Fmr LLC Sells 9,149,849 Shares of Cousins Properties Incorporated (CUZ)
Fmr LLC lowered its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 25.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,489,896 shares of the real estate investment trust’s stock after selling 9,149,849 shares during the quarter. Fmr LLC owned 6.55% of Cousins Properties worth $241,637,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. World Asset Management Inc grew its stake in shares of Cousins Properties by 21.5% in the 1st quarter. World Asset Management Inc now owns 25,209 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 4,459 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Cousins Properties by 27.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 677,467 shares of the real estate investment trust’s stock valued at $5,603,000 after buying an additional 144,447 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Cousins Properties during the 1st quarter valued at about $1,005,000. Ameriprise Financial Inc. raised its position in shares of Cousins Properties by 6.8% during the 1st quarter. Ameriprise Financial Inc. now owns 1,801,998 shares of the real estate investment trust’s stock valued at $14,902,000 after buying an additional 115,249 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Cousins Properties by 120.9% during the 1st quarter. Parametric Portfolio Associates LLC now owns 608,266 shares of the real estate investment trust’s stock valued at $5,030,000 after buying an additional 332,910 shares in the last quarter.
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Cousins Properties Incorporated (NYSE:CUZ) opened at 9.34 on Monday. Cousins Properties Incorporated has a 1-year low of $7.09 and a 1-year high of $10.57. The firm’s 50-day moving average is $9.22 and its 200 day moving average is $8.73. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 14.99 and a beta of 1.06.
Cousins Properties (NYSE:CUZ) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Cousins Properties had a return on equity of 9.37% and a net margin of 49.99%. The business had revenue of $119.00 million during the quarter, compared to the consensus estimate of $114.68 million. During the same period last year, the company earned $0.21 EPS. The company’s revenue for the quarter was up 146.4% on a year-over-year basis. Equities analysts anticipate that Cousins Properties Incorporated will post $0.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Monday, October 2nd will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, September 29th. Cousins Properties’s dividend payout ratio is currently 42.11%.
A number of research analysts recently commented on CUZ shares. Stifel Nicolaus raised shares of Cousins Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $8.50 to $10.50 in a report on Tuesday, August 1st. BidaskClub upgraded Cousins Properties from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. Finally, Zacks Investment Research upgraded Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Wednesday, July 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $10.17.
Cousins Properties Company Profile
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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