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

Jennison Associates LLC boosted its position in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 15.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,205,415 shares of the real estate investment trust's stock after buying an additional 302,309 shares during the period. Jennison Associates LLC owned approximately 1.45% of Cousins Properties worth $65,016,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Cousins Properties by 130.8% during the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 858 shares during the period. Versant Capital Management Inc increased its holdings in shares of Cousins Properties by 3,236.7% during the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 1,586 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Cousins Properties during the first quarter worth approximately $43,000. Signaturefd LLC lifted its holdings in shares of Cousins Properties by 30.8% in the 3rd 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. Finally, CWM LLC grew its position in Cousins Properties by 74.6% in the 3rd quarter. CWM LLC now owns 4,298 shares of the real estate investment trust's stock valued at $127,000 after purchasing an additional 1,836 shares during the period. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cousins Properties

In related 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 owns 12,529 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.

Cousins Properties Stock Up 4.1 %

CUZ stock opened at $32.39 on Thursday. The stock has a market cap of $4.93 billion, a P/E ratio of 94.24, a P/E/G ratio of 4.12 and a beta of 1.29. Cousins Properties Incorporated has a 1-year low of $19.48 and a 1-year high of $32.44. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The stock's fifty day simple moving average is $30.31 and its two-hundred day simple moving average is $26.82.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.60). Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The firm had revenue of $209.21 million for the quarter, compared to analysts' expectations of $212.54 million. During the same period in the prior year, the company earned $0.65 EPS. The firm's quarterly revenue was up 5.2% on a year-over-year basis. 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. Stockholders of record on Thursday, October 3rd were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.95%. Cousins Properties's dividend payout ratio (DPR) is currently 387.88%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, August 30th. StockNews.com raised shares of Cousins Properties from a "sell" rating to a "hold" rating in a research report on Monday, November 4th. Robert W. Baird boosted their price objective on Cousins Properties from $31.00 to $33.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Evercore ISI raised 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. Finally, Barclays upped their price target on Cousins Properties from $30.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.

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.