Resolution Capital Ltd Sells 2,571,383 Shares of Cousins Properties Incorporated $CUZ

Resolution Capital Ltd lessened its position in Cousins Properties Incorporated (NYSE:CUZ) by 85.3% in the first quarter, HoldingsChannel reports. The fund owned 442,437 shares of the real estate investment trust’s stock after selling 2,571,383 shares during the quarter. Cousins Properties makes up approximately 0.2% of Resolution Capital Ltd’s holdings, making the stock its 28th largest holding. Resolution Capital Ltd’s holdings in Cousins Properties were worth $9,986,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Algebris UK Ltd. bought a new stake in Cousins Properties during the 4th quarter valued at $12,208,000. Intech Investment Management LLC grew its holdings in shares of Cousins Properties by 222.9% during the fourth quarter. Intech Investment Management LLC now owns 251,847 shares of the real estate investment trust’s stock valued at $6,493,000 after buying an additional 173,840 shares during the last quarter. Norges Bank bought a new stake in shares of Cousins Properties during the fourth quarter worth about $53,063,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Cousins Properties in the 1st quarter worth about $1,773,000. Finally, Strs Ohio raised its holdings in shares of Cousins Properties by 18.5% in the 4th quarter. Strs Ohio now owns 474,976 shares of the real estate investment trust’s stock worth $12,245,000 after acquiring an additional 74,207 shares during the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CUZ shares. Wells Fargo & Company lifted their price target on Cousins Properties from $28.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Mizuho raised their target price on Cousins Properties from $27.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Evercore reaffirmed an “outperform” rating and set a $34.00 target price on shares of Cousins Properties in a research report on Monday, July 6th. Weiss Ratings raised Cousins Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 25th. Finally, Barclays raised their price objective on Cousins Properties from $28.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.91.

Cousins Properties Price Performance

Cousins Properties stock opened at $31.74 on Wednesday. Cousins Properties Incorporated has a 52 week low of $21.03 and a 52 week high of $32.35. The company’s 50 day moving average price is $29.28 and its two-hundred day moving average price is $26.06. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.83. The stock has a market cap of $5.22 billion, a P/E ratio of -1,057.78, a P/E/G ratio of 2.35 and a beta of 1.19.

Cousins Properties (NYSE:CUZ) last announced its 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). The business had revenue of $263.11 million during the quarter, compared to analysts’ expectations of $256.77 million. Cousins Properties had a negative return on equity of 0.11% and a negative net margin of 0.52%.Cousins Properties’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, equities analysts predict that Cousins Properties Incorporated will post 2.95 earnings per share for the current year.

Cousins Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Monday, July 6th were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.28 annualized dividend and a yield of 4.0%. Cousins Properties’s payout ratio is currently -4,266.67%.

Cousins Properties Company Profile

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.