SeaBridge Investment Advisors LLC Has $1.46 Million Stake in Cousins Properties Incorporated (NYSE:CUZ)

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

Other institutional investors have also added to or reduced their stakes in the company. Resolution Capital Ltd bought a new position in shares of Cousins Properties in the fourth quarter valued at about $135,094,000. GRS Advisors LLC acquired a new position in Cousins Properties in the 4th quarter valued at about $63,759,000. Norges Bank bought a new position in Cousins Properties in the 4th quarter valued at about $57,194,000. Rush Island Management LP lifted its position in Cousins Properties by 91.4% during the fourth quarter. Rush Island Management LP now owns 3,011,843 shares of the real estate investment trust's stock worth $92,283,000 after acquiring an additional 1,438,127 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Cousins Properties by 400.9% during the fourth quarter. Millennium Management LLC now owns 1,233,050 shares of the real estate investment trust's stock worth $37,781,000 after acquiring an additional 986,863 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Cousins Properties Price Performance

CUZ traded down $0.53 on Thursday, hitting $28.20. 808,722 shares of the stock were exchanged, compared to its average volume of 1,355,680. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 85.42, a PEG ratio of 2.68 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. Cousins Properties Incorporated has a 12 month low of $24.02 and a 12 month high of $32.55. The business has a 50-day moving average of $29.03 and a two-hundred day moving average of $29.06.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Cousins Properties had a net margin of 5.97% and a return on equity of 1.15%. The company had revenue of $6.81 million during the quarter, compared to analysts' expectations of $238.49 million. During the same period in the previous year, the company earned $0.65 EPS. The business's revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts forecast that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, July 7th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, July 7th. Cousins Properties's dividend payout ratio is presently 387.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CUZ. Mizuho increased their target price on Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Monday. Evercore ISI increased their price objective on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Wolfe Research upgraded shares of 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, Truist Financial cut shares of Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research note on Wednesday, July 2nd. Five research analysts have rated the stock with a hold rating and six have given a buy 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.

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.