Creative Planning Has $498,000 Position in Cousins Properties Incorporated (NYSE:CUZ)

Creative Planning boosted its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,528 shares of the real estate investment trust’s stock after acquiring an additional 1,575 shares during the quarter. Creative Planning’s holdings in Cousins Properties were worth $498,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its stake in Cousins Properties by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 88,588 shares of the real estate investment trust’s stock worth $2,128,000 after acquiring an additional 486 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of Cousins Properties by 0.3% during the first quarter. Retirement Systems of Alabama now owns 190,589 shares of the real estate investment trust’s stock worth $4,582,000 after purchasing an additional 498 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Cousins Properties by 2.2% during the second quarter. Federated Hermes Inc. now owns 23,534 shares of the real estate investment trust’s stock worth $545,000 after purchasing an additional 501 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Cousins Properties by 5.1% during 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 purchasing an additional 769 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Cousins Properties by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 133,620 shares of the real estate investment trust’s stock worth $3,093,000 after purchasing an additional 790 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CUZ has been the topic of several research analyst reports. Evercore ISI increased their target price on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Truist Financial increased their target price on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Robert W. Baird raised their price target on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their price target on Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Finally, Barclays raised their price target on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Cousins Properties Stock Up 2.4 %

Shares of Cousins Properties stock opened at $30.27 on Tuesday. The stock’s 50-day moving average is $28.39 and its 200 day moving average is $25.22. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 61.78, a PEG ratio of 4.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. Cousins Properties Incorporated has a one year low of $17.40 and a one year high of $30.50.

Cousins Properties (NYSE:CUZ) last issued 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). The business had revenue of $212.98 million for the quarter, compared to analysts’ expectations of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.75 earnings per share. Equities research analysts anticipate that Cousins Properties Incorporated will post 2.67 EPS for the current year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Thursday, October 3rd. Cousins Properties’s payout ratio is currently 261.22%.

Insider Transactions at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction on Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

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.