New Age Alpha Advisors LLC Sells 15,623 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Cousins Properties by 49.5%, holding 15,949 shares valued at approximately $470,000.
• Cousins Properties reported $0.70 earnings per share for the quarter, matching analysts’ expectations, with a quarterly revenue of $237.72 million, below the projected $243.73 million.
• The company announced a quarterly dividend of $0.32, equating to an annual yield of 4.8% with a dividend payout ratio of 345.95%.

New Age Alpha Advisors LLC lessened its holdings in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 49.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,949 shares of the real estate investment trust's stock after selling 15,623 shares during the quarter. New Age Alpha Advisors LLC's holdings in Cousins Properties were worth $470,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Spire Wealth Management acquired a new position in shares of Cousins Properties in the first quarter valued at $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Cousins Properties in the first quarter valued at about $36,000. Manchester Capital Management LLC grew its stake in shares of Cousins Properties by 579.7% in the first quarter. Manchester Capital Management LLC now owns 2,712 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 2,313 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Cousins Properties in the fourth quarter valued at about $85,000. Finally, FIL Ltd grew its stake in shares of Cousins Properties by 24.6% in the fourth quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust's stock valued at $100,000 after acquiring an additional 643 shares in the last quarter. Institutional investors own 94.38% of the company's stock.

Cousins Properties Price Performance

Shares of CUZ stock traded up $1.01 on Tuesday, reaching $27.59. The company had a trading volume of 1,830,797 shares, compared to its average volume of 1,511,503. The business's 50-day moving average is $28.87 and its 200 day moving average is $28.70. Cousins Properties Incorporated has a one year low of $24.07 and a one year high of $32.55. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $4.63 billion, a PE ratio of 74.55, a price-to-earnings-growth ratio of 1.75 and a beta of 1.33.

Cousins Properties (NYSE:CUZ - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.70 earnings per share for the quarter, meeting analysts' consensus estimates of $0.70. Cousins Properties had a net margin of 6.51% and a return on equity of 1.27%. The company had revenue of $237.72 million for the quarter, compared to the consensus estimate of $243.73 million. During the same period last year, the company posted $0.68 EPS. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Monday, July 7th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, July 7th. Cousins Properties's dividend payout ratio (DPR) is presently 345.95%.

Analysts Set New Price Targets

CUZ has been the topic of several research reports. Evercore ISI upped their price target on shares of Cousins Properties from $30.00 to $31.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Wall Street Zen downgraded shares of Cousins Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Wells Fargo & Company decreased their price target on shares of Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Truist Financial downgraded shares of Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research note on Wednesday, July 2nd. Finally, Mizuho increased their price objective on shares of Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.50.

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.