Cousins Properties Incorporated (NYSE:CUZ) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 428,031 shares of the real estate investment trust's stock after selling 259,747 shares during the quarter. Wellington Management Group LLP owned 0.25% of Cousins Properties worth $13,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Cousins Properties during the fourth quarter worth $11,456,000. Employees Retirement System of Texas increased its position in shares of Cousins Properties by 155.1% during the fourth quarter. Employees Retirement System of Texas now owns 125,000 shares of the real estate investment trust's stock worth $3,830,000 after acquiring an additional 76,000 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Cousins Properties during the fourth quarter worth $793,000. GF Fund Management CO. LTD. purchased a new stake in shares of Cousins Properties during the fourth quarter worth $85,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Cousins Properties by 7.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 294,645 shares of the real estate investment trust's stock worth $9,028,000 after acquiring an additional 19,831 shares during the period. Hedge funds and other institutional investors own 94.38% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Evercore ISI increased their target price on Cousins Properties from $30.00 to $31.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Wells Fargo & Company dropped 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. Jefferies Financial Group assumed coverage on Cousins Properties in a report on Monday, March 17th. They issued a "buy" rating and a $35.00 target price on the stock. Finally, Robert W. Baird dropped their target price on Cousins Properties from $34.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $32.20.

Cousins Properties Stock Performance

NYSE CUZ traded up $0.75 during trading hours on Friday, hitting $29.43. The company had a trading volume of 1,054,311 shares, compared to its average volume of 1,304,526. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.74 and a current ratio of 0.74. Cousins Properties Incorporated has a 1-year low of $22.16 and a 1-year high of $32.55. The company has a market cap of $4.94 billion, a PE ratio of 98.08, a price-to-earnings-growth ratio of 2.98 and a beta of 1.32. The business has a 50 day moving average of $27.47 and a 200-day moving average of $29.27.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. The company had revenue of $6.81 million during the quarter, compared to the consensus estimate of $238.49 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Cousins Properties's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities research analysts expect that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, April 3rd were paid a $0.32 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $1.28 annualized dividend and a yield of 4.35%. Cousins Properties's dividend payout ratio is presently 387.88%.

Cousins Properties Company 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.