Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 3,284.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 579,280 shares of the real estate investment trust’s stock after buying an additional 562,165 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Cousins Properties were worth $5,091,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Paragon Capital Management Ltd raised its stake in Cousins Properties by 51.6% in the second quarter. Paragon Capital Management Ltd now owns 29,435 shares of the real estate investment trust’s stock worth $259,000 after buying an additional 10,013 shares during the period. ING Groep NV bought a new stake in Cousins Properties during the second quarter worth about $448,000. Russell Investments Group Ltd. raised its stake in Cousins Properties by 8.0% in the second quarter. Russell Investments Group Ltd. now owns 3,324,654 shares of the real estate investment trust’s stock worth $29,222,000 after buying an additional 246,229 shares during the period. First Midwest Bank Trust Division raised its stake in Cousins Properties by 3.7% in the second quarter. First Midwest Bank Trust Division now owns 55,333 shares of the real estate investment trust’s stock worth $486,000 after buying an additional 1,969 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its stake in Cousins Properties by 83.8% in the second quarter. Quantitative Systematic Strategies LLC now owns 102,483 shares of the real estate investment trust’s stock worth $900,000 after buying an additional 46,730 shares during the period.
Shares of Cousins Properties Incorporated (NYSE CUZ) opened at 9.00 on Monday. The stock has a 50 day moving average price of $8.89 and a 200-day moving average price of $8.55. Cousins Properties Incorporated has a 52-week low of $7.09 and a 52-week high of $11.40. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 45.23 and a beta of 1.06.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Cousins Properties had a return on equity of 9.37% and a net margin of 49.99%. The firm had revenue of $119 million during the quarter, compared to the consensus estimate of $114.68 million. During the same period in the previous year, the firm posted $0.21 EPS. The company’s quarterly revenue was up 146.4% compared to the same quarter last year. On average, equities research analysts predict that Cousins Properties Incorporated will post $0.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Monday, July 3rd were given a dividend of $0.06 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.24 annualized dividend and a dividend yield of 2.67%. Cousins Properties’s dividend payout ratio is currently 42.11%.
WARNING: “Sumitomo Mitsui Asset Management Company LTD Has $5.09 Million Position in Cousins Properties Incorporated (NYSE:CUZ)” was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://stocknewstimes.com/2017/07/31/sumitomo-mitsui-asset-management-company-ltd-has-5-09-million-position-in-cousins-properties-incorporated-nysecuz.html.
A number of research firms have recently issued reports on CUZ. BidaskClub lowered Cousins Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Wednesday, July 5th. ValuEngine lowered Cousins Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Robert W. Baird upgraded Cousins Properties from a “neutral” rating to an “outperform” rating and upped their price target for the company from $9.00 to $10.00 in a research report on Tuesday, May 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Cousins Properties currently has a consensus rating of “Hold” and an average target price of $9.33.
In related news, Director Lillian C. Giornelli sold 5,006 shares of Cousins Properties stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $8.38, for a total transaction of $41,950.28. Following the completion of the transaction, the director now directly owns 102,307 shares in the company, valued at approximately $857,332.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.14% of the company’s stock.
About Cousins Properties
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.
Want to see what other hedge funds are holding CUZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cousins Properties Incorporated (NYSE:CUZ).
Receive News & Ratings for Cousins Properties Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cousins Properties Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
