Balyasny Asset Management L.P. Increases Stock Position in Cousins Properties Incorporated (NYSE:CUZ)

Balyasny Asset Management L.P. lifted its holdings in Cousins Properties Incorporated (NYSE:CUZFree Report) by 49.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,781,184 shares of the real estate investment trust’s stock after purchasing an additional 916,508 shares during the quarter. Balyasny Asset Management L.P. owned 1.83% of Cousins Properties worth $67,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Cousins Properties by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 29,671 shares of the real estate investment trust’s stock worth $604,000 after buying an additional 2,623 shares during the last quarter. Swiss National Bank lifted its stake in shares of Cousins Properties by 1.0% in the 3rd quarter. Swiss National Bank now owns 333,433 shares of the real estate investment trust’s stock worth $6,792,000 after purchasing an additional 3,200 shares during the period. Van ECK Associates Corp boosted its stake in shares of Cousins Properties by 13.1% during the 3rd quarter. Van ECK Associates Corp now owns 19,362 shares of the real estate investment trust’s stock worth $394,000 after acquiring an additional 2,237 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Cousins Properties by 6.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 49,399 shares of the real estate investment trust’s stock valued at $1,006,000 after acquiring an additional 2,849 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Cousins Properties by 35.9% in the 3rd quarter. HighTower Advisors LLC now owns 14,280 shares of the real estate investment trust’s stock worth $290,000 after purchasing an additional 3,773 shares in the last quarter. 94.38% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Gregg D. Adzema sold 71,097 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company’s stock.

Cousins Properties Stock Up 0.2 %

NYSE CUZ opened at $22.85 on Tuesday. Cousins Properties Incorporated has a 52 week low of $17.40 and a 52 week high of $25.19. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $23.04 and a two-hundred day moving average of $23.15. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 46.63, a PEG ratio of 3.79 and a beta of 1.28.

Cousins Properties (NYSE:CUZGet Free Report) last issued 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 business had revenue of $209.20 million for 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%. Cousins Properties’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. On average, analysts predict that Cousins Properties Incorporated will post 2.64 earnings per share for the current year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, April 4th were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.28 annualized dividend and a dividend yield of 5.60%. Cousins Properties’s dividend payout ratio is currently 261.22%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CUZ. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Barclays cut their price target on Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.67.

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About Cousins Properties

(Free Report)

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.

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Institutional Ownership by Quarter for Cousins Properties (NYSE:CUZ)

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