Centersquare Investment Management LLC Sells 417,326 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Key Points

• Centersquare Investment Management LLC reduced its stake in Cousins Properties by 7.5%, selling 417,326 shares to hold approximately 5.18 million shares, representing 1.6% of its total holdings.
• The stock price target for Cousins Properties has been adjusted by analysts, with Wells Fargo lowering it to $32.00 and Evercore ISI increasing it to $31.00.
• Cousins Properties declared a quarterly dividend of $0.32 per share, resulting in an annualized dividend yield of 4.8%, despite a high dividend payout ratio of 345.95%.

Centersquare Investment Management LLC reduced its holdings in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,183,579 shares of the real estate investment trust's stock after selling 417,326 shares during the quarter. Cousins Properties makes up 1.6% of Centersquare Investment Management LLC's portfolio, making the stock its 22nd biggest holding. Centersquare Investment Management LLC owned approximately 3.09% of Cousins Properties worth $152,916,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Resolution Capital Ltd acquired a new stake in shares of Cousins Properties in the fourth quarter valued at about $135,094,000. GRS Advisors LLC purchased a new position in Cousins Properties in the fourth quarter valued at about $63,759,000. Rush Island Management LP boosted its holdings in Cousins Properties by 91.4% in the fourth quarter. Rush Island Management LP now owns 3,011,843 shares of the real estate investment trust's stock valued at $92,283,000 after purchasing an additional 1,438,127 shares during the last quarter. Millennium Management LLC boosted its holdings in Cousins Properties by 400.9% in the fourth quarter. Millennium Management LLC now owns 1,233,050 shares of the real estate investment trust's stock valued at $37,781,000 after purchasing an additional 986,863 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Cousins Properties in the fourth quarter valued at about $25,148,000. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CUZ has been the subject of a number of analyst reports. Mizuho increased their price target on Cousins Properties from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Truist Financial downgraded Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a report on Wednesday, July 2nd. Wells Fargo & Company reduced their target price on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Evercore ISI increased their target price on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Wall Street Zen downgraded Cousins Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cousins Properties currently has a consensus rating of "Hold" and an average price target of $32.50.

Cousins Properties Price Performance

Shares of CUZ traded down $0.30 during trading hours on Friday, hitting $26.74. 2,258,500 shares of the company were exchanged, compared to its average volume of 1,670,479. The company has a market capitalization of $4.49 billion, a PE ratio of 72.26, a PEG ratio of 1.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.45 and a quick ratio of 2.45. The firm has a fifty day simple moving average of $28.90 and a 200-day simple moving average of $28.74. Cousins Properties Incorporated has a one year low of $24.07 and a one year high of $32.55.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its earnings results on Thursday, July 31st. The real estate investment trust reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The business had revenue of $237.72 million during the quarter, compared to analysts' expectations of $243.73 million. Cousins Properties had a return on equity of 1.27% and a net margin of 6.51%. Cousins Properties's revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. As a group, sell-side analysts predict that Cousins Properties Incorporated will post 2.76 earnings per share for the current year.

Cousins Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, July 7th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.28 dividend on an annualized basis and a yield of 4.8%. Cousins Properties's dividend payout ratio (DPR) is presently 345.95%.

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.