UniSuper Management Pty Ltd Sells 251,797 Shares of Cousins Properties Incorporated $CUZ

Key Points

• UniSuper Management Pty Ltd reduced its stake in Cousins Properties by 60.4%, selling 251,797 shares and holding approximately $4.88 million worth at the end of the first quarter.
• Cousins Properties reported a Q2 EPS of $0.70, meeting analysts' estimates, while its revenue reached $237.72 million, slightly below the consensus of $243.73 million.
• The company declared a quarterly dividend of $0.32 per share, resulting in an annualized dividend yield of 4.4%, with a very high dividend payout ratio of 345.95%.

UniSuper Management Pty Ltd trimmed its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 60.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,327 shares of the real estate investment trust's stock after selling 251,797 shares during the period. UniSuper Management Pty Ltd owned approximately 0.10% of Cousins Properties worth $4,877,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Choreo LLC increased its position in shares of Cousins Properties by 25.6% in the first quarter. Choreo LLC now owns 27,837 shares of the real estate investment trust's stock worth $821,000 after purchasing an additional 5,681 shares during the last quarter. New York State Teachers Retirement System grew its position in Cousins Properties by 13.5% during the first quarter. New York State Teachers Retirement System now owns 166,446 shares of the real estate investment trust's stock valued at $4,910,000 after acquiring an additional 19,744 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Cousins Properties by 16.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,421 shares of the real estate investment trust's stock valued at $278,000 after acquiring an additional 1,297 shares during the last quarter. Bank of New York Mellon Corp grew its position in Cousins Properties by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 1,384,847 shares of the real estate investment trust's stock valued at $40,853,000 after acquiring an additional 12,131 shares during the last quarter. Finally, KBC Group NV grew its position in Cousins Properties by 25.3% during the first quarter. KBC Group NV now owns 7,554 shares of the real estate investment trust's stock valued at $223,000 after acquiring an additional 1,527 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cousins Properties news, CAO Jeffrey D. Symes sold 4,612 shares of the business's stock in a transaction dated Friday, September 5th. The stock was 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 owned 13,518 shares of the company's stock, valued at approximately $396,077.40. The trade was a 25.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.40% of the company's stock.

Cousins Properties Stock Down 0.6%

Shares of CUZ stock traded down $0.18 during mid-day trading on Friday, reaching $29.43. 1,047,241 shares of the company's stock traded hands, compared to its average volume of 1,458,514. Cousins Properties Incorporated has a 12 month low of $24.07 and a 12 month high of $32.55. The company has a market cap of $4.94 billion, a P/E ratio of 79.53, a P/E/G ratio of 2.68 and a beta of 1.39. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.72. The company's 50-day moving average price is $28.24 and its 200-day moving average price is $28.44.

Cousins Properties (NYSE:CUZ - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, hitting 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 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 previous year, the firm earned $0.68 EPS. Cousins Properties has set its FY 2025 guidance at 2.790-2.850 EPS. On average, equities analysts expect that Cousins Properties Incorporated will post 2.76 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Monday, July 7th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $1.28 dividend on an annualized basis and a yield of 4.3%. Cousins Properties's payout ratio is 345.95%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Mizuho increased their price target on shares of Cousins Properties from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen cut shares of Cousins Properties from a "hold" rating to a "sell" rating in a research report on Saturday, September 6th. Evercore ISI increased their price objective on Cousins Properties from $30.00 to $31.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. 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. Finally, Wells Fargo & Company dropped their price objective on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.40.

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.