Millennium Management LLC Acquires 511,364 Shares of Cousins Properties Inc (CUZ)
Millennium Management LLC boosted its holdings in shares of Cousins Properties Inc (NYSE:CUZ) by 92.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,062,072 shares of the real estate investment trust’s stock after acquiring an additional 511,364 shares during the quarter. Millennium Management LLC owned approximately 0.25% of Cousins Properties worth $8,390,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Cousins Properties by 0.4% during the third quarter. Vanguard Group Inc. now owns 62,027,124 shares of the real estate investment trust’s stock worth $551,421,000 after acquiring an additional 262,602 shares during the period. Vanguard Group Inc boosted its stake in Cousins Properties by 0.4% during the third quarter. Vanguard Group Inc now owns 62,027,124 shares of the real estate investment trust’s stock worth $551,421,000 after buying an additional 262,602 shares in the last quarter. BlackRock Inc. boosted its stake in Cousins Properties by 2.0% during the fourth quarter. BlackRock Inc. now owns 61,661,774 shares of the real estate investment trust’s stock worth $487,127,000 after buying an additional 1,211,932 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Cousins Properties by 19.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 12,617,044 shares of the real estate investment trust’s stock worth $99,674,000 after buying an additional 2,043,132 shares in the last quarter. Finally, Brookfield Asset Management Inc. boosted its stake in Cousins Properties by 22.1% during the third quarter. Brookfield Asset Management Inc. now owns 11,788,702 shares of the real estate investment trust’s stock worth $104,802,000 after buying an additional 2,132,502 shares in the last quarter.
CUZ opened at $9.53 on Wednesday. Cousins Properties Inc has a fifty-two week low of $7.53 and a fifty-two week high of $10.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 3.93 and a beta of 1.00.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be paid a dividend of $0.0725 per share. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.29 dividend on an annualized basis and a yield of 3.04%. This is an increase from Cousins Properties’s previous quarterly dividend of $0.07. Cousins Properties’s payout ratio is currently 46.03%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, March 7th. Bank of America set a $11.00 price target on shares of Cousins Properties and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $10.38.
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About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.
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