DekaBank Deutsche Girozentrale Reduces Stake in Cousins Properties Incorporated (NYSE:CUZ)

DekaBank Deutsche Girozentrale lowered its stake in Cousins Properties Incorporated (NYSE:CUZ) by 4.5% in the 2nd quarter, Holdings Channel reports. The firm owned 34,883 shares of the real estate investment trust’s stock after selling 1,626 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Cousins Properties were worth $778,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CUZ. Vanguard Group Inc. boosted its position in shares of Cousins Properties by 2.0% in the first quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock valued at $561,412,000 after acquiring an additional 456,251 shares during the period. Centersquare Investment Management LLC lifted its stake in Cousins Properties by 8.9% in the 1st quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust’s stock worth $112,377,000 after purchasing an additional 399,468 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of Cousins Properties by 49.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,781,184 shares of the real estate investment trust’s stock valued at $67,722,000 after purchasing an additional 916,508 shares in the last quarter. Jennison Associates LLC grew its position in shares of Cousins Properties by 75.6% during the 1st quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust’s stock valued at $46,107,000 after purchasing an additional 825,547 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cousins Properties by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 1,677,240 shares of the real estate investment trust’s stock worth $38,828,000 after purchasing an additional 28,554 shares during the period. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Trading Up 0.9 %

CUZ stock opened at $29.41 on Friday. The company has a market capitalization of $4.47 billion, a PE ratio of 60.02, a price-to-earnings-growth ratio of 4.73 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. Cousins Properties Incorporated has a one year low of $17.40 and a one year high of $29.77. The company’s 50 day moving average price is $27.22 and its two-hundred day moving average price is $24.53.

Cousins Properties (NYSE:CUZ) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The business had revenue of $212.98 million during the quarter, compared to analysts’ expectations of $208.18 million. During the same quarter in the previous year, the business earned $2.75 EPS. Cousins Properties’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts predict that Cousins Properties Incorporated will post 2.67 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.28 annualized dividend and a yield of 4.35%. Cousins Properties’s payout ratio is 261.22%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CUZ shares. Barclays boosted their target price on Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI upped their price objective on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday. Robert W. Baird lifted their target price on shares of Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Truist Financial raised their price objective on shares of Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.29.

Insiders Place Their Bets

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at $352,440.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

About Cousins Properties

Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.