Strs Ohio reduced its stake in Cousins Properties Inc. (NYSE:CUZ) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 379,948 shares of the real estate investment trust’s stock after selling 9,281 shares during the period. Strs Ohio’s holdings in Cousins Properties were worth $3,951,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. M&T Bank Corp increased its stake in shares of Cousins Properties by 10.9% in the first quarter. M&T Bank Corp now owns 12,607 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 1,239 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Cousins Properties during the first quarter valued at about $138,000. HBK Investments L P acquired a new stake in shares of Cousins Properties during the first quarter valued at about $151,000. Invictus RG increased its stake in shares of Cousins Properties by 8.1% in the first quarter. Invictus RG now owns 28,000 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 2,097 shares in the last quarter. Finally, BB&T Securities LLC increased its stake in shares of Cousins Properties by 28.2% in the first quarter. BB&T Securities LLC now owns 29,059 shares of the real estate investment trust’s stock valued at $301,000 after buying an additional 6,389 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Cousins Properties Inc. (NYSE:CUZ) traded up 7.36% on Friday, hitting $7.57. The stock had a trading volume of 11,010,415 shares. The firm’s 50 day moving average is $10.63 and its 200-day moving average is $10.55. Cousins Properties Inc. has a one year low of $7.19 and a one year high of $11.40. The stock has a market capitalization of $1.59 billion, a PE ratio of 11.44 and a beta of 1.14.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. The firm earned $92.70 million during the quarter, compared to the consensus estimate of $89.52 million. Cousins Properties had a net margin of 37.51% and a return on equity of 8.41%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. Equities research analysts expect that Cousins Properties Inc. will post $0.86 earnings per share for the current fiscal year.
Several brokerages have weighed in on CUZ. Zacks Investment Research raised Cousins Properties from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Wednesday, July 27th. Robert W. Baird lowered Cousins Properties from an “outperform” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research report on Wednesday, August 17th. Finally, Stifel Nicolaus lowered Cousins Properties from a “hold” rating to a “sell” rating and dropped their target price for the stock from $11.50 to $9.50 in a research report on Thursday, September 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $10.88.
About Cousins Properties
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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