Algert Global LLC Sells 36,894 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Algert Global LLC lowered its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 15.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 205,792 shares of the real estate investment trust’s stock after selling 36,894 shares during the quarter. Algert Global LLC’s holdings in Cousins Properties were worth $6,067,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CUZ. Massachusetts Financial Services Co. MA lifted its stake in Cousins Properties by 3,768.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,337,416 shares of the real estate investment trust’s stock worth $68,907,000 after purchasing an additional 2,276,986 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Cousins Properties by 368.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,947 shares of the real estate investment trust’s stock worth $23,052,000 after purchasing an additional 615,118 shares during the last quarter. Swedbank AB bought a new stake in Cousins Properties during the first quarter worth about $14,306,000. Principal Financial Group Inc. lifted its stake in Cousins Properties by 3.9% during the third quarter. Principal Financial Group Inc. now owns 12,140,948 shares of the real estate investment trust’s stock worth $357,910,000 after purchasing an additional 458,387 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Cousins Properties by 2.0% during the first quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock worth $561,412,000 after purchasing an additional 456,251 shares during the last quarter. Institutional investors own 94.38% of the company’s stock.

Insider Buying and Selling at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at $352,440.77. This represents a 32.37 % decrease in their position. The transaction 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.

Cousins Properties Trading Up 0.6 %

CUZ opened at $31.72 on Friday. The business has a 50 day simple moving average of $30.40 and a two-hundred day simple moving average of $26.90. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 96.12, a PEG ratio of 4.20 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. Cousins Properties Incorporated has a one year low of $19.48 and a one year high of $32.44.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). The business had revenue of $209.21 million for the quarter, compared to the consensus estimate of $212.54 million. Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. Analysts predict that Cousins Properties Incorporated will post 2.68 EPS for the current year.

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s payout ratio is 387.88%.

Analysts Set New Price Targets

Several brokerages have issued reports on CUZ. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Robert W. Baird boosted their target price on Cousins Properties from $31.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company boosted their target price on Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Evercore ISI boosted their target price on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Truist Financial boosted their target price on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.50.

About Cousins Properties

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.