M&T Bank Corp Boosts Stock Position in Cousins Properties Incorporated (NYSE:CUZ)

M&T Bank Corp lifted its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 57,779 shares of the real estate investment trust’s stock after buying an additional 870 shares during the period. M&T Bank Corp’s holdings in Cousins Properties were worth $1,703,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CUZ. Duff & Phelps Investment Management Co. raised its holdings in Cousins Properties by 4.1% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,273,361 shares of the real estate investment trust’s stock worth $37,539,000 after purchasing an additional 49,937 shares in the last quarter. Dean Investment Associates LLC grew its stake in Cousins Properties by 41.9% during the 3rd quarter. Dean Investment Associates LLC now owns 57,268 shares of the real estate investment trust’s stock worth $1,688,000 after buying an additional 16,902 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Cousins Properties by 172.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 33,275 shares of the real estate investment trust’s stock valued at $981,000 after acquiring an additional 21,066 shares during the period. XTX Topco Ltd acquired a new stake in Cousins Properties in the third quarter valued at $588,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Cousins Properties in the third quarter valued at approximately $20,276,000. Institutional investors and hedge funds own 94.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Evercore ISI upped their price objective on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. StockNews.com upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Barclays lifted their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Robert W. Baird upped their price objective on shares of Cousins Properties from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company raised their target price on shares of Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.71.

Cousins Properties Price Performance

CUZ opened at $30.64 on Friday. Cousins Properties Incorporated has a 1 year low of $21.58 and a 1 year high of $32.55. The company’s 50 day simple moving average is $30.90 and its 200 day simple moving average is $27.71. The stock has a market capitalization of $4.85 billion, a PE ratio of 92.85, a P/E/G ratio of 4.02 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17.

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

Cousins Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 387.88%.

Cousins Properties Company 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.