Cousins Properties Incorporated (NYSE:CUZ) Shares Sold by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC lowered its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 36.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,486 shares of the real estate investment trust's stock after selling 28,048 shares during the period. SeaBridge Investment Advisors LLC's holdings in Cousins Properties were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System raised its position in shares of Cousins Properties by 13.5% during the 1st quarter. New York State Teachers Retirement System now owns 166,446 shares of the real estate investment trust's stock worth $4,910,000 after acquiring an additional 19,744 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Cousins Properties by 16.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,421 shares of the real estate investment trust's stock worth $278,000 after acquiring an additional 1,297 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Cousins Properties by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,384,847 shares of the real estate investment trust's stock worth $40,853,000 after acquiring an additional 12,131 shares in the last quarter. KBC Group NV raised its position in shares of Cousins Properties by 25.3% during the 1st quarter. KBC Group NV now owns 7,554 shares of the real estate investment trust's stock worth $223,000 after acquiring an additional 1,527 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Cousins Properties by 3.6% during the 1st quarter. Amalgamated Bank now owns 77,490 shares of the real estate investment trust's stock worth $2,286,000 after acquiring an additional 2,673 shares in the last quarter. Institutional investors and hedge funds own 94.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CUZ. Wells Fargo & Company cut their target price on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Mizuho raised their price target on Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Truist Financial downgraded 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. Wolfe Research upgraded Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research note on Monday, April 7th. Finally, Wall Street Zen upgraded Cousins Properties from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

Cousins Properties Price Performance

Shares of Cousins Properties stock traded up $0.05 during trading on Friday, reaching $28.22. The company's stock had a trading volume of 1,308,700 shares, compared to its average volume of 1,357,814. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.62. Cousins Properties Incorporated has a 12-month low of $24.02 and a 12-month high of $32.55. The company has a market capitalization of $4.74 billion, a P/E ratio of 85.52, a price-to-earnings-growth ratio of 2.63 and a beta of 1.33. The business has a 50 day moving average price of $29.04 and a 200-day moving average price of $29.03.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $6.81 million during the quarter, compared to analysts' expectations of $238.49 million. Cousins Properties had a return on equity of 1.15% and a net margin of 5.97%. Cousins Properties's revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Cousins Properties Incorporated will post 2.76 EPS for the current year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Monday, July 7th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.28 annualized dividend and a yield of 4.54%. Cousins Properties's dividend payout ratio is presently 387.88%.

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.