KLP Kapitalforvaltning AS Purchases New Stake in Cousins Properties Incorporated (NYSE:CUZ)

KLP Kapitalforvaltning AS acquired a new stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,184 shares of the real estate investment trust's stock, valued at approximately $925,000.

A number of other large investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Cousins Properties by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 12,140,948 shares of the real estate investment trust's stock worth $357,910,000 after acquiring an additional 458,387 shares during the period. Cerity Partners LLC purchased a new stake in Cousins Properties during the third quarter valued at about $584,000. Bank of Montreal Can boosted its position in Cousins Properties by 31.4% during the third quarter. Bank of Montreal Can now owns 302,079 shares of the real estate investment trust's stock worth $8,845,000 after purchasing an additional 72,201 shares during the period. Quantbot Technologies LP purchased a new position in shares of Cousins Properties in the third quarter worth about $646,000. Finally, FMR LLC raised its position in shares of Cousins Properties by 69.8% in the third quarter. FMR LLC now owns 19,161 shares of the real estate investment trust's stock valued at $565,000 after purchasing an additional 7,877 shares during the period. 94.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. KeyCorp upgraded shares of Cousins Properties from a "sector weight" rating to an "overweight" rating and set a $34.00 price objective for the company in a research note on Tuesday, December 17th. Truist Financial raised their price target on Cousins Properties from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. StockNews.com upgraded Cousins Properties from a "sell" rating to a "hold" rating in a research note on Tuesday, March 18th. Mizuho upgraded Cousins Properties from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $22.00 to $30.00 in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group started coverage on Cousins Properties in a research report on Monday, March 17th. They set a "buy" rating and a $35.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.89.

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Cousins Properties Price Performance

Shares of NYSE CUZ traded down $1.15 during midday trading on Friday, hitting $26.01. 2,083,391 shares of the company's stock were exchanged, compared to its average volume of 1,246,495. The business's fifty day moving average price is $29.72 and its two-hundred day moving average price is $30.21. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 86.70, a PEG ratio of 2.98 and a beta of 1.28. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.64. Cousins Properties Incorporated has a 12-month low of $21.58 and a 12-month high of $32.55.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.62. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. As a group, research analysts forecast that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, April 3rd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Thursday, April 3rd. Cousins Properties's payout ratio is currently 426.67%.

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.