Assetmark Inc. Buys 5,174 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Assetmark Inc. lifted its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 19,163.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,201 shares of the real estate investment trust’s stock after purchasing an additional 5,174 shares during the quarter. Assetmark Inc.’s holdings in Cousins Properties were worth $153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CUZ. State Board of Administration of Florida Retirement System boosted its position in shares of Cousins Properties by 4.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 161,712 shares of the real estate investment trust’s stock worth $3,888,000 after purchasing an additional 6,912 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Cousins Properties by 5.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,952 shares of the real estate investment trust’s stock valued at $369,000 after acquiring an additional 769 shares in the last quarter. Vanguard Group Inc. lifted its position in Cousins Properties by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock valued at $561,412,000 after acquiring an additional 456,251 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Cousins Properties by 3.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 270,983 shares of the real estate investment trust’s stock valued at $6,514,000 after acquiring an additional 9,102 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Cousins Properties by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 74,096 shares of the real estate investment trust’s stock valued at $1,782,000 after acquiring an additional 4,690 shares in the last quarter. Institutional investors own 94.38% of the company’s stock.

Insider Transactions at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the completion of the transaction, the chief accounting officer now directly owns 12,529 shares in the company, valued at approximately $352,440.77. The trade was a 32.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CUZ. Barclays raised their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI raised their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their price target on shares of Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Truist Financial raised their price target 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.50.

Cousins Properties Trading Down 0.3 %

Shares of CUZ stock opened at $30.65 on Monday. The company has a 50 day moving average of $30.17 and a 200-day moving average of $26.68. 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 Incorporated has a 12-month low of $19.45 and a 12-month high of $32.44. The firm has a market cap of $4.66 billion, a P/E ratio of 92.88, a PEG ratio of 4.95 and a beta of 1.29.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.60). Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. The company had revenue of $209.21 million for the quarter, compared to analysts’ expectations of $212.54 million. During the same quarter in the previous year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Cousins Properties Incorporated will post 2.68 earnings per share for the current year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.18%. Cousins Properties’s payout ratio 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.