Duff & Phelps Investment Management Co. raised its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 13.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,625,094 shares of the real estate investment trust’s stock after buying an additional 552,600 shares during the period. Duff & Phelps Investment Management Co. owned 1.10% of Cousins Properties worth $40,655,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Oakbrook Investments LLC boosted its position in shares of Cousins Properties by 2.0% in the second quarter. Oakbrook Investments LLC now owns 15,500 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 300 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Cousins Properties by 2.0% in the first quarter. Capstone Asset Management Co. now owns 26,062 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 500 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Cousins Properties by 4.5% in the first quarter. Nisa Investment Advisors LLC now owns 24,208 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 1,044 shares during the last quarter. Amalgamated Bank boosted its position in shares of Cousins Properties by 2.4% in the first quarter. Amalgamated Bank now owns 48,695 shares of the real estate investment trust’s stock worth $403,000 after buying an additional 1,134 shares during the last quarter. Finally, World Asset Management Inc boosted its position in shares of Cousins Properties by 5.0% in the second quarter. World Asset Management Inc now owns 26,474 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 1,265 shares during the last quarter.
Cousins Properties Incorporated (NYSE CUZ) opened at 9.08 on Friday. The company has a market cap of $3.81 billion, a PE ratio of 14.57 and a beta of 1.07. The stock has a 50 day moving average of $8.96 and a 200 day moving average of $8.61. Cousins Properties Incorporated has a one year low of $7.09 and a one year high of $11.40.
Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating 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 company had revenue of $119 million for the quarter, compared to analyst estimates of $114.68 million. During the same quarter in the prior year, the firm posted $0.21 EPS. Cousins Properties’s quarterly revenue was up 146.4% compared to the same quarter last year. On average, analysts anticipate that Cousins Properties Incorporated will post $0.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Monday, July 3rd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.24 annualized dividend and a yield of 2.64%. Cousins Properties’s payout ratio is presently 42.11%.
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A number of research analysts have commented on the stock. Stifel Nicolaus upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and increased their price target for the company from $8.50 to $10.50 in a research report on Tuesday, August 1st. BidaskClub cut shares of Cousins Properties from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Wednesday, July 5th. ValuEngine cut shares of Cousins Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Robert W. Baird upgraded shares of Cousins Properties from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $9.00 to $10.00 in a report on Tuesday, May 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $10.17.
In related news, Director Lillian C. Giornelli sold 5,006 shares of the stock in a transaction 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 sale, the director now owns 102,307 shares in the company, valued at approximately $857,332.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.14% of the company’s stock.
Cousins Properties Company 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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