Swedbank AB Sells 16,800 Shares of Cousins Properties Incorporated $CUZ

Key Points

• Swedbank AB has reduced its ownership in Cousins Properties Incorporated by selling 16,800 shares, bringing its total holdings to approximately 431,003 shares, which is worth about $12.9 million.
• Equities research analysts have raised their price targets for Cousins Properties, with Mizuho setting a target of $31 and Evercore ISI at $32, but Wall Street Zen downgraded the stock from a "hold" to a "sell" rating.
• Cousins Properties announced a quarterly dividend of $0.32 per share, which will be paid on October 15th, representing an annualized dividend of $1.28 with a yield of 4.4%.

Swedbank AB reduced its position in shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 431,003 shares of the real estate investment trust's stock after selling 16,800 shares during the period. Swedbank AB owned 0.26% of Cousins Properties worth $12,943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CUZ. GF Fund Management CO. LTD. grew its position in Cousins Properties by 14.8% during the first quarter. GF Fund Management CO. LTD. now owns 3,175 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 410 shares during the period. Cetera Investment Advisers raised its stake in shares of Cousins Properties by 2.7% in the first quarter. Cetera Investment Advisers now owns 16,377 shares of the real estate investment trust's stock valued at $483,000 after buying an additional 427 shares during the period. Signaturefd LLC grew its position in shares of Cousins Properties by 16.5% in the first 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. Parallel Advisors LLC grew its position in shares of Cousins Properties by 14.3% in the second quarter. Parallel Advisors LLC now owns 3,932 shares of the real estate investment trust's stock valued at $118,000 after purchasing an additional 493 shares in the last quarter. Finally, State of Michigan Retirement System grew its position in shares of Cousins Properties by 1.5% in the first quarter. State of Michigan Retirement System now owns 40,144 shares of the real estate investment trust's stock valued at $1,184,000 after purchasing an additional 600 shares in the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cousins Properties news, CAO Jeffrey D. Symes sold 4,612 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $29.30, for a total transaction of $135,131.60. Following the completion of the transaction, the chief accounting officer owned 13,518 shares of the company's stock, valued at $396,077.40. This represents a 25.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CUZ. Wall Street Zen cut Cousins Properties from a "hold" rating to a "sell" rating in a research report on Saturday, September 6th. Truist Financial reduced their target price on Cousins Properties from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, August 26th. Mizuho boosted their target price on Cousins Properties from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Evercore ISI boosted their target price on Cousins Properties from $31.00 to $32.00 and gave the stock an "in-line" rating in a research report on Monday, September 15th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $32.50.

Cousins Properties Trading Down 0.6%

CUZ traded down $0.18 during midday trading on Tuesday, reaching $28.67. 280,765 shares of the company's stock traded hands, compared to its average volume of 1,507,924. The firm has a fifty day moving average of $28.25 and a two-hundred day moving average of $28.40. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 77.52, a P/E/G ratio of 2.61 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 Incorporated has a 52 week low of $24.07 and a 52 week high of $32.55.

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

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.5%. Cousins Properties's dividend payout ratio is presently 345.95%.

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.