Canada Pension Plan Investment Board Invests $1.30 Million in Cousins Properties Incorporated (NYSE:CUZ)

Canada Pension Plan Investment Board acquired a new position in Cousins Properties Incorporated (NYSE:CUZ) during the second quarter, Holdings Channel reports. The firm acquired 56,000 shares of the real estate investment trust’s stock, valued at approximately $1,296,000.

Several other large investors also recently added to or reduced their stakes in CUZ. Blue Trust Inc. raised its holdings in shares of Cousins Properties by 130.8% in the 2nd quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 858 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Cousins Properties by 3,236.7% in the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,586 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Cousins Properties in the first quarter valued at approximately $43,000. Acadian Asset Management LLC lifted its position in Cousins Properties by 46.4% during the second quarter. Acadian Asset Management LLC now owns 6,086 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 1,928 shares during the last quarter. Finally, Westend Capital Management LLC purchased a new position in Cousins Properties in the 1st quarter worth approximately $184,000. Institutional investors own 94.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CUZ. Robert W. Baird raised their price objective on shares of Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial lifted their price target on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Evercore ISI upped their price objective on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company raised their price objective 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 upped their target price on Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

Insider Activity at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.13, for a total value of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares in the company, valued at approximately $352,440.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.40% of the stock is owned by company insiders.

Cousins Properties Price Performance

Shares of Cousins Properties stock opened at $29.29 on Friday. 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. The business’s 50 day simple moving average is $27.82 and its two-hundred day simple moving average is $24.79. The stock has a market capitalization of $4.45 billion, a P/E ratio of 59.77, a price-to-earnings-growth ratio of 4.90 and a beta of 1.31.

Cousins Properties (NYSE:CUZ) 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). The firm had revenue of $212.98 million for the quarter, compared to the consensus estimate of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.75 earnings per share. Analysts forecast that Cousins Properties Incorporated will post 2.67 EPS for the current year.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd will be paid a $0.32 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.37%. Cousins Properties’s payout ratio is presently 261.22%.

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.