California Public Employees Retirement System Sells 23,251 Shares of Cousins Properties Incorporated (NYSE:CUZ)

California Public Employees Retirement System reduced its position in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 250,705 shares of the real estate investment trust's stock after selling 23,251 shares during the period. California Public Employees Retirement System owned about 0.16% of Cousins Properties worth $7,682,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Cousins Properties by 21.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,749,662 shares of the real estate investment trust's stock valued at $51,580,000 after purchasing an additional 309,571 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cousins Properties by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,864,177 shares of the real estate investment trust's stock valued at $84,457,000 after purchasing an additional 36,727 shares during the period. State Street Corp lifted its stake in shares of Cousins Properties by 0.6% in the third quarter. State Street Corp now owns 7,606,870 shares of the real estate investment trust's stock worth $224,251,000 after acquiring an additional 48,668 shares in the last quarter. Rhumbline Advisers raised its position in shares of Cousins Properties by 4.9% in the 4th quarter. Rhumbline Advisers now owns 466,850 shares of the real estate investment trust's stock valued at $14,304,000 after purchasing an additional 21,939 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Cousins Properties by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,677,769 shares of the real estate investment trust's stock valued at $82,047,000 after buying an additional 189,411 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Cousins Properties Price Performance

Shares of NYSE:CUZ traded up $0.17 on Friday, hitting $26.08. The stock had a trading volume of 1,734,134 shares, compared to its average volume of 1,257,962. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 86.93, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.74 and a current ratio of 0.74. The firm's 50 day moving average price is $29.13 and its 200-day moving average price is $30.03. Cousins Properties Incorporated has a twelve month low of $21.58 and a twelve month high of $32.55.

Cousins Properties (NYSE:CUZ - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.69 EPS for the quarter, topping the consensus estimate of $0.07 by $0.62. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. On average, equities research analysts predict that Cousins Properties Incorporated will post 2.76 earnings per share for the current year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.91%. Cousins Properties's dividend payout ratio (DPR) is currently 426.67%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Cousins Properties from $30.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Mizuho raised shares of Cousins Properties from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $22.00 to $30.00 in a research report on Tuesday, January 7th. KeyCorp raised Cousins Properties from a "sector weight" rating to an "overweight" rating and set a $34.00 price objective for the company in a report on Tuesday, December 17th. Wolfe Research raised shares of Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a report on Monday, April 7th. Finally, Barclays reduced their price target on Cousins Properties from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $32.70.

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.