Cousins Properties Incorporated (NYSE:CUZ) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in Cousins Properties Incorporated (NYSE:CUZ) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 516,983 shares of the real estate investment trust’s stock after selling 159,333 shares during the period. Bank of America Corp DE owned approximately 0.33% of Cousins Properties worth $15,840,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jones Financial Companies Lllp increased its holdings in shares of Cousins Properties by 1,609.3% in the 4th quarter. Jones Financial Companies Lllp now owns 923 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 869 shares during the period. UMB Bank n.a. increased its stake in Cousins Properties by 67.4% in the 4th quarter. UMB Bank n.a. now owns 981 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 395 shares during the period. FIL Ltd lifted its position in Cousins Properties by 24.6% in the 4th quarter. FIL Ltd now owns 3,262 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 643 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Cousins Properties by 473.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,301 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 3,551 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Cousins Properties by 9.4% during the 4th quarter. Quarry LP now owns 4,351 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 375 shares during the period. Institutional investors and hedge funds own 94.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CUZ. Robert W. Baird decreased their target price on shares of Cousins Properties from $34.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. Wells Fargo & Company lowered their target price on shares of Cousins Properties from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group initiated coverage on Cousins Properties in a research report on Monday, March 17th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Evercore ISI upped their price target on Cousins Properties from $30.00 to $31.00 and gave the stock an “in-line” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.60.

Cousins Properties Stock Performance

CUZ opened at $27.59 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.74 and a current ratio of 0.74. Cousins Properties Incorporated has a 52-week low of $22.01 and a 52-week high of $32.55. The firm has a market cap of $4.63 billion, a P/E ratio of 91.97, a price-to-earnings-growth ratio of 2.98 and a beta of 1.34. The business’s fifty day moving average is $27.91 and its 200-day moving average is $29.54.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. The business had revenue of $6.81 million for the quarter, compared to analyst estimates of $238.49 million. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. Cousins Properties’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. Sell-side analysts expect that Cousins Properties Incorporated will post 2.76 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date was Thursday, April 3rd. Cousins Properties’s payout ratio is 387.88%.

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.