Franklin Resources Inc. lifted its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 16.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 309,897 shares of the real estate investment trust's stock after purchasing an additional 44,772 shares during the quarter. Franklin Resources Inc. owned 0.20% of Cousins Properties worth $9,495,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Cousins Properties during the fourth quarter worth approximately $57,194,000. Principal Financial Group Inc. increased its stake in shares of Cousins Properties by 11.1% during the 4th quarter. Principal Financial Group Inc. now owns 13,491,300 shares of the real estate investment trust's stock worth $413,375,000 after purchasing an additional 1,350,352 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Cousins Properties by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 24,802,104 shares of the real estate investment trust's stock valued at $759,936,000 after purchasing an additional 985,934 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Cousins Properties during the fourth quarter worth $25,148,000. Finally, Wellington Management Group LLP bought a new position in Cousins Properties during the third quarter valued at about $20,276,000. 94.38% of the stock is currently owned by hedge funds and other institutional investors.
Cousins Properties Trading Up 0.2 %
CUZ traded up $0.06 during midday trading on Monday, reaching $26.19. 136,488 shares of the company were exchanged, compared to its average volume of 1,253,475. Cousins Properties Incorporated has a one year low of $21.58 and a one year high of $32.55. 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 stock has a market capitalization of $4.40 billion, a P/E ratio of 87.30, a PEG ratio of 2.98 and a beta of 1.24. The stock's 50-day simple moving average is $29.13 and its 200 day simple moving average is $30.03.
Cousins Properties (NYSE:CUZ - Get Free Report) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.62. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. As a group, analysts forecast that Cousins Properties Incorporated will post 2.76 earnings per share for the current fiscal year.
Cousins Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.89%. The ex-dividend date is Thursday, April 3rd. Cousins Properties's payout ratio is 426.67%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on CUZ shares. KeyCorp upgraded Cousins Properties from a "sector weight" rating to an "overweight" rating and set a $34.00 target price for the company in a report on Tuesday, December 17th. Barclays cut their price objective 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. Robert W. Baird cut their price target on Cousins Properties from $34.00 to $33.00 and set an "outperform" rating for the company in a report on Monday, February 24th. Jefferies Financial Group assumed coverage on shares of Cousins Properties in a research note on Monday, March 17th. They set a "buy" rating and a $35.00 target price for the company. Finally, Truist Financial lifted their target price on Cousins Properties from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Cousins Properties presently has an average rating of "Moderate Buy" and a consensus target price of $32.70.
Check Out Our Latest Stock Analysis on Cousins Properties
Cousins Properties Profile
(
Free Report)
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.
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