Quantbot Technologies LP Buys Shares of 21,920 Cousins Properties Incorporated (NYSE:CUZ)

Quantbot Technologies LP purchased a new position in Cousins Properties Incorporated (NYSE:CUZ) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,920 shares of the real estate investment trust’s stock, valued at approximately $646,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CUZ. Sumitomo Mitsui Trust Group Inc. raised its position in Cousins Properties by 368.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,947 shares of the real estate investment trust’s stock worth $23,052,000 after buying an additional 615,118 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Cousins Properties by 15.9% during the third quarter. Jennison Associates LLC now owns 2,205,415 shares of the real estate investment trust’s stock valued at $65,016,000 after purchasing an additional 302,309 shares during the last quarter. AXA S.A. purchased a new position in shares of Cousins Properties during the second quarter valued at approximately $597,000. Point72 DIFC Ltd boosted its holdings in Cousins Properties by 240.7% in the second quarter. Point72 DIFC Ltd now owns 29,757 shares of the real estate investment trust’s stock worth $689,000 after purchasing an additional 21,022 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Cousins Properties in the 3rd quarter worth approximately $863,000. 94.38% of the stock is owned by institutional investors.

Cousins Properties Stock Down 1.3 %

CUZ stock opened at $31.33 on Tuesday. The business’s 50-day moving average price is $30.69 and its 200-day moving average price is $27.28. The stock has a market cap of $4.77 billion, a P/E ratio of 94.94, a PEG ratio of 4.23 and a beta of 1.29. 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 twelve month low of $21.58 and a twelve month high of $32.55.

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 for the quarter, missing the consensus estimate of $0.67 by ($0.60). The firm had revenue of $209.21 million for the quarter, compared to analysts’ expectations of $212.54 million. Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. Cousins Properties’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. On average, equities research analysts forecast that Cousins Properties Incorporated will post 2.68 EPS for the current year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were paid a $0.32 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.09%. Cousins Properties’s payout ratio is presently 387.88%.

Insider Buying and Selling 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 owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This trade represents a 32.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CUZ. Barclays increased their price target on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Evercore ISI increased their target price on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Truist Financial boosted their price target on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 30th. StockNews.com upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Robert W. Baird boosted their target price on shares of Cousins Properties from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Cousins Properties has an average rating of “Moderate Buy” and an average target price of $31.50.

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.