Spirit of America Management Corp NY Has $150,000 Stake in Cousins Properties Incorporated (NYSE:CUZ)

Spirit of America Management Corp NY lowered its stake in Cousins Properties Incorporated (NYSE:CUZ) by 23.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,500 shares of the real estate investment trust’s stock after selling 2,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in Cousins Properties were worth $150,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Principal Securities Inc. bought a new stake in shares of Cousins Properties in the 4th quarter valued at $31,000. Blue Trust Inc. increased its stake in shares of Cousins Properties by 130.8% in the 2nd quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 858 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Cousins Properties by 3,236.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,586 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Cousins Properties in the 1st quarter valued at $43,000. Finally, Westend Capital Management LLC bought a new stake in shares of Cousins Properties in the 1st quarter valued at $184,000. Institutional investors own 94.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CUZ. StockNews.com upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Evercore ISI restated an “in-line” rating and set a $29.00 price target on shares of Cousins Properties in a research note on Tuesday, August 20th. Robert W. Baird boosted their price target on shares of Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Barclays boosted their price target on shares of Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.86.

Cousins Properties Stock Performance

Shares of NYSE:CUZ traded up $0.66 during midday trading on Friday, reaching $27.95. The company had a trading volume of 713,956 shares, compared to its average volume of 1,373,600. The stock has a market cap of $4.25 billion, a P/E ratio of 57.04, a P/E/G ratio of 4.62 and a beta of 1.30. Cousins Properties Incorporated has a 52-week low of $17.40 and a 52-week high of $28.09. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average price is $25.07 and its 200 day moving average price is $23.80.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.61). The business had revenue of $212.98 million for the quarter, compared to analysts’ expectations of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. Cousins Properties’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $2.75 earnings per share. As a group, sell-side analysts anticipate that Cousins Properties Incorporated will post 2.67 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Wednesday, July 3rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cousins Properties’s dividend payout ratio is presently 261.22%.

Cousins Properties 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.