Cousins Properties Incorporated $CUZ Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in Cousins Properties Incorporated (NYSE:CUZ – Free Report) by 10.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,376 shares of the real estate investment trust’s stock after selling 18,652 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of Cousins Properties worth $4,405,000 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 the company. Quantinno Capital Management LP boosted its holdings in Cousins Properties by 242.5% in the 1st quarter. Quantinno Capital Management LP now owns 2,644,535 shares of the real estate investment trust’s stock worth $59,687,000 after buying an additional 1,872,319 shares during the period. Bank of New York Mellon Corp bought a new stake in Cousins Properties during the second quarter valued at about $41,743,000. Arrowstreet Capital Limited Partnership bought a new stake in Cousins Properties during the first quarter valued at about $15,237,000. Bank of America Corp DE raised its holdings in Cousins Properties by 63.5% during the first quarter. Bank of America Corp DE now owns 1,124,141 shares of the real estate investment trust’s stock valued at $25,372,000 after acquiring an additional 436,396 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of Cousins Properties by 36.4% in the first quarter. Hsbc Holdings PLC now owns 1,085,544 shares of the real estate investment trust’s stock valued at $24,508,000 after acquiring an additional 289,701 shares in the last quarter. Institutional investors own 94.38% of the company’s stock.

Insider Transactions at Cousins Properties

In related news, CAO Jeffrey Symes sold 6,033 shares of Cousins Properties stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $29.44, for a total value of $177,611.52. Following the completion of the transaction, the chief accounting officer owned 16,685 shares in the company, valued at approximately $491,206.40. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.81% of the stock is currently owned by insiders.

Cousins Properties Price Performance

Shares of NYSE:CUZ traded up $0.10 during mid-day trading on Friday, reaching $29.61. The stock had a trading volume of 1,679,365 shares, compared to its average volume of 1,450,851. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a market cap of $4.87 billion, a P/E ratio of 329.08, a price-to-earnings-growth ratio of 2.06 and a beta of 1.17. Cousins Properties Incorporated has a 1 year low of $21.03 and a 1 year high of $32.95. The business’s 50 day moving average price is $28.37 and its 200 day moving average price is $27.06.

Cousins Properties (NYSE:CUZ – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Cousins Properties had a return on equity of 0.33% and a net margin of 1.42%. The business had revenue of $259.42 million during the quarter, compared to analysts’ expectations of $264.23 million. During the same quarter last year, the business posted $0.69 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts expect that Cousins Properties Incorporated will post 2.97 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Monday, October 5th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.28 dividend on an annualized basis and a yield of 4.3%. Cousins Properties’s dividend payout ratio is presently 1,422.22%.

Analyst Ratings Changes

CUZ has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cousins Properties in a research note on Tuesday, September 22nd. Mizuho set a $34.00 target price on Cousins Properties in a research note on Tuesday, September 8th. Wall Street Zen raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Robert W. Baird upped their price target on Cousins Properties from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Finally, Barclays upped their price target on Cousins Properties from $28.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Cousins Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

View Our Latest Stock Analysis on CUZ

Cousins Properties Company Profile

(Free Report)

Cousins Properties Incorporated (NYSE: CUZ) is a self-administered and self-managed real estate investment trust that owns, develops, and manages primarily Class A office properties. The company focuses on high-quality buildings designed to serve businesses across a range of industries, with services that include property management, leasing, development, and asset operations.

Founded in 1958 by Thomas G. Cousins, the company has developed a longstanding presence in the commercial real estate industry.

See Also

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Institutional Ownership by Quarter for Cousins Properties (NYSE:CUZ)

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