SummitTX Capital L.P. Sells 172,814 Shares of Cousins Properties Incorporated $CUZ

Key Points

• SummitTX Capital reduced its Cousins Properties stake by 75.6%, selling 172,814 shares and retaining 55,804 shares valued at approximately $1.26 million. Institutional investors collectively own 94.38% of CUZ.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $30.91; Wells Fargo and Evercore set targets of $34.
• Cousins Properties reported a quarterly revenue increase of 7.4% year over year to $263.11 million but missed EPS estimates, posting a loss of $0.15 per share. The REIT also paid a quarterly dividend of $0.32 per share, representing a 4.0% annualized yield.

SummitTX Capital L.P. cut its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 75.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,804 shares of the real estate investment trust's stock after selling 172,814 shares during the period. SummitTX Capital L.P.'s holdings in Cousins Properties were worth $1,259,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in Cousins Properties by 128.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,232 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 692 shares in the last quarter. Avalon Trust Co bought a new position in shares of Cousins Properties during the first quarter valued at $39,000. Arax Advisory Partners acquired a new stake in shares of Cousins Properties in the 4th quarter valued at $39,000. Clearstead Advisors LLC increased its position in shares of Cousins Properties by 176.1% during the 4th quarter. Clearstead Advisors LLC now owns 1,803 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 1,150 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new stake in shares of Cousins Properties during the 1st quarter worth about $50,000. Institutional investors and hedge funds own 94.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Cousins Properties from $28.00 to $34.00 and gave the company an "overweight" rating in a research report on Monday, June 1st. Truist Financial boosted their target price on Cousins Properties from $24.00 to $30.00 and gave the stock a "hold" rating in a report on Friday, June 26th. Weiss Ratings upgraded Cousins Properties from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 25th. Evercore restated an "outperform" rating and set a $34.00 price target on shares of Cousins Properties in a research report on Monday, July 6th. Finally, Wall Street Zen raised Cousins Properties from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.91.

Cousins Properties Price Performance

Shares of CUZ stock opened at $32.28 on Thursday. Cousins Properties Incorporated has a 1 year low of $21.03 and a 1 year high of $32.95. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83. The firm's 50 day moving average is $29.40 and its 200-day moving average is $26.10. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of -1,075.61, a PEG ratio of 2.33 and a beta of 1.19.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.21). Cousins Properties had a negative net margin of 0.52% and a negative return on equity of 0.11%. The company had revenue of $263.11 million during the quarter, compared to analyst estimates of $256.77 million. During the same period in the prior year, the business earned $0.74 EPS. The business's revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts forecast that Cousins Properties Incorporated will post 2.95 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Monday, July 6th were given a dividend of $0.32 per share. The ex-dividend date was Monday, July 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. Cousins Properties's payout ratio is presently -4,266.67%.

About Cousins Properties

Cousins Properties Incorporated NYSE: CUZ is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.

Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.

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