Cousins Properties Incorporated (NYSE:CUZ) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 21.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,749,662 shares of the real estate investment trust's stock after purchasing an additional 309,571 shares during the period. JPMorgan Chase & Co. owned 1.11% of Cousins Properties worth $51,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sanctuary Advisors LLC lifted its position in Cousins Properties by 36.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 31,660 shares of the real estate investment trust's stock worth $1,004,000 after acquiring an additional 8,479 shares during the period. Virtu Financial LLC acquired a new stake in shares of Cousins Properties during the third quarter worth $227,000. TCW Group Inc. acquired a new stake in shares of Cousins Properties during the third quarter worth $1,274,000. Coldstream Capital Management Inc. purchased a new position in Cousins Properties in the 3rd quarter valued at $208,000. Finally, Geode Capital Management LLC increased its stake in Cousins Properties by 1.3% in the 3rd 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 buying an additional 36,727 shares during the period. 94.38% of the stock is owned by hedge funds and other institutional investors.

Cousins Properties Price Performance

NYSE CUZ traded down $0.38 during mid-day trading on Friday, hitting $30.55. The stock had a trading volume of 1,140,959 shares, compared to its average volume of 1,927,579. The company has a 50 day simple moving average of $30.88 and a 200 day simple moving average of $28.51. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 92.58, a P/E/G ratio of 4.02 and a beta of 1.29. Cousins Properties Incorporated has a 52-week low of $21.58 and a 52-week high of $32.55. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $209.21 million during the quarter, compared to analyst estimates of $212.54 million. During the same period in the previous year, the company posted $0.65 earnings per share. Cousins Properties's revenue was up 5.2% on a year-over-year basis. Equities analysts forecast that Cousins Properties Incorporated will post 2.68 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, January 3rd will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.19%. Cousins Properties's dividend payout ratio (DPR) is 387.88%.

Analyst Ratings Changes

CUZ has been the topic of several analyst reports. KeyCorp raised shares of Cousins Properties from a "sector weight" rating to an "overweight" rating and set a $34.00 target price on the stock in a report on Tuesday, December 17th. BMO Capital Markets lowered Cousins Properties from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from $31.00 to $32.00 in a report on Tuesday, December 3rd. Jefferies Financial Group upgraded Cousins Properties from a "hold" rating to a "buy" rating and boosted their target price for the stock from $33.00 to $36.00 in a research report on Thursday. Robert W. Baird raised their price target on Cousins Properties from $33.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Finally, Barclays upped their price objective on Cousins Properties from $30.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $33.50.

Cousins Properties Company 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.