cousins Properties by 15.2% during the fourth quarter. Victory Capital Management Inc. now owns 78,011 shares of the real estate investment trust’s stock worth $2,390,000 after buying an additional 10,283 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CUZ. Robert W. Baird reduced their price objective on shares of Cousins Properties from $34.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Barclays reduced their price objective on shares of Cousins Properties from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. 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 report on Wednesday, December 18th. StockNews.com cut shares of Cousins Properties from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Finally, KeyCorp raised shares of Cousins Properties from a “sector weight” rating to an “overweight” rating and set a $34.00 price objective for the company in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Cousins Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Cousins Properties Trading Up 2.2 %

Shares of Cousins Properties stock opened at $28.68 on Friday. The firm has a 50-day moving average of $29.94 and a 200-day moving average of $30.14. The stock has a market cap of $4.81 billion, a PE ratio of 95.59, a PEG ratio of 2.98 and a beta of 1.28. Cousins Properties Incorporated has a 52-week low of $21.58 and a 52-week high of $32.55. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.74 and a current ratio of 0.74.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts forecast that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Announces Dividend

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

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.