Cousins Properties Incorporated (NYSE:CUZ) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 61.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 183,753 shares of the real estate investment trust’s stock after selling 293,391 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.11% of Cousins Properties worth $5,421,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cousins Properties by 130.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,768 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 5,522 shares during the period. Spire Wealth Management purchased a new stake in shares of Cousins Properties during the 1st quarter worth about $25,000. Asset Management One Co. Ltd. grew its holdings in shares of Cousins Properties by 0.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 252,174 shares of the real estate investment trust’s stock worth $7,439,000 after purchasing an additional 1,288 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Cousins Properties by 16.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,421 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 1,297 shares during the period. Finally, Advisor Resource Council purchased a new stake in shares of Cousins Properties during the 1st quarter worth about $418,000. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CUZ shares. Wall Street Zen upgraded Cousins Properties from a “sell” rating to a “hold” rating in a report on Thursday, May 8th. Evercore ISI upped their price target on Cousins Properties from $30.00 to $31.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. Truist Financial cut Cousins Properties from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Wednesday. Wolfe Research upgraded Cousins Properties from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Monday, April 7th. Finally, Wells Fargo & Company decreased their price target on Cousins Properties from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.40.

Cousins Properties Stock Performance

Cousins Properties stock opened at $30.15 on Friday. The stock has a market cap of $5.06 billion, a P/E ratio of 91.36, a price-to-earnings-growth ratio of 2.76 and a beta of 1.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $28.79 and a 200-day moving average of $29.14. Cousins Properties Incorporated has a 52 week low of $22.33 and a 52 week high of $32.55.

Cousins Properties (NYSE:CUZ) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $6.81 million during the quarter, compared to analysts’ expectations of $238.49 million. Cousins Properties had a return on equity of 1.15% and a net margin of 5.97%. The business’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 EPS. On average, analysts expect that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, July 7th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Monday, July 7th. Cousins Properties’s dividend payout ratio (DPR) is currently 387.88%.

About Cousins Properties

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.