Point72 Asia Singapore Pte. Ltd. Acquires 4,946 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Point72 Asia Singapore Pte. Ltd. increased its stake in Cousins Properties Incorporated (NYSE:CUZ) by 99.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,930 shares of the real estate investment trust’s stock after purchasing an additional 4,946 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Cousins Properties were worth $293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of Cousins Properties by 130.8% in the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 858 shares during the period. Larson Financial Group LLC boosted its position in shares of Cousins Properties by 49.7% in the third quarter. Larson Financial Group LLC now owns 1,319 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 438 shares during the period. Signaturefd LLC increased its stake in shares of Cousins Properties by 30.8% in the third quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 651 shares in the last quarter. CWM LLC raised its holdings in Cousins Properties by 74.6% during the third quarter. CWM LLC now owns 4,298 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 1,836 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of 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 worth $140,000 after acquiring an additional 1,928 shares during the period. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CUZ shares. Truist Financial upped their target price on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Evercore ISI lifted their target price on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Barclays increased their price target on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company raised their target price on shares of Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.57.

Insider Buying and Selling at Cousins Properties

In other 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 transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now directly owns 12,529 shares in the company, valued at approximately $352,440.77. This trade represents a 32.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

Cousins Properties Price Performance

Shares of Cousins Properties stock opened at $30.87 on Wednesday. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 93.53, a price-to-earnings-growth ratio of 4.17 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50 day moving average price of $30.70 and a 200-day moving average price of $27.33. Cousins Properties Incorporated has a one year low of $21.58 and a one year high of $32.55.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). The firm had revenue of $209.21 million for the quarter, compared to the consensus estimate of $212.54 million. Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. Equities analysts expect that Cousins Properties Incorporated will post 2.68 EPS for the current year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.15%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s payout ratio is currently 387.88%.

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.