Principal Financial Group Inc. Has $357.91 Million Stake in Cousins Properties Incorporated (NYSE:CUZ)

Principal Financial Group Inc. increased its position in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,140,948 shares of the real estate investment trust's stock after buying an additional 458,387 shares during the period. Principal Financial Group Inc. owned 7.98% of Cousins Properties worth $357,910,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB bought a new position in Cousins Properties in the 1st quarter worth approximately $14,306,000. Vanguard Group Inc. grew its stake in shares of Cousins Properties by 2.0% in the first quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust's stock worth $561,412,000 after acquiring an additional 456,251 shares during the last quarter. Marshall Wace LLP increased its position in Cousins Properties by 92.8% during the second quarter. Marshall Wace LLP now owns 853,456 shares of the real estate investment trust's stock worth $19,758,000 after acquiring an additional 410,726 shares during the period. Centersquare Investment Management LLC raised its stake in 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 during the last quarter. Finally, LSV Asset Management boosted its holdings in Cousins Properties by 37.9% in the 2nd quarter. LSV Asset Management now owns 849,927 shares of the real estate investment trust's stock valued at $19,676,000 after purchasing an additional 233,744 shares during the period. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Cousins Properties Price Performance

NYSE CUZ traded up $0.15 during trading on Thursday, reaching $31.58. 990,514 shares of the company traded hands, compared to its average volume of 1,297,730. Cousins Properties Incorporated has a 1-year low of $17.85 and a 1-year high of $32.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The stock's 50 day moving average price is $29.75 and its two-hundred day moving average price is $26.25. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 96.24, a P/E/G ratio of 4.67 and a beta of 1.29.

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 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.60). Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The company had revenue of $209.21 million during the quarter, compared to analyst estimates of $212.54 million. During the same period in the prior year, the firm earned $0.65 EPS. Cousins Properties's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Cousins Properties Incorporated will post 2.67 EPS for the current year.

Cousins Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties's dividend payout ratio (DPR) is currently 387.88%.

Insider Activity at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares of the company's stock, valued at approximately $352,440.77. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CUZ has been the topic of several research reports. StockNews.com upgraded shares of Cousins Properties from a "sell" rating to a "hold" rating in a report on Monday. Truist Financial boosted their price target on Cousins Properties from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Evercore ISI raised their price objective on Cousins Properties from $29.00 to $30.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Robert W. Baird lifted their price objective on Cousins Properties from $31.00 to $33.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Wells Fargo & Company upped their target price on Cousins Properties from $31.00 to $34.00 and gave the company an "overweight" rating in a research note on Monday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cousins Properties presently has an average rating of "Moderate Buy" and an average target price of $31.50.

Cousins Properties 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.