Rush Island Management LP Buys Shares of 1,573,716 Cousins Properties Incorporated (NYSE:CUZ)

Rush Island Management LP bought a new stake in Cousins Properties Incorporated (NYSE:CUZ) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,573,716 shares of the real estate investment trust’s stock, valued at approximately $46,393,000. Cousins Properties accounts for approximately 3.6% of Rush Island Management LP’s holdings, making the stock its 11th largest holding.

Other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC increased its holdings in shares of Cousins Properties by 49.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,319 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 438 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Cousins Properties by 2.2% in the 2nd quarter. Federated Hermes Inc. now owns 23,534 shares of the real estate investment trust’s stock valued at $545,000 after acquiring an additional 501 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Cousins Properties by 30.8% in the 3rd quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 651 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Cousins Properties by 0.6% in the 2nd 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 acquiring an additional 790 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Cousins Properties by 130.8% in the 2nd quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 858 shares during the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was 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 directly owns 12,529 shares in the company, valued at approximately $352,440.77. This trade represents a 32.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Cousins Properties Trading Down 0.4 %

Shares of CUZ stock opened at $30.75 on Thursday. The stock has a 50-day simple moving average of $30.72 and a 200 day simple moving average of $27.36. Cousins Properties Incorporated has a fifty-two week low of $21.58 and a fifty-two week high of $32.55. The stock has a market capitalization of $4.68 billion, a P/E ratio of 93.18, a P/E/G ratio of 4.17 and a beta of 1.29. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.60.

Cousins Properties (NYSE:CUZ) last released 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 analyst estimates of $212.54 million. During the same quarter last year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Cousins Properties Incorporated will post 2.68 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.16%. Cousins Properties’s payout ratio is presently 387.88%.

Analysts Set New Price Targets

A number of brokerages recently commented on CUZ. Truist Financial upped their price objective on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. BMO Capital Markets downgraded Cousins Properties from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $31.00 to $32.00 in a research note on Tuesday. Wells Fargo & Company upped their price objective on Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Robert W. Baird upped their price objective on Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.57.

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.