Principal Financial Group Inc. Lowers Stock Position in Cousins Properties Incorporated (NYSE:CUZ)

Principal Financial Group Inc. trimmed its position in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,682,561 shares of the real estate investment trust's stock after selling 84,596 shares during the quarter. Principal Financial Group Inc. owned about 7.68% of Cousins Properties worth $270,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Cousins Properties in the fourth quarter worth $31,000. Blue Trust Inc. boosted its holdings in Cousins Properties by 130.8% in the 2nd quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust's stock worth $36,000 after buying an additional 858 shares during the period. Versant Capital Management Inc increased its stake in Cousins Properties by 3,236.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust's stock worth $38,000 after buying an additional 1,586 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in Cousins Properties during the first quarter valued at about $43,000. Finally, Westend Capital Management LLC purchased a new position in shares of Cousins Properties in the first quarter valued at about $184,000. Institutional investors own 94.38% of the company's stock.

Cousins Properties Price Performance

Cousins Properties stock traded up $0.42 during mid-day trading on Friday, reaching $28.51. 1,419,627 shares of the company's stock traded hands, compared to its average volume of 1,359,772. Cousins Properties Incorporated has a 12-month low of $17.40 and a 12-month high of $28.57. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 4.62 and a beta of 1.30. The stock has a 50 day moving average of $25.57 and a two-hundred day moving average of $23.98. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.

Cousins Properties (NYSE:CUZ - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.66 by ($0.61). Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business had revenue of $212.98 million during the quarter, compared to the consensus estimate of $208.18 million. During the same period in the previous year, the business posted $2.75 EPS. The firm's revenue was up 4.2% on a year-over-year basis. Equities analysts forecast that Cousins Properties Incorporated will post 2.67 earnings per share for the current year.

Cousins Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were issued a dividend of $0.32 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.28 annualized dividend and a yield of 4.49%. Cousins Properties's payout ratio is presently 261.22%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CUZ shares. Evercore ISI reiterated an "in-line" rating and set a $29.00 target price on shares of Cousins Properties in a research report on Tuesday, August 20th. StockNews.com upgraded shares of Cousins Properties from a "sell" rating to a "hold" rating in a research report on Thursday, May 23rd. Robert W. Baird boosted their target price on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Barclays raised their target price on shares of Cousins Properties from $25.00 to $30.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. Finally, Truist Financial boosted their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Cousins Properties presently has an average rating of "Hold" and a consensus target price of $26.43.

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.

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