Sigma Planning Corp cut its position in shares of Cousins Properties Inc (NYSE:CUZ) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,838 shares of the real estate investment trust’s stock after selling 857 shares during the period. Sigma Planning Corp’s holdings in Cousins Properties were worth $483,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of CUZ. Asset Dedication LLC raised its stake in shares of Cousins Properties by 46.2% in the 3rd quarter. Asset Dedication LLC now owns 1,545 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 488 shares during the period. Creative Financial Designs Inc. ADV purchased a new stake in shares of Cousins Properties in the 2nd quarter valued at approximately $26,000. Pflug Koory LLC purchased a new stake in shares of Cousins Properties in the 2nd quarter valued at approximately $25,000. Edge Wealth Management LLC purchased a new stake in shares of Cousins Properties in the 2nd quarter valued at approximately $26,000. Finally, Comerica Bank raised its stake in shares of Cousins Properties by 1.0% in the 3rd quarter. Comerica Bank now owns 84,309 shares of the real estate investment trust’s stock valued at $3,307,000 after acquiring an additional 861 shares during the period. 93.93% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on CUZ. Stifel Nicolaus set a $42.00 price target on shares of Cousins Properties and gave the company a “buy” rating in a research note on Friday, October 25th. Zacks Investment Research downgraded shares of Cousins Properties from a “hold” rating to a “sell” rating and set a $39.00 price target on the stock. in a research note on Thursday, September 12th. Wells Fargo & Co raised shares of Cousins Properties from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $38.00 to $42.00 in a research note on Thursday, September 19th. Finally, ValuEngine downgraded shares of Cousins Properties from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $33.50.
Shares of Cousins Properties stock traded down $0.02 on Friday, reaching $39.81. The company had a trading volume of 449,318 shares, compared to its average volume of 1,620,482. The firm’s 50 day moving average price is $37.97 and its two-hundred day moving average price is $28.90. The firm has a market cap of $5.84 billion, a PE ratio of 15.80, a PEG ratio of 3.68 and a beta of 0.89. Cousins Properties Inc has a 52-week low of $30.12 and a 52-week high of $40.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.64 and a current ratio of 0.64.
Cousins Properties (NYSE:CUZ) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the 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 business had revenue of $180.83 million for the quarter, compared to analysts’ expectations of $174.03 million. During the same period in the previous year, the company earned $0.15 earnings per share. Cousins Properties’s quarterly revenue was up 56.3% on a year-over-year basis. As a group, sell-side analysts predict that Cousins Properties Inc will post 2.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cousins Properties’s payout ratio is currently 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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