Cousins Properties (NYSE:CUZ) Trading Up 6.1%

Cousins Properties Incorporated (NYSE:CUZ) rose 6.1% during trading on Friday . The company traded as high as $27.03 and last traded at $26.72. Approximately 885,988 shares traded hands during trading, a decline of 37% from the average daily volume of 1,397,320 shares. The stock had previously closed at $25.18.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.67.

Cousins Properties Stock Performance

The company has a 50-day moving average of $23.33 and a 200-day moving average of $23.24. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 55.10, a price-to-earnings-growth ratio of 4.12 and a beta of 1.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.57.

Cousins Properties (NYSE:CUZ) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.54). Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The business had revenue of $209.20 million for the quarter, compared to analyst estimates of $199.35 million. During the same period last year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts forecast that Cousins Properties Incorporated will post 2.65 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were paid a dividend of $0.32 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.28 annualized dividend and a yield of 4.70%. Cousins Properties’s dividend payout ratio (DPR) is 261.22%.

Insiders Place Their Bets

In related news, CFO Gregg D. Adzema sold 71,097 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $1,657,271.07. Following the sale, the chief financial officer now owns 85,872 shares of the company’s stock, valued at approximately $2,001,676.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cousins Properties

Several institutional investors have recently modified their holdings of CUZ. Principal Securities Inc. acquired a new position in Cousins Properties during the 4th quarter worth $31,000. Blue Trust Inc. raised its stake in shares of Cousins Properties by 130.8% during the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 858 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Cousins Properties by 3,236.7% in the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,586 shares during the period. Abich Financial Wealth Management LLC bought a new position in Cousins Properties in the 1st quarter valued at about $43,000. Finally, Cetera Trust Company N.A bought a new position in Cousins Properties in the 4th quarter valued at about $156,000. Institutional investors own 94.38% of the company’s stock.

Cousins Properties Company Profile

Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.