Point72 Asia Singapore Pte. Ltd. Makes New Investment in Cousins Properties Incorporated (NYSE:CUZ)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cousins Properties Incorporated (NYSE:CUZ) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 4,984 shares of the real estate investment trust’s stock, valued at approximately $115,000.

A number of other hedge funds have also recently made changes to their positions in the company. Point72 DIFC Ltd boosted its stake in Cousins Properties by 240.7% during the second quarter. Point72 DIFC Ltd now owns 29,757 shares of the real estate investment trust’s stock valued at $689,000 after buying an additional 21,022 shares during the period. Marshall Wace LLP boosted its position in shares of Cousins Properties by 92.8% during the 2nd quarter. Marshall Wace LLP now owns 853,456 shares of the real estate investment trust’s stock valued at $19,758,000 after acquiring an additional 410,726 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Cousins Properties by 543.0% during the second quarter. Bank of Montreal Can now owns 229,878 shares of the real estate investment trust’s stock worth $5,322,000 after purchasing an additional 194,127 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Cousins Properties by 145.6% in the second quarter. Thrivent Financial for Lutherans now owns 146,227 shares of the real estate investment trust’s stock worth $3,385,000 after purchasing an additional 86,690 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Cousins Properties by 23.0% in the second quarter. Sei Investments Co. now owns 167,029 shares of the real estate investment trust’s stock worth $3,867,000 after purchasing an additional 31,251 shares during the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CUZ shares. Evercore ISI upped their target price on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company upped their price objective on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Robert W. Baird raised their price objective on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Truist Financial upped their target price on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Barclays lifted their price target on shares of Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.29.

Cousins Properties Stock Performance

Cousins Properties stock opened at $29.28 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The firm has a market cap of $4.45 billion, a P/E ratio of 59.76, a P/E/G ratio of 4.90 and a beta of 1.31. Cousins Properties Incorporated has a 1-year low of $17.40 and a 1-year high of $30.50. The firm has a 50-day moving average of $27.82 and a 200-day moving average of $24.79.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.61). Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The business had revenue of $212.98 million during the quarter, compared to analysts’ expectations of $208.18 million. During the same quarter last year, the business posted $2.75 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts expect that Cousins Properties Incorporated will post 2.67 EPS for the current year.

Cousins Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd will be issued a $0.32 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.28 annualized dividend and a yield of 4.37%. Cousins Properties’s dividend payout ratio (DPR) is presently 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 that occurred 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 sale, the chief accounting officer now directly owns 12,529 shares in the company, valued at $352,440.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

Cousins Properties 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.