Thrivent Financial for Lutherans Increases Stock Position in Cousins Properties Incorporated (NYSE:CUZ)

Thrivent Financial for Lutherans raised its holdings in Cousins Properties Incorporated (NYSE:CUZ) by 145.6% during the second quarter, Holdings Channel.com reports. The firm owned 146,227 shares of the real estate investment trust’s stock after purchasing an additional 86,690 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cousins Properties were worth $3,385,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

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 value of $168,695.61. Following the transaction, the chief accounting officer now directly owns 12,529 shares in the company, valued at approximately $352,440.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

Cousins Properties Stock Down 0.8 %

Shares of Cousins Properties stock opened at $29.28 on Monday. The business’s fifty day moving average price is $27.82 and its two-hundred day moving average price is $24.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $4.45 billion, a P/E ratio of 59.76, a PEG 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.

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

Cousins Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Evercore ISI raised 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. Truist Financial raised their price objective on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Barclays raised their price objective on Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company increased their target price on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Finally, Robert W. Baird raised their price target on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. 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 stock. According to data from MarketBeat, Cousins Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.29.

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.