Sanctuary Advisors LLC Buys Shares of 23,181 Cousins Properties Incorporated (NYSE:CUZ)

Sanctuary Advisors LLC purchased a new stake in Cousins Properties Incorporated (NYSE:CUZ) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,181 shares of the real estate investment trust’s stock, valued at approximately $530,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Cousins Properties by 2.0% during 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. Centersquare Investment Management LLC raised its position in shares of Cousins Properties by 8.9% during the 1st quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust’s stock worth $112,377,000 after purchasing an additional 399,468 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cousins Properties by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,214,595 shares of the real estate investment trust’s stock valued at $51,266,000 after buying an additional 98,222 shares in the last quarter. Jennison Associates LLC grew its holdings in Cousins Properties by 75.6% during the 1st quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust’s stock valued at $46,107,000 after buying an additional 825,547 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Cousins Properties by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,677,240 shares of the real estate investment trust’s stock valued at $38,828,000 after buying an additional 28,554 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Robert W. Baird upped their price objective on 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 raised their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Barclays boosted their price objective 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 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. Finally, Wells Fargo & Company lifted their target price on shares of Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. One equities 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Insider Buying and Selling at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $352,440.77. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Cousins Properties Stock Performance

NYSE:CUZ opened at $30.84 on Wednesday. The company has a market cap of $4.69 billion, a P/E ratio of 62.93, a P/E/G ratio of 4.41 and a beta of 1.30. The firm’s 50 day moving average is $28.47 and its two-hundred day moving average is $25.26. Cousins Properties Incorporated has a fifty-two week low of $17.40 and a fifty-two week high of $31.30. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.

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

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were issued a $0.32 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 annualized dividend and a yield of 4.15%. Cousins Properties’s payout ratio is 261.22%.

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.