Eaton Vance Management boosted its stake in shares of Cousins Properties Inc. (NYSE:CUZ) by 9.0% during the second quarter, Holdings Channel reports. The firm owned 36,309 shares of the real estate investment trust’s stock after buying an additional 3,006 shares during the period. Eaton Vance Management’s holdings in Cousins Properties were worth $378,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the stock. UBS Asset Management Americas Inc. boosted its position in shares of Cousins Properties by 37.4% in the second quarter. UBS Asset Management Americas Inc. now owns 1,291,321 shares of the real estate investment trust’s stock valued at $13,429,000 after buying an additional 351,803 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Cousins Properties by 19.8% in the second quarter. Advisors Asset Management Inc. now owns 66,635 shares of the real estate investment trust’s stock valued at $693,000 after buying an additional 11,016 shares during the period. Argent Capital Management LLC purchased a new position in shares of Cousins Properties during the second quarter valued at about $1,284,000. LSV Asset Management boosted its position in shares of Cousins Properties by 10.0% in the second quarter. LSV Asset Management now owns 6,491,006 shares of the real estate investment trust’s stock valued at $67,506,000 after buying an additional 590,130 shares during the period. Finally, Lasalle Investment Management Securities LLC boosted its position in shares of Cousins Properties by 4.4% in the second quarter. Lasalle Investment Management Securities LLC now owns 7,882,761 shares of the real estate investment trust’s stock valued at $81,981,000 after buying an additional 333,036 shares during the period. Institutional investors own 99.72% of the company’s stock.
Shares of Cousins Properties Inc. (NYSE:CUZ) traded down 0.29% during mid-day trading on Friday, hitting $10.44. The stock had a trading volume of 2,440,247 shares. Cousins Properties Inc. has a 12-month low of $7.53 and a 12-month high of $11.40. The stock’s 50-day moving average price is $10.76 and its 200-day moving average price is $10.56. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.77 and a beta of 1.26.
Cousins Properties (NYSE:CUZ) last announced its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by $0.01. The business earned $92.70 million during the quarter, compared to analyst estimates of $89.52 million. Cousins Properties had a return on equity of 8.41% and a net margin of 37.51%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, equities analysts anticipate that Cousins Properties Inc. will post $0.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Friday, August 19th. Cousins Properties’s dividend payout ratio (DPR) is presently 47.76%.
Several equities research analysts have recently weighed in on the company. Stifel Nicolaus lowered Cousins Properties from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $11.50 to $9.50 in a research note on Thursday. They noted that the move was a valuation call. Robert W. Baird lowered Cousins Properties from an “outperform” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Wednesday, August 17th. Finally, Zacks Investment Research lowered Cousins Properties from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $10.88.
Cousins Properties Company Profile
Cousins Properties Incorporated (Cousins) is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on development, acquisition, leasing and property management. The Company’s investment strategy is to purchase Class A office assets or locate opportunistic development or redevelopment projects in its core markets to which it can add value through relationships, capital, or market expertise.
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