Public Employees Retirement System of Ohio decreased its position in shares of Cousins Properties Incorporated (NYSE:CUZ – Free Report) by 13.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 243,861 shares of the real estate investment trust’s stock after selling 38,844 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Cousins Properties were worth $5,504,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of Cousins Properties by 128.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 692 shares during the last quarter. Avalon Trust Co purchased a new position in Cousins Properties during the 1st quarter worth approximately $39,000. Arax Advisory Partners purchased a new position in Cousins Properties during the 4th quarter worth approximately $39,000. Clearstead Advisors LLC increased its position in Cousins Properties by 176.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,803 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,150 shares during the period. Finally, SJS Investment Consulting Inc. acquired a new position in Cousins Properties during the first quarter worth approximately $50,000. Institutional investors and hedge funds own 94.38% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CUZ. Mizuho increased their price objective on Cousins Properties from $27.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Barclays lifted their target price on shares of Cousins Properties from $28.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Cousins Properties from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings upgraded shares of Cousins Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. Finally, Wells Fargo & Company raised their price objective on shares of Cousins Properties from $28.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cousins Properties has a consensus rating of “Moderate Buy” and an average target price of $30.91.
Cousins Properties Stock Up 1.8%
Cousins Properties stock opened at $32.28 on Thursday. The stock has a 50 day moving average of $29.40 and a two-hundred day moving average of $26.10. Cousins Properties Incorporated has a twelve month low of $21.03 and a twelve month high of $32.95. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of -1,075.61, a PEG ratio of 2.33 and a beta of 1.19. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83.
Cousins Properties (NYSE:CUZ – Get Free Report) last released its earnings results on Wednesday, April 29th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.21). Cousins Properties had a negative net margin of 0.52% and a negative return on equity of 0.11%. The company had revenue of $263.11 million during the quarter, compared to analyst estimates of $256.77 million. During the same period in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts expect that Cousins Properties Incorporated will post 2.95 earnings per share for the current year.
Cousins Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Monday, July 6th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, July 6th. Cousins Properties’s dividend payout ratio (DPR) is -4,266.67%.
Cousins Properties Company Profile
Cousins Properties Incorporated (NYSE: CUZ) is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.
Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.
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