BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stake in Cousins Properties Incorporated (NYSE:CUZ)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Cousins Properties Incorporated (NYSE:CUZ) by 297.9% in the 3rd quarter, Holdings Channel reports. The firm owned 522,712 shares of the real estate investment trust’s stock after purchasing an additional 391,348 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Cousins Properties were worth $15,409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CUZ. Blue Trust Inc. grew its stake in shares of Cousins Properties by 130.8% in the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 858 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Cousins Properties by 3,236.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,586 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Cousins Properties in the 1st quarter valued at about $43,000. Signaturefd LLC grew its position in Cousins Properties by 30.8% in the 3rd quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 651 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cousins Properties during the second quarter worth about $115,000. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Cousins Properties from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wells Fargo & Company raised their price target on shares of Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Evercore ISI upped their price objective on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Barclays lifted their target price on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Truist Financial upped their price target on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Cousins Properties has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Cousins Properties Stock Up 0.6 %

Cousins Properties stock opened at $31.72 on Friday. The stock has a market cap of $4.83 billion, a PE ratio of 96.12, a P/E/G ratio of 4.20 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s fifty day moving average is $30.40 and its two-hundred day moving average is $26.90. Cousins Properties Incorporated has a 1-year low of $19.48 and a 1-year high of $32.44.

Cousins Properties (NYSE:CUZ) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.60). The business had revenue of $209.21 million for the quarter, compared to analysts’ expectations of $212.54 million. Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. Cousins Properties’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. On average, sell-side analysts expect that Cousins Properties Incorporated will post 2.68 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is 387.88%.

Insider Buying and Selling

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This trade represents a 32.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is owned by company insiders.

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.