Davis Selected Advisers Sells 57,280 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Key Points

• Davis Selected Advisers reduced its stake in Cousins Properties by 11.4%, owning 446,935 shares after selling 57,280 shares in the first quarter.
• Cousins Properties reported a quarterly EPS of $0.70, meeting analysts' expectations, with a net margin of 6.51% and revenue of $237.72 million.
• The firm declared a quarterly dividend of $0.32 per share, yielding 4.7%, but has a high dividend payout ratio of 345.95%.

Davis Selected Advisers cut its holdings in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 11.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,935 shares of the real estate investment trust's stock after selling 57,280 shares during the quarter. Davis Selected Advisers owned 0.27% of Cousins Properties worth $13,185,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Spire Wealth Management acquired a new stake in shares of Cousins Properties in the first quarter valued at approximately $25,000. N.E.W. Advisory Services LLC acquired a new stake in Cousins Properties during the first quarter worth approximately $36,000. Manchester Capital Management LLC boosted its position in Cousins Properties by 579.7% during the first quarter. Manchester Capital Management LLC now owns 2,712 shares of the real estate investment trust's stock worth $80,000 after acquiring an additional 2,313 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Cousins Properties during the fourth quarter worth approximately $85,000. Finally, FIL Ltd boosted its position in Cousins Properties by 24.6% during the fourth quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust's stock worth $100,000 after acquiring an additional 643 shares during the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Cousins Properties Stock Up 2.9%

CUZ stock traded up $0.77 during midday trading on Tuesday, reaching $27.35. The company had a trading volume of 902,293 shares, compared to its average volume of 1,505,069. Cousins Properties Incorporated has a 1 year low of $24.07 and a 1 year high of $32.55. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $4.59 billion, a P/E ratio of 73.92, a PEG ratio of 1.75 and a beta of 1.33. The company has a 50 day moving average of $28.87 and a two-hundred day moving average of $28.70.

Cousins Properties (NYSE:CUZ - Get Free Report) last announced its quarterly 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. 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 analyst estimates of $243.73 million. During the same quarter in the prior year, the business posted $0.68 EPS. Cousins Properties's quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts expect that Cousins Properties Incorporated will post 2.76 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, July 7th were paid a $0.32 dividend. The ex-dividend date was Monday, July 7th. This represents a $1.28 dividend on an annualized basis and a yield of 4.7%. Cousins Properties's dividend payout ratio (DPR) is presently 345.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. 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 report on Monday, May 19th. Truist Financial lowered shares of Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a report on Wednesday, July 2nd. Wall Street Zen lowered shares of Cousins Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Mizuho upped their price target 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. Finally, Evercore ISI upped their price target on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $32.50.

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.