Wellington Management Group LLP Makes New $20.28 Million Investment in Cousins Properties Incorporated (NYSE:CUZ)

Wellington Management Group LLP acquired a new position in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 687,778 shares of the real estate investment trust's stock, valued at approximately $20,276,000. Wellington Management Group LLP owned approximately 0.45% of Cousins Properties at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its position in shares of Cousins Properties by 0.6% during the third 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. Systematic Financial Management LP purchased a new stake in Cousins Properties during the third quarter valued at about $620,000. Quadrature Capital Ltd bought a new stake in shares of Cousins Properties in the 3rd quarter worth approximately $268,000. Quantinno Capital Management LP boosted its holdings in Cousins Properties by 27.5% during the 3rd quarter. Quantinno Capital Management LP now owns 164,351 shares of the real estate investment trust's stock valued at $4,845,000 after acquiring an additional 35,440 shares during the period. Finally, Quarry LP grew its holdings in Cousins Properties by 74.5% in the 3rd quarter. Quarry LP now owns 3,976 shares of the real estate investment trust's stock worth $117,000 after acquiring an additional 1,697 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CUZ. Truist Financial lifted their price target on Cousins Properties from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 30th. BMO Capital Markets downgraded shares of Cousins Properties from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $31.00 to $32.00 in a research report on Tuesday, December 3rd. Evercore ISI increased their price objective 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. Robert W. Baird boosted their price target on Cousins Properties from $33.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Barclays upped their target price on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $31.71.

Cousins Properties Trading Up 1.1 %

Shares of CUZ stock traded up $0.32 on Friday, hitting $30.64. The stock had a trading volume of 1,924,760 shares, compared to its average volume of 1,304,351. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $4.85 billion, a P/E ratio of 92.85, a P/E/G ratio of 4.02 and a beta of 1.29. The company's 50 day moving average price is $30.90 and its 200-day moving average price is $27.68. 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 announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $212.54 million. During the same period last year, the firm earned $0.65 earnings per share. Cousins Properties's revenue was up 5.2% on a year-over-year basis. Analysts anticipate that Cousins Properties Incorporated will post 2.68 earnings per share for the current year.

Cousins Properties Announces Dividend

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

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.