State Board of Administration of Florida Retirement System lowered its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 1.1% in the third quarter, Holdings Channel reports. The firm owned 169,656 shares of the real estate investment trust’s stock after selling 1,835 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Cousins Properties were worth $6,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Cousins Properties by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 21,492,184 shares of the real estate investment trust’s stock worth $790,482,000 after purchasing an additional 278,346 shares during the period. State Street Corp raised its position in Cousins Properties by 4.3% during the 2nd quarter. State Street Corp now owns 6,696,865 shares of the real estate investment trust’s stock worth $246,311,000 after buying an additional 273,448 shares during the last quarter. Boston Partners raised its position in Cousins Properties by 1.8% during the 3rd quarter. Boston Partners now owns 5,760,984 shares of the real estate investment trust’s stock worth $215,079,000 after buying an additional 103,744 shares during the last quarter. Zimmer Partners LP raised its position in Cousins Properties by 173.6% during the 2nd quarter. Zimmer Partners LP now owns 3,625,000 shares of the real estate investment trust’s stock worth $133,328,000 after buying an additional 2,300,000 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Cousins Properties by 757.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,555,484 shares of the real estate investment trust’s stock worth $132,584,000 after buying an additional 3,140,794 shares during the last quarter. Hedge funds and other institutional investors own 96.47% of the company’s stock.
Separately, Wells Fargo & Company upped their price objective on shares of Cousins Properties from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 1st.
Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, October 28th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.17. The business had revenue of $185.52 million during the quarter, compared to the consensus estimate of $182.56 million. Cousins Properties had a net margin of 16.36% and a return on equity of 2.73%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. On average, research analysts anticipate that Cousins Properties Incorporated will post 2.76 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Wednesday, January 5th were issued a $0.31 dividend. The ex-dividend date was Tuesday, January 4th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.99%. Cousins Properties’s dividend payout ratio is presently 151.22%.
About Cousins Properties
Cousins Properties, Inc engages in the development, acquisition, leasing and management of real estate assets. It invests in urban office towers located in Sunbelt markets. The firm operates through the following geographical segments: Atlanta, Charlotte, Austin, Phoenix, Tampa, Orlando and Houston. The company was founded by Thomas G.
See Also: What is a death cross?
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cousins Properties and related companies with MarketBeat.com's FREE daily email newsletter.