USA Financial Formulas Purchases Shares of 9,652 Cousins Properties Incorporated (NYSE:CUZ)

USA Financial Formulas purchased a new stake in Cousins Properties Incorporated (NYSE:CUZ) during the 4th quarter, Holdings Channel.com reports. The fund purchased 9,652 shares of the real estate investment trust’s stock, valued at approximately $296,000.

Several other hedge funds also recently added to or reduced their stakes in CUZ. Commonwealth Equity Services LLC increased its stake in Cousins Properties by 27.9% in the second quarter. Commonwealth Equity Services LLC now owns 14,293 shares of the real estate investment trust’s stock valued at $331,000 after purchasing an additional 3,120 shares during the last quarter. Victory Capital Management Inc. increased its stake in Cousins Properties by 98.1% in the second quarter. Victory Capital Management Inc. now owns 65,310 shares of the real estate investment trust’s stock valued at $1,512,000 after purchasing an additional 32,336 shares during the last quarter. Acadian Asset Management LLC increased its stake in Cousins Properties by 46.4% in 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. Federated Hermes Inc. increased its stake in Cousins Properties by 2.2% in the second quarter. Federated Hermes Inc. now owns 23,534 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 501 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in Cousins Properties in the second quarter valued at approximately $1,399,000. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CUZ. KeyCorp upgraded shares of Cousins Properties from a “sector weight” rating to an “overweight” rating and set a $34.00 price target on the stock in a research note on Tuesday, December 17th. Mizuho raised Cousins Properties from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $22.00 to $30.00 in a report on Tuesday, January 7th. Truist Financial increased their price objective on Cousins Properties from $30.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Robert W. Baird increased their price objective on Cousins Properties from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets downgraded Cousins Properties from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $31.00 to $32.00 in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.22.

Cousins Properties Price Performance

Shares of NYSE CUZ opened at $30.13 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a fifty day moving average price of $30.64 and a 200 day moving average price of $28.89. Cousins Properties Incorporated has a 1-year low of $21.58 and a 1-year high of $32.55. The company has a market cap of $4.77 billion, a PE ratio of 91.31, a P/E/G ratio of 3.67 and a beta of 1.29.

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). Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. The company had revenue of $209.21 million for the quarter, compared to analyst estimates of $212.54 million. During the same period in the prior year, the business earned $0.65 earnings per share. Cousins Properties’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that Cousins Properties Incorporated will post 2.68 EPS for the current year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, January 3rd were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, January 3rd. Cousins Properties’s dividend payout ratio is presently 387.88%.

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.