Rhumbline Advisers has $10.47M position in Cousins Properties Incorporated (NYSE:CUZ)

VaselineSeptember 12, 2024

0 4 minutes read

Rhumbline Advisers raised its stake in Cousins Properties Incorporated (NYSE:CUZ – Free Report) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 452,191 shares of the real estate investment trust’s stock after purchasing an additional 2,972 shares during the period. Rhumbline Advisers owned 0.30% of Cousins Properties worth $10,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their positions in the stock. State of Alaska Department of Revenue boosted its position in Cousins Properties by 0.6% in the first quarter. State of Alaska Department of Revenue now owns 88,588 shares of the real estate investment trust’s stock valued at $2,128,000 after purchasing an additional 486 shares in the last quarter. Retirement System of Alabama boosted its position in shares of Cousins Properties by 0.3% in the first quarter. Retirement Systems of Alabama now owns 190,589 shares of the real estate investment trust’s stock valued at $4,582,000 after buying an additional 498 shares in the last quarter. State of North Carolina State Treasurer raised its stake in Cousins Properties by 1.0% during the fourth quarter. State Treasurer State of North Carolina now owns 67,107 shares of the real estate investment trust’s stock worth $1,634,000 after buying an additional 650 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Cousins Properties by 5.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,952 shares of the real estate investment trust’s stock worth $369,000 after buying an additional 769 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in Cousins Properties by 5.3% in the fourth 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 during the period. Institutional investors and hedge funds own 94.38% of the company’s shares.

The Wall Street analyst weighs in

Several brokerages have recently commented on CUZ. Robert W. Baird boosted their price target on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Barclays boosted their price objective on Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Truist Financial raised their target price on shares of Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Evercore ISI restated an “in-line” rating and set a $29.00 price objective on shares of Cousins Properties in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.14.

Want more great investment ideas?

Get the latest research report on summer properties

Summer property stocks rose 0.2%

CUZ opened at $28.79 on Thursday. Cousins Properties Incorporated has a 12-month low of $17.40 and a 12-month high of $28.84. The company’s 50-day moving average price is $26.35, and its two-hundred-day moving average price is $24.24. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 58.59, a PEG ratio of 4.65 and a beta of 1.31. The company has a quick ratio of 1.03, a current ratio of 1.03, and a debt-to-equity ratio of 0.58.

Cousins Properties (NYSE:CUZ – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The company had revenue of $212.98 million for the quarter, compared to analysts’ expectations of $208.18 million. During the same period in the previous year, the company earned $2.75 EPS. The company’s quarterly revenue was up 4.2% year over year. As a group, equities analysts expect that Cousins Properties Incorporated will post 2.67 earnings per share for the current year.

Cousins Properties announces dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Wednesday, July 3rd were issued a $0.32 dividend. This represents a dividend of $1.28 on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Wednesday, July 3. Cousins Properties’ payout ratio is currently 261.22%.

Indoor activity

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. 1.40% of shares are owned by company insiders.

Cousins Property Profile

(Free Report)

Cousins Properties Incorporated (“Cousins”) is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The company, based in Atlanta and operating through its operating partnership, Cousins Properties LP, invests primarily in Class A office buildings located in high-growth Sun Belt markets.