Jennison Associates LLC Increases Stock Holdings in Cousins Properties Incorporated (NYSE:CUZ)

Jennison Associates LLC increased its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 53.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,092,361 shares of the real estate investment trust’s stock after buying an additional 379,134 shares during the period. Jennison Associates LLC’s holdings in Cousins Properties were worth $26,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CUZ. PARK CIRCLE Co purchased a new position in shares of Cousins Properties during the 3rd quarter valued at approximately $31,000. Cetera Trust Company N.A purchased a new position in Cousins Properties in the 4th quarter valued at $156,000. Van Lanschot Kempen Investment Management N.V. purchased a new position in Cousins Properties in the 3rd quarter valued at $173,000. Spirit of America Management Corp NY lifted its holdings in Cousins Properties by 750.0% in the 4th quarter. Spirit of America Management Corp NY now owns 8,500 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 7,500 shares in the last quarter. Finally, United Services Automobile Association lifted its holdings in Cousins Properties by 23.9% in the 3rd quarter. United Services Automobile Association now owns 13,158 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 2,536 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Stock Up 1.9 %

NYSE CUZ opened at $23.12 on Thursday. Cousins Properties Incorporated has a 52 week low of $17.40 and a 52 week high of $25.19. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $23.07 and its 200-day simple moving average is $22.12. The firm has a market cap of $3.52 billion, a PE ratio of 42.04, a P/E/G ratio of 6.13 and a beta of 1.27.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.53). Cousins Properties had a return on equity of 1.81% and a net margin of 10.33%. The company had revenue of $197.00 million for the quarter, compared to analysts’ expectations of $198.47 million. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Cousins Properties Incorporated will post 2.61 earnings per share for the current year.

Cousins Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, April 4th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cousins Properties’s payout ratio is 232.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Truist Financial decreased their price objective on Cousins Properties from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 16th. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Finally, Barclays decreased their price objective on Cousins Properties from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Cousins Properties has an average rating of “Hold” and a consensus price target of $23.67.

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.