Sumitomo Mitsui Trust Group Inc. Decreases Stake in Cousins Properties Incorporated (NYSE:CUZ)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 39.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 477,144 shares of the real estate investment trust's stock after selling 304,803 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.30% of Cousins Properties worth $14,620,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Principal Financial Group Inc. grew its position in Cousins Properties by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 12,140,948 shares of the real estate investment trust's stock worth $357,910,000 after purchasing an additional 458,387 shares during the last quarter. State Street Corp boosted its holdings in shares of Cousins Properties by 0.6% in the 3rd quarter. State Street Corp now owns 7,606,870 shares of the real estate investment trust's stock valued at $224,251,000 after acquiring an additional 48,668 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cousins Properties by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,864,177 shares of the real estate investment trust's stock valued at $84,457,000 after acquiring an additional 36,727 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cousins Properties by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,488,358 shares of the real estate investment trust's stock valued at $73,357,000 after acquiring an additional 82,521 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Cousins Properties by 3,768.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,337,416 shares of the real estate investment trust's stock valued at $68,907,000 after acquiring an additional 2,276,986 shares during the last quarter. Hedge funds and other institutional investors own 94.38% of the company's stock.

Cousins Properties Price Performance

NYSE:CUZ traded down $0.60 during trading hours on Friday, reaching $29.93. 1,144,073 shares of the company were exchanged, compared to its average volume of 1,031,112. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The stock's 50-day moving average is $30.30 and its 200-day moving average is $29.83. The firm has a market cap of $4.73 billion, a PE ratio of 99.75, a price-to-earnings-growth ratio of 3.95 and a beta of 1.29. Cousins Properties Incorporated has a twelve month low of $21.58 and a twelve month 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, topping analysts' consensus estimates of $0.07 by $0.62. Cousins Properties had a net margin of 5.36% and a return on equity of 1.03%. On average, sell-side analysts anticipate that Cousins Properties Incorporated will post 2.73 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, January 3rd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date was Friday, January 3rd. Cousins Properties's dividend payout ratio is presently 426.67%.

Analyst Ratings Changes

Several research firms have recently commented on CUZ. Barclays dropped their price objective on shares of Cousins Properties from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company upped their price objective on shares of Cousins Properties from $31.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Robert W. Baird upped their price objective on shares of Cousins Properties from $33.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, December 12th. Truist Financial increased their price target on shares of Cousins Properties from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Mizuho raised shares of Cousins Properties from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $22.00 to $30.00 in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.11.

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.