Bank of New York Mellon Corp Takes Position in Cousins Properties Incorporated $CUZ

Key Points

• Bank of New York Mellon acquired 1.39 million Cousins Properties shares worth approximately $41.7 million, giving it a 0.85% stake. Institutional investors collectively own 94.38% of CUZ.
• Analysts maintain a favorable outlook, with seven Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $31.09.
• Cousins Properties reported quarterly EPS of $0.16, missing estimates of $0.74, despite revenue rising 11.8% year over year to $268.5 million. The company also pays a $0.32 quarterly dividend, representing a 4.3% annualized yield.

Bank of New York Mellon Corp purchased a new position in Cousins Properties Incorporated (NYSE:CUZ - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,392,346 shares of the real estate investment trust's stock, valued at approximately $41,743,000. Bank of New York Mellon Corp owned 0.85% of Cousins Properties at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Cousins Properties during the fourth quarter worth $53,063,000. Algebris UK Ltd. bought a new position in Cousins Properties during the 4th quarter worth $12,208,000. Intech Investment Management LLC raised its holdings in Cousins Properties by 222.9% in the 4th quarter. Intech Investment Management LLC now owns 251,847 shares of the real estate investment trust's stock valued at $6,493,000 after acquiring an additional 173,840 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Cousins Properties during the 1st quarter valued at $1,773,000. Finally, Strs Ohio grew its holdings in shares of Cousins Properties by 18.5% during the 4th quarter. Strs Ohio now owns 474,976 shares of the real estate investment trust's stock worth $12,245,000 after purchasing an additional 74,207 shares in the last quarter. Institutional investors own 94.38% of the company's stock.

Analyst Ratings Changes

CUZ has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Cousins Properties from $28.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Mizuho increased their price target on Cousins Properties from $27.00 to $33.00 and gave the company an "outperform" rating in a research note on Tuesday, July 21st. Truist Financial lifted their target price on Cousins Properties from $24.00 to $30.00 and gave the stock a "hold" rating in a report on Friday, June 26th. Finally, Evercore reiterated an "outperform" rating and set a $34.00 target price on shares of Cousins Properties in a research report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $31.09.

Insider Activity at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 6,033 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $29.44, for a total transaction of $177,611.52. Following the completion of the transaction, the chief accounting officer owned 16,685 shares of the company's stock, valued at approximately $491,206.40. The trade was a 26.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.81% of the company's stock.

Cousins Properties Stock Performance

Shares of CUZ stock opened at $29.43 on Friday. The firm's 50 day moving average is $30.41 and its 200 day moving average is $26.71. The stock has a market capitalization of $4.84 billion, a P/E ratio of 735.93, a PEG ratio of 1.93 and a beta of 1.18. Cousins Properties Incorporated has a 12 month low of $21.03 and a 12 month high of $32.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.83.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.58). The business had revenue of $268.53 million during the quarter, compared to analysts' expectations of $263.55 million. Cousins Properties had a net margin of 0.62% and a return on equity of 0.14%. The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Cousins Properties has set its FY 2026 guidance at 2.920-2.980 EPS. On average, sell-side analysts anticipate that Cousins Properties Incorporated will post 2.97 earnings per share for the current year.

Cousins Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Monday, July 6th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Monday, July 6th. Cousins Properties's payout ratio is presently 3,200.00%.

Cousins Properties Company Profile

Cousins Properties Incorporated NYSE: CUZ is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.

Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.

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