Millennium Management LLC Decreases Stock Holdings in Cousins Properties Incorporated $CUZ

Key Points

• Millennium Management LLC has cut its stake in Cousins Properties Incorporated by 32.4%, reducing its holdings to approximately 833,559 shares, valued at around $24.59 million.
• The company recently reported earnings of $0.70 per share, matching consensus estimates, and revenue of $237.72 million, which was below expectations. The revenue, however, showed a year-over-year increase of 12.7%.
• Cousins Properties declared a quarterly dividend of $0.32 per share, yielding 4.3%, even as its dividend payout ratio is notably high at 345.95%.

Millennium Management LLC reduced its position in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 32.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 833,559 shares of the real estate investment trust's stock after selling 399,491 shares during the quarter. Millennium Management LLC owned 0.50% of Cousins Properties worth $24,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management purchased a new stake in Cousins Properties in the first quarter worth approximately $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Cousins Properties in the 1st quarter valued at $36,000. Manchester Capital Management LLC boosted its stake in shares of Cousins Properties by 579.7% in the 1st quarter. Manchester Capital Management LLC now owns 2,712 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 2,313 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Cousins Properties in the 4th quarter valued at $85,000. Finally, Signaturefd LLC boosted its stake in shares of Cousins Properties by 16.5% in the 1st quarter. Signaturefd LLC now owns 3,374 shares of the real estate investment trust's stock valued at $100,000 after purchasing an additional 477 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company's stock.

Cousins Properties Stock Down 0.5%

NYSE CUZ traded down $0.14 during trading hours on Wednesday, reaching $29.14. 124,964 shares of the company's stock traded hands, compared to its average volume of 1,501,373. The firm has a 50-day simple moving average of $28.25 and a 200 day simple moving average of $28.42. Cousins Properties Incorporated has a 52-week low of $24.07 and a 52-week high of $32.55. The firm has a market cap of $4.89 billion, a PE ratio of 78.76, a PEG ratio of 2.65 and a beta of 1.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.45 and a quick ratio of 2.45.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The firm had revenue of $237.72 million during the quarter, compared to analyst estimates of $243.73 million. Cousins Properties had a net margin of 6.51% and a return on equity of 1.27%. The business's revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. Cousins Properties has set its FY 2025 guidance at 2.790-2.850 EPS. Sell-side analysts anticipate that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Evercore ISI upped their price target on shares of Cousins Properties from $31.00 to $32.00 and gave the company an "in-line" rating in a research report on Monday. Mizuho increased their target price on Cousins Properties from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wall Street Zen cut Cousins Properties from a "hold" rating to a "sell" rating in a report on Saturday, September 6th. Finally, Truist Financial dropped their price objective on Cousins Properties from $31.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, August 26th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $32.50.

Insider Activity

In other Cousins Properties news, CAO Jeffrey D. Symes sold 4,612 shares of Cousins Properties stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $29.30, for a total value of $135,131.60. Following the completion of the transaction, the chief accounting officer directly owned 13,518 shares of the company's stock, valued at approximately $396,077.40. The trade was a 25.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.47% of the stock is currently owned by corporate insiders.

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.