Sumitomo Mitsui Asset Management Company LTD cut its position in Cousins Properties Incorporated (NYSE:CUZ) by 24.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,121 shares of the real estate investment trust’s stock after selling 140,159 shares during the period. Sumitomo Mitsui Asset Management Company LTD owned 0.10% of Cousins Properties worth $4,101,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Oakbrook Investments LLC grew its stake in shares of Cousins Properties by 2.0% in the 2nd quarter. Oakbrook Investments LLC now owns 15,500 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 300 shares during the period. Amalgamated Bank grew its stake in shares of Cousins Properties by 2.4% in the 1st quarter. Amalgamated Bank now owns 48,695 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 1,134 shares during the period. World Asset Management Inc grew its stake in shares of Cousins Properties by 5.0% in the 2nd quarter. World Asset Management Inc now owns 26,474 shares of the real estate investment trust’s stock valued at $233,000 after buying an additional 1,265 shares during the period. First Midwest Bank Trust Division grew its stake in shares of Cousins Properties by 3.7% in the 2nd quarter. First Midwest Bank Trust Division now owns 55,333 shares of the real estate investment trust’s stock valued at $486,000 after buying an additional 1,969 shares during the period. Finally, Great West Life Assurance Co. Can grew its stake in shares of Cousins Properties by 0.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 452,565 shares of the real estate investment trust’s stock valued at $3,973,000 after buying an additional 2,260 shares during the period.
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Several brokerages have recently commented on CUZ. BidaskClub upgraded Cousins Properties from a “hold” rating to a “buy” rating in a research note on Monday, August 14th. Stifel Nicolaus upgraded Cousins Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $8.50 to $10.50 in a research note on Tuesday, August 1st. Bank of America Corporation raised their target price on Cousins Properties from $9.50 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, October 3rd. Zacks Investment Research downgraded Cousins Properties from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Finally, SunTrust Banks, Inc. restated a “buy” rating and issued a $10.00 target price on shares of Cousins Properties in a research note on Monday, October 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Cousins Properties currently has a consensus rating of “Buy” and a consensus price target of $10.10.
Cousins Properties (NYSE:CUZ) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.12). The business had revenue of $113.20 million during the quarter, compared to analysts’ expectations of $113.51 million. Cousins Properties had a return on equity of 8.39% and a net margin of 48.08%. Cousins Properties’s revenue for the quarter was up 132.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Monday, October 2nd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Friday, September 29th. Cousins Properties’s dividend payout ratio (DPR) is presently 44.44%.
Cousins Properties 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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