First Quadrant L P CA Has $116,000 Position in Cousins Properties Inc. (CUZ)
First Quadrant L P CA decreased its stake in Cousins Properties Inc. (NYSE:CUZ) by 59.9% during the second quarter, Holdings Channel reports. The fund owned 11,200 shares of the real estate investment trust’s stock after selling 16,700 shares during the period. First Quadrant L P CA’s holdings in Cousins Properties were worth $116,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Menta Capital LLC acquired a new position in Cousins Properties during the first quarter valued at $924,000. Palisade Capital Management LLC NJ increased its position in Cousins Properties by 18.0% in the first quarter. Palisade Capital Management LLC NJ now owns 1,331,183 shares of the real estate investment trust’s stock valued at $13,818,000 after buying an additional 203,331 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Cousins Properties during the first quarter valued at $850,000. JPMorgan Chase & Co. increased its position in Cousins Properties by 12.6% in the first quarter. JPMorgan Chase & Co. now owns 1,313,773 shares of the real estate investment trust’s stock valued at $13,636,000 after buying an additional 147,414 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Cousins Properties by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,800,366 shares of the real estate investment trust’s stock valued at $80,968,000 after buying an additional 79,193 shares during the last quarter. Hedge funds and other institutional investors own 99.72% of the company’s stock.
Shares of Cousins Properties Inc. (NYSE:CUZ) traded down 0.28% during mid-day trading on Friday, hitting $10.83. 4,979,092 shares of the stock traded hands. The company has a market capitalization of $2.28 billion, a PE ratio of 16.36 and a beta of 1.26. The company’s 50-day moving average price is $10.70 and its 200 day moving average price is $10.46. Cousins Properties Inc. has a 1-year low of $7.53 and a 1-year high of $11.40.
Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.01. The company earned $92.70 million during the quarter, compared to the consensus estimate of $89.52 million. Cousins Properties had a net margin of 37.51% and a return on equity of 8.41%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. Equities research analysts forecast that Cousins Properties Inc. will post $0.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Friday, August 19th. Cousins Properties’s dividend payout ratio (DPR) is currently 47.76%.
Several 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 $12.00 price objective on the stock in a report on Wednesday, July 27th. Robert W. Baird downgraded shares of Cousins Properties from an “outperform” rating to a “neutral” rating and set a $11.00 target price for the company. in a report on Wednesday, August 17th.
Cousins Properties Company Profile
Cousins Properties Incorporated (Cousins) is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on development, acquisition, leasing and property management. The Company’s investment strategy is to purchase Class A office assets or locate opportunistic development or redevelopment projects in its core markets to which it can add value through relationships, capital, or market expertise.
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