Resona Asset Management Co. Ltd. Makes New Investment in Cousins Properties Incorporated (NYSE:CUZ)

Resona Asset Management Co. Ltd. acquired a new stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 66,714 shares of the real estate investment trust's stock, valued at approximately $2,025,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its stake in shares of Cousins Properties by 1,609.3% in the fourth quarter. Jones Financial Companies Lllp now owns 923 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 869 shares during the last quarter. UMB Bank n.a. increased its position in Cousins Properties by 67.4% in the 4th quarter. UMB Bank n.a. now owns 981 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 395 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Cousins Properties by 473.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,301 shares of the real estate investment trust's stock worth $127,000 after purchasing an additional 3,551 shares in the last quarter. BankPlus Trust Department purchased a new stake in shares of Cousins Properties during the 4th quarter worth about $142,000. Finally, Assetmark Inc. lifted its holdings in shares of Cousins Properties by 15.3% during the 4th quarter. Assetmark Inc. now owns 5,995 shares of the real estate investment trust's stock valued at $184,000 after buying an additional 794 shares during the last quarter. Hedge funds and other institutional investors own 94.38% of the company's stock.

Cousins Properties Stock Performance

Shares of NYSE CUZ traded up $0.31 during trading hours on Tuesday, hitting $26.75. 162,506 shares of the company's stock were exchanged, compared to its average volume of 1,254,889. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 88.95, a PEG ratio of 2.98 and a beta of 1.24. The company's 50-day moving average price is $29.05 and its 200-day moving average price is $30.01. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.74 and a quick ratio of 0.74. Cousins Properties Incorporated has a 1-year low of $21.58 and a 1-year high of $32.55.

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

Cousins Properties Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.79%. Cousins Properties's payout ratio is 426.67%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho upgraded Cousins Properties from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $22.00 to $30.00 in a report on Tuesday, January 7th. KeyCorp upgraded shares of Cousins Properties from a "sector weight" rating to an "overweight" rating and set a $34.00 price target on the stock in a research note on Tuesday, December 17th. StockNews.com lowered shares of Cousins Properties from a "hold" rating to a "sell" rating in a research note on Wednesday, April 9th. Wolfe Research upgraded Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 target price on the stock in a report on Monday, April 7th. Finally, Truist Financial boosted their price target on Cousins Properties from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Cousins Properties has an average rating of "Moderate Buy" and an average price target of $32.70.

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.