BlackRock Inc. reduced its position in shares of Cousins Properties Inc (NYSE:CUZ) by 71.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,503,747 shares of the real estate investment trust’s stock after selling 43,346,782 shares during the period. BlackRock Inc. owned 11.93% of Cousins Properties worth $633,111,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Pflug Koory LLC purchased a new stake in shares of Cousins Properties during the second quarter worth about $25,000. Edge Wealth Management LLC purchased a new stake in Cousins Properties in the second quarter worth about $26,000. Creative Financial Designs Inc. ADV purchased a new stake in Cousins Properties in the second quarter worth about $26,000. Legacy Bridge LLC purchased a new stake in Cousins Properties in the second quarter worth about $36,000. Finally, Hanson McClain Inc. purchased a new stake in Cousins Properties in the second quarter worth about $41,000. Institutional investors own 93.93% of the company’s stock.
CUZ has been the subject of several research analyst reports. ValuEngine lowered shares of Cousins Properties from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Cousins Properties from a “hold” rating to a “sell” rating and set a $39.00 price objective for the company. in a report on Thursday, September 12th. Stifel Nicolaus set a $42.00 price objective on shares of Cousins Properties and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Wells Fargo & Co upgraded shares of Cousins Properties from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $38.00 to $42.00 in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Cousins Properties has an average rating of “Hold” and an average price target of $33.50.
Shares of CUZ opened at $39.81 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.64 and a quick ratio of 0.64. Cousins Properties Inc has a one year low of $30.12 and a one year high of $40.81. The company has a 50-day simple moving average of $37.97 and a two-hundred day simple moving average of $28.90. The firm has a market capitalization of $5.84 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 3.68 and a beta of 0.89.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.55). Cousins Properties had a return on equity of 1.55% and a net margin of 9.50%. The company had revenue of $180.83 million during the quarter, compared to analysts’ expectations of $174.03 million. During the same quarter last year, the business earned $0.15 earnings per share. The business’s quarterly revenue was up 56.3% on a year-over-year basis. Analysts expect that Cousins Properties Inc will post 2.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.16 annualized dividend and a dividend yield of 2.91%. Cousins Properties’s payout ratio is 46.03%.
Cousins Properties Profile
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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