Picton Mahoney Asset Management Makes New Investment in Cousins Properties Incorporated (NYSE:CUZ)

Picton Mahoney Asset Management bought a new stake in shares of Cousins Properties Incorporated (NYSE:CUZ) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,004 shares of the real estate investment trust’s stock, valued at approximately $413,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PARK CIRCLE Co purchased a new position in Cousins Properties during the 3rd quarter valued at $31,000. Cetera Trust Company N.A purchased a new position in shares of Cousins Properties during the fourth quarter valued at about $156,000. Van Lanschot Kempen Investment Management N.V. bought a new position in Cousins Properties in the third quarter worth about $173,000. Spirit of America Management Corp NY raised its stake in Cousins Properties by 750.0% in the fourth quarter. Spirit of America Management Corp NY now owns 8,500 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 7,500 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in Cousins Properties in the fourth quarter worth about $224,000. Institutional investors own 94.38% of the company’s stock.

Insider Buying and Selling

In other Cousins Properties news, CFO Gregg D. Adzema sold 71,097 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total transaction of $1,657,271.07. Following the sale, the chief financial officer now directly owns 85,872 shares in the company, valued at approximately $2,001,676.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial decreased their target price on Cousins Properties from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. StockNews.com downgraded Cousins Properties from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Barclays dropped their target price on shares of Cousins Properties from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Three investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.67.

Cousins Properties Trading Down 0.3 %

Cousins Properties stock opened at $23.65 on Thursday. Cousins Properties Incorporated has a 12 month low of $17.40 and a 12 month high of $25.19. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 48.27, a price-to-earnings-growth ratio of 5.06 and a beta of 1.27. The business’s fifty day simple moving average is $23.11 and its two-hundred day simple moving average is $22.42. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.57.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.54). The firm had revenue of $209.20 million during the quarter, compared to the consensus estimate of $199.35 million. Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, equities analysts predict that Cousins Properties Incorporated will post 2.63 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, April 4th were issued a $0.32 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 5.41%. Cousins Properties’s payout ratio is currently 261.22%.

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.