Norges Bank Makes New Investment in Cousins Properties Incorporated (NYSE:CUZ)

Norges Bank acquired a new stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,866,658 shares of the real estate investment trust's stock, valued at approximately $57,194,000. Norges Bank owned about 1.18% of Cousins Properties as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Rush Island Management LP acquired a new stake in Cousins Properties during the 3rd quarter valued at $46,393,000. Principal Financial Group Inc. lifted 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 buying an additional 1,350,352 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cousins Properties by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 24,802,104 shares of the real estate investment trust's stock worth $759,936,000 after buying an additional 985,934 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Cousins Properties by 411.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,113,403 shares of the real estate investment trust's stock valued at $32,823,000 after buying an additional 895,917 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Cousins Properties in the 4th quarter valued at about $25,148,000. 94.38% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

CUZ has been the subject of a number of research analyst reports. Barclays reduced their price objective on Cousins Properties from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Mizuho raised Cousins Properties from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $22.00 to $30.00 in a report on Tuesday, January 7th. KeyCorp upgraded Cousins Properties from a "sector weight" rating to an "overweight" rating and set a $34.00 price objective on the stock in a research report on Tuesday, December 17th. Robert W. Baird reduced their target price on shares of Cousins Properties from $34.00 to $33.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. Finally, Truist Financial raised their price target on shares of Cousins Properties from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Cousins Properties presently has an average rating of "Moderate Buy" and an average price target of $32.89.

Cousins Properties Price Performance

Cousins Properties stock traded down $1.15 during trading hours on Friday, reaching $26.01. 2,083,391 shares of the stock were exchanged, compared to its average volume of 1,246,495. The stock has a 50 day moving average of $29.72 and a two-hundred day moving average of $30.21. The company has a market cap of $4.37 billion, a P/E ratio of 86.70, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. 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 twelve month low of $21.58 and a twelve month high of $32.55.

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

Cousins Properties Dividend Announcement

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