Wellington Management Group LLP Acquires Shares of 687,778 Cousins Properties Incorporated (NYSE:CUZ)

Wellington Management Group LLP purchased a new position in shares of Cousins Properties Incorporated (NYSE:CUZ) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 687,778 shares of the real estate investment trust’s stock, valued at approximately $20,276,000.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Cousins Properties by 49.7% during the third quarter. Larson Financial Group LLC now owns 1,319 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 438 shares during the period. Blue Trust Inc. lifted its holdings in shares of Cousins Properties by 130.8% during the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 858 shares during the period. Signaturefd LLC lifted its holdings 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 purchasing an additional 651 shares during the period. Quarry LP lifted its holdings in shares of Cousins Properties by 74.5% during the third quarter. Quarry LP now owns 3,976 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 1,697 shares during the period. Finally, CWM LLC lifted its holdings in shares of Cousins Properties by 74.6% during the third quarter. CWM LLC now owns 4,298 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 1,836 shares during the period. 94.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CUZ has been the subject of several recent research reports. Evercore ISI increased their price target on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Barclays raised their target price on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Robert W. Baird raised their target price on Cousins Properties from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Truist Financial raised their target price on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 30th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Cousins Properties has a consensus rating of “Moderate Buy” and a consensus target price of $31.71.

Cousins Properties Trading Up 1.1 %

Shares of CUZ stock opened at $30.64 on Friday. Cousins Properties Incorporated has a fifty-two week low of $21.58 and a fifty-two week high of $32.55. The stock has a market cap of $4.85 billion, a P/E ratio of 92.85, a P/E/G ratio of 4.02 and a beta of 1.29. The business has a fifty day simple moving average of $30.90 and a 200-day simple moving average of $27.68. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share 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 firm had revenue of $209.21 million during the quarter, compared to analysts’ expectations of $212.54 million. During the same quarter in the prior year, the business earned $0.65 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast that Cousins Properties Incorporated will post 2.68 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is currently 387.88%.

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.