Waterfront Capital Partners LLC Decreases Holdings in Cousins Properties Incorporated (NYSE:CUZ)

Waterfront Capital Partners LLC reduced its holdings in Cousins Properties Incorporated (NYSE:CUZ) by 14.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 837,070 shares of the real estate investment trust’s stock after selling 145,379 shares during the quarter. Cousins Properties accounts for about 3.4% of Waterfront Capital Partners LLC’s investment portfolio, making the stock its 10th largest position. Waterfront Capital Partners LLC owned 0.55% of Cousins Properties worth $24,677,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cousins Properties by 411.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,113,403 shares of the real estate investment trust’s stock worth $32,823,000 after purchasing an additional 895,917 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cousins Properties by 3.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,786 shares of the real estate investment trust’s stock worth $1,792,000 after purchasing an additional 1,882 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Cousins Properties by 33.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 12,543 shares of the real estate investment trust’s stock worth $370,000 after purchasing an additional 3,171 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Cousins Properties by 24.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 113,081 shares of the real estate investment trust’s stock worth $3,334,000 after purchasing an additional 22,169 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Cousins Properties by 69.8% in the 3rd quarter. FMR LLC now owns 19,161 shares of the real estate investment trust’s stock worth $565,000 after purchasing an additional 7,877 shares in the last quarter. 94.38% of the stock is currently owned by institutional investors.

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.13, for a total value of $168,695.61. Following the completion of the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This represents a 32.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Truist Financial increased their target price on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI increased their target price on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a report on Monday, September 16th. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Barclays increased their target price on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Cousins Properties Trading Up 0.6 %

NYSE CUZ opened at $31.94 on Friday. Cousins Properties Incorporated has a fifty-two week low of $19.48 and a fifty-two week high of $32.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50 day simple moving average of $30.56 and a two-hundred day simple moving average of $27.10. The stock has a market cap of $4.86 billion, a P/E ratio of 96.79, a price-to-earnings-growth ratio of 4.25 and a beta of 1.29.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.60). Cousins Properties had a return on equity of 1.14% and a net margin of 6.17%. The business had revenue of $209.21 million during the quarter, compared to analysts’ expectations of $212.54 million. During the same quarter last year, the business posted $0.65 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast that Cousins Properties Incorporated will post 2.68 earnings per share for the current year.

Cousins Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is currently 387.88%.

Cousins Properties 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.