Wells Fargo & Company MN grew its stake in Cousins Properties Incorporated (NYSE:CUZ) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 873,700 shares of the real estate investment trust’s stock after purchasing an additional 11,419 shares during the quarter. Wells Fargo & Company MN owned about 0.21% of Cousins Properties worth $7,680,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Timber Hill LLC bought a new stake in shares of Cousins Properties in the 2nd quarter valued at $118,000. Dynamic Technology Lab Private Ltd bought a new position in Cousins Properties during the 1st quarter worth about $121,000. Oakbrook Investments LLC increased its holdings in Cousins Properties by 2.0% during the 2nd quarter. Oakbrook Investments LLC now owns 15,500 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 300 shares in the last quarter. World Asset Management Inc increased its holdings in Cousins Properties by 21.5% during the 1st quarter. World Asset Management Inc now owns 25,209 shares of the real estate investment trust’s stock worth $208,000 after purchasing an additional 4,459 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Cousins Properties by 207.3% during the 2nd quarter. US Bancorp DE now owns 24,357 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 16,432 shares in the last quarter.
Cousins Properties Incorporated (NYSE:CUZ) opened at 9.47 on Tuesday. The company has a market capitalization of $3.98 billion, a PE ratio of 15.20 and a beta of 1.06. The company has a 50-day moving average of $9.33 and a 200-day moving average of $8.90. Cousins Properties Incorporated has a 52 week low of $7.09 and a 52 week high of $9.59.
Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.01. The firm had revenue of $119.00 million for the quarter, compared to analysts’ expectations of $114.68 million. Cousins Properties had a net margin of 49.99% and a return on equity of 9.37%. The business’s revenue for the quarter was up 146.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. On average, equities research analysts anticipate that Cousins Properties Incorporated will post $0.45 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Monday, October 2nd were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Friday, September 29th. Cousins Properties’s payout ratio is 42.11%.
A number of equities analysts have recently commented on CUZ shares. Zacks Investment Research upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Wednesday, July 5th. BidaskClub downgraded shares of Cousins Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Stifel Nicolaus upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $8.50 to $10.50 in a research note on Tuesday, August 1st. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $10.00 target price on shares of Cousins Properties in a research note on Monday, October 2nd. Finally, Bank of America Corporation raised their price objective on shares of Cousins Properties from $9.50 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $10.10.
About Cousins Properties
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.
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