Jennison Associates LLC Purchases 379,134 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Jennison Associates LLC raised its stake in Cousins Properties Incorporated (NYSE:CUZ) by 53.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,092,361 shares of the real estate investment trust’s stock after buying an additional 379,134 shares during the period. Jennison Associates LLC owned about 0.72% of Cousins Properties worth $26,599,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. PARK CIRCLE Co bought a new position in shares of Cousins Properties in the 3rd quarter worth $31,000. Cetera Trust Company N.A bought a new position in shares of Cousins Properties during the 4th quarter valued at $156,000. Van Lanschot Kempen Investment Management N.V. bought a new position in shares of Cousins Properties during the 3rd quarter valued at $173,000. Spirit of America Management Corp NY grew its holdings in shares of Cousins Properties by 750.0% during the 4th quarter. Spirit of America Management Corp NY now owns 8,500 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 7,500 shares during the last quarter. Finally, United Services Automobile Association grew its holdings in shares of Cousins Properties by 23.9% during the 3rd quarter. United Services Automobile Association now owns 13,158 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 2,536 shares during the last quarter. Institutional investors own 94.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CUZ shares. Barclays dropped their price target on shares of Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Finally, Truist Financial dropped their price target on shares of Cousins Properties from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.67.

Cousins Properties Trading Up 1.9 %

NYSE:CUZ opened at $23.12 on Thursday. The company has a 50-day moving average price of $23.07 and a 200-day moving average price of $22.12. Cousins Properties Incorporated has a 12 month low of $17.40 and a 12 month high of $25.19. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 42.04, a P/E/G ratio of 6.13 and a beta of 1.27.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.53). Cousins Properties had a net margin of 10.33% and a return on equity of 1.81%. The business had revenue of $197.00 million for the quarter, compared to analysts’ expectations of $198.47 million. During the same period last year, the business earned $0.66 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts predict that Cousins Properties Incorporated will post 2.61 EPS for the current year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, April 4th were given a dividend of $0.32 per share. The ex-dividend date was Wednesday, April 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 5.54%. Cousins Properties’s dividend payout ratio (DPR) is currently 232.73%.

Cousins Properties 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.