Bank of America Corp DE Acquires 1,371,432 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Bank of America Corp DE raised its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 240.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,942,512 shares of the real estate investment trust’s stock after buying an additional 1,371,432 shares during the period. Bank of America Corp DE owned about 0.46% of Cousins Properties worth $16,064,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Glen Harbor Capital Management LLC increased its stake in Cousins Properties by 46.6% in the first quarter. Glen Harbor Capital Management LLC now owns 14,388 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 4,576 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Cousins Properties by 64.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,698,968 shares of the real estate investment trust’s stock valued at $39,986,000 after buying an additional 1,837,508 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in Cousins Properties by 46.6% in the first quarter. Meadow Creek Investment Management LLC now owns 22,236 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 7,072 shares in the last quarter. Princeton Alpha Management LP purchased a new stake in Cousins Properties during the first quarter valued at about $232,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Cousins Properties during the first quarter valued at about $461,000.

Shares of Cousins Properties Incorporated (CUZ) traded down 0.11% during mid-day trading on Tuesday, hitting $9.17. The company had a trading volume of 1,902,882 shares. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 14.72 and a beta of 1.07. Cousins Properties Incorporated has a 52-week low of $7.09 and a 52-week high of $11.40. The stock’s 50-day moving average is $8.91 and its 200-day moving average is $8.57.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Cousins Properties had a net margin of 49.99% and a return on equity of 9.37%. The business had revenue of $119 million for the quarter, compared to analysts’ expectations of $114.68 million. During the same period in the prior year, the firm earned $0.21 earnings per share. Cousins Properties’s revenue was up 146.4% compared to the same quarter last year. Equities analysts forecast that Cousins Properties Incorporated will post $0.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Stockholders of record on Monday, July 3rd were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.24 annualized dividend and a dividend yield of 2.62%. Cousins Properties’s dividend payout ratio (DPR) is currently 42.11%.

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Several research firms recently commented on CUZ. Stifel Nicolaus raised Cousins Properties from a “hold” rating to a “buy” rating and boosted their target price for the stock from $8.50 to $10.50 in a research note on Tuesday, August 1st. BidaskClub cut Cousins Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Zacks Investment Research raised Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Wednesday, July 5th. ValuEngine cut Cousins Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Robert W. Baird raised Cousins Properties from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $9.00 to $10.00 in a research report on Tuesday, May 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $10.17.

In other news, Director Lillian C. Giornelli sold 5,006 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $8.38, for a total transaction of $41,950.28. Following the sale, the director now directly owns 102,307 shares of the company’s stock, valued at $857,332.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.14% of the stock is owned by corporate insiders.

Cousins Properties Company Profile

Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.

Institutional Ownership by Quarter for Cousins Properties (NYSE:CUZ)

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