Green Street Investors LLC purchased a new stake in Cousins Properties Inc (NYSE:CUZ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 74,000 shares of the real estate investment trust’s stock, valued at approximately $2,782,000. Cousins Properties makes up 1.6% of Green Street Investors LLC’s holdings, making the stock its 22nd largest position. Green Street Investors LLC owned 0.05% of Cousins Properties as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CUZ. Asset Dedication LLC lifted its holdings in Cousins Properties by 46.2% in the third quarter. Asset Dedication LLC now owns 1,545 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 488 shares during the period. Creative Financial Designs Inc. ADV bought a new position in shares of Cousins Properties during the 2nd quarter valued at $26,000. Pflug Koory LLC bought a new position in shares of Cousins Properties during the 2nd quarter valued at $25,000. Edge Wealth Management LLC bought a new position in shares of Cousins Properties during the 2nd quarter valued at $26,000. Finally, Comerica Bank grew its holdings in shares of Cousins Properties by 1.0% during the 3rd quarter. Comerica Bank now owns 84,309 shares of the real estate investment trust’s stock valued at $3,307,000 after purchasing an additional 861 shares during the last quarter. Institutional investors own 93.93% of the company’s stock.
Cousins Properties stock traded down $0.02 during trading hours on Friday, hitting $39.81. The stock had a trading volume of 449,318 shares, compared to its average volume of 1,620,482. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $5.84 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 3.68 and a beta of 0.89. Cousins Properties Inc has a 12-month low of $30.12 and a 12-month high of $40.81. The stock’s 50-day moving average price is $37.97 and its 200-day moving average price is $28.90.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cousins Properties’s payout ratio is presently 46.03%.
A number of brokerages have recently weighed in on CUZ. ValuEngine lowered shares of Cousins Properties from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Stifel Nicolaus set a $42.00 price target on shares of Cousins Properties and gave the company a “buy” rating in a research report on Friday, October 25th. Zacks Investment Research cut shares of Cousins Properties from a “hold” rating to a “sell” rating and set a $39.00 price target for the company. in a research report on Thursday, September 12th. Finally, Wells Fargo & Co raised shares of Cousins Properties from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $38.00 to $42.00 in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $33.50.
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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