New York State Common Retirement Fund Has $11.60 Million Stake in Cousins Properties Incorporated (NYSE:CUZ)

Posted by Defense World Staff on Apr 20th, 2023

New York State Common Retirement Fund raised its holdings in Cousins Properties Incorporated (NYSE:CUZ – Get Rating) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 458,761 shares of the real estate investment trust’s stock after acquiring an additional 4,932 shares during the period. New York State Common Retirement Fund owned about 0.30% of Cousins Properties worth $11,602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CUZ. Asset Dedication LLC acquired a new position in Cousins Properties in the third quarter valued at about $25,000. Ellevest Inc. lifted its holdings in shares of Cousins Properties by 8,100.0% in the third quarter. Ellevest Inc. now owns 1,148 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,134 shares in the last quarter. CWM LLC lifted its holdings in shares of Cousins Properties by 461.1% in the third quarter. CWM LLC now owns 1,285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,056 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Cousins Properties by 441.6% in the fourth quarter. Fifth Third Bancorp now owns 1,419 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Cousins Properties in the first quarter valued at about $39,000. 97.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cousins Properties

In other Cousins Properties news, EVP John S. Mccoll sold 36,975 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $24.93, for a total value of $921,786.75. Following the sale, the executive vice president now owns 30,814 shares in the company, valued at $768,193.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Cousins Properties Price Performance

NYSE:CUZ opened at $21.73 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $22.65 and its two-hundred day moving average price is $24.10. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 2.28 and a beta of 1.12. Cousins Properties Incorporated has a 12-month low of $18.06 and a 12-month high of $40.15.

Cousins Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Wednesday, April 5th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, April 4th. This represents a $1.28 annualized dividend and a yield of 5.89%. Cousins Properties’s dividend payout ratio is 115.32%.

Analysts Set New Price Targets

CUZ has been the topic of a number of research reports. StockNews.com initiated coverage on Cousins Properties in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Barclays cut their price target on Cousins Properties from $36.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, March 24th. Evercore ISI dropped their target price on Cousins Properties from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, March 27th. Robert W. Baird upped their target price on Cousins Properties from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, February 14th. Finally, BMO Capital Markets dropped their target price on Cousins Properties from $28.00 to $24.00 in a report on Monday, March 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.63.

About Cousins Properties

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Cousins Properties, Inc engages in the development, acquisition, leasing and management of real estate assets. It invests in urban office towers located in Sunbelt markets. The company was founded by Thomas G. Cousins in 1958 and is headquartered in Atlanta, GA.