VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Cousins Properties Incorporated $CUZ

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Cousins Properties Incorporated (NYSE:CUZ) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 346,490 shares of the real estate investment trust’s stock, valued at approximately $10,405,000.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Cousins Properties by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 25,753,741 shares of the real estate investment trust’s stock worth $759,735,000 after buying an additional 951,637 shares during the last quarter. Resolution Capital Ltd increased its holdings in shares of Cousins Properties by 33.5% in the 1st quarter. Resolution Capital Ltd now owns 5,886,133 shares of the real estate investment trust’s stock worth $173,641,000 after buying an additional 1,477,044 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Cousins Properties by 6.0% in the 1st quarter. Jennison Associates LLC now owns 2,334,159 shares of the real estate investment trust’s stock worth $68,858,000 after buying an additional 132,653 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Cousins Properties by 1.9% in the 1st quarter. Northern Trust Corp now owns 1,879,133 shares of the real estate investment trust’s stock worth $55,434,000 after buying an additional 35,578 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cousins Properties by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,384,847 shares of the real estate investment trust’s stock worth $40,853,000 after buying an additional 12,131 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cousins Properties news, CAO Jeffrey D. Symes sold 4,612 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $29.30, for a total value of $135,131.60. Following the transaction, the chief accounting officer directly owned 13,518 shares in the company, valued at $396,077.40. This represents a 25.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CUZ has been the topic of a number of research reports. Mizuho boosted their target price on shares of Cousins Properties from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cousins Properties in a report on Wednesday, October 8th. Evercore ISI upped their price target on shares of Cousins Properties from $31.00 to $32.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Jefferies Financial Group downgraded shares of Cousins Properties from a “buy” rating to a “hold” rating and cut their price target for the company from $34.00 to $27.00 in a report on Monday, October 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cousins Properties from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Tuesday, September 30th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.18.

Cousins Properties Price Performance

Shares of CUZ stock opened at $26.62 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.45 and a quick ratio of 2.45. The company has a market capitalization of $4.47 billion, a P/E ratio of 71.94, a P/E/G ratio of 2.42 and a beta of 1.39. The company’s 50-day simple moving average is $28.32 and its two-hundred day simple moving average is $28.21. Cousins Properties Incorporated has a one year low of $24.07 and a one year high of $32.55.

Cousins Properties (NYSE:CUZ) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The business had revenue of $237.72 million for the quarter, compared to the consensus estimate of $243.73 million. Cousins Properties had a net margin of 6.51% and a return on equity of 1.27%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. Cousins Properties has set its FY 2025 guidance at 2.790-2.850 EPS. As a group, equities analysts anticipate that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, October 3rd. Cousins Properties’s dividend payout ratio is currently 345.95%.

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.