Raymond James & Associates Sells 24,252 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Raymond James & Associates reduced its position in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 9.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,829 shares of the real estate investment trust's stock after selling 24,252 shares during the period. Raymond James & Associates owned 0.15% of Cousins Properties worth $6,687,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in Cousins Properties by 0.6% in the first quarter. State of Alaska Department of Revenue now owns 88,588 shares of the real estate investment trust's stock worth $2,128,000 after buying an additional 486 shares in the last quarter. Retirement Systems of Alabama raised its stake in Cousins Properties by 0.3% in the first quarter. Retirement Systems of Alabama now owns 190,589 shares of the real estate investment trust's stock worth $4,582,000 after buying an additional 498 shares in the last quarter. Federated Hermes Inc. raised its stake in Cousins Properties by 2.2% in the second quarter. Federated Hermes Inc. now owns 23,534 shares of the real estate investment trust's stock worth $545,000 after buying an additional 501 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Cousins Properties by 5.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,952 shares of the real estate investment trust's stock valued at $369,000 after purchasing an additional 769 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in shares of Cousins Properties by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 133,620 shares of the real estate investment trust's stock valued at $3,093,000 after purchasing an additional 790 shares in the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the sale, the chief accounting officer now directly owns 12,529 shares in the company, valued at $352,440.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company's stock.

Cousins Properties Price Performance

Shares of CUZ stock traded down $0.43 on Thursday, hitting $30.63. 1,338,527 shares of the stock traded hands, compared to its average volume of 1,299,243. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 93.15, a PEG ratio of 4.41 and a beta of 1.30. Cousins Properties Incorporated has a 52 week low of $17.59 and a 52 week high of $32.17. The firm has a 50 day simple moving average of $29.47 and a two-hundred day simple moving average of $25.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03.

Cousins Properties (NYSE:CUZ - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.60). The company had revenue of $209.21 million during the quarter, compared to the consensus estimate of $212.54 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, equities research analysts predict that Cousins Properties Incorporated will post 2.67 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were issued a $0.32 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.18%. Cousins Properties's dividend payout ratio is currently 387.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CUZ. Robert W. Baird raised 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. Truist Financial raised their target price on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Barclays lifted their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Evercore ISI lifted their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company lifted their price target on shares of Cousins Properties from $26.00 to $31.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.67.

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.