Millennium Management LLC Buys 54,225 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Millennium Management LLC boosted its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 10.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 566,471 shares of the real estate investment trust's stock after buying an additional 54,225 shares during the quarter. Millennium Management LLC owned approximately 0.37% of Cousins Properties worth $13,114,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Cousins Properties by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust's stock worth $561,412,000 after purchasing an additional 456,251 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Cousins Properties by 8.9% during the 1st quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust's stock valued at $112,377,000 after purchasing an additional 399,468 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Cousins Properties by 49.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,781,184 shares of the real estate investment trust's stock worth $67,722,000 after purchasing an additional 916,508 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Cousins Properties by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,214,595 shares of the real estate investment trust's stock worth $51,266,000 after buying an additional 98,222 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Cousins Properties by 75.6% during the first quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust's stock valued at $46,107,000 after buying an additional 825,547 shares in the last quarter. Institutional investors and hedge funds own 94.38% of the company's stock.

Cousins Properties Stock Performance

CUZ stock traded down $0.31 during midday trading on Monday, hitting $28.62. The stock had a trading volume of 725,923 shares, compared to its average volume of 1,332,657. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 58.41, a P/E/G ratio of 4.90 and a beta of 1.30. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The stock has a 50-day simple moving average of $28.21 and a 200 day simple moving average of $25.01. Cousins Properties Incorporated has a 52 week low of $17.40 and a 52 week high of $30.50.

Cousins Properties (NYSE:CUZ - Get Free Report) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.61). The business had revenue of $212.98 million during the quarter, compared to the consensus estimate of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business's revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.75 EPS. As a group, equities research analysts anticipate 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 will be paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Thursday, October 3rd. Cousins Properties's dividend payout ratio (DPR) is 261.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CUZ shares. Truist Financial boosted their target price on Cousins Properties from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Evercore ISI upped their price objective on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an "in-line" rating in a report on Monday, September 16th. Robert W. Baird lifted 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 upped their price target on shares of Cousins Properties from $25.00 to $30.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company boosted their price objective on Cousins Properties from $26.00 to $31.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cousins Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.29.

Insider Buying and Selling at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the sale, the chief accounting officer now directly owns 12,529 shares of the company's stock, valued at approximately $352,440.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.40% of the company's stock.

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.