BNP Paribas Arbitrage SA Trims Position in Cousins Properties Inc (CUZ)

BNP Paribas Arbitrage SA trimmed its holdings in Cousins Properties Inc (NYSE:CUZ) by 64.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,055 shares of the real estate investment trust’s stock after selling 310,313 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Cousins Properties were worth $1,658,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hartford Investment Management Co. purchased a new position in Cousins Properties in the 2nd quarter valued at approximately $203,000. Scout Investments Inc. boosted its position in Cousins Properties by 1.1% in the 2nd quarter. Scout Investments Inc. now owns 4,344,737 shares of the real estate investment trust’s stock valued at $42,101,000 after buying an additional 48,499 shares during the period. Clinton Group Inc. purchased a new position in Cousins Properties in the 2nd quarter valued at approximately $289,000. Principal Financial Group Inc. boosted its position in Cousins Properties by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,852,458 shares of the real estate investment trust’s stock valued at $16,080,000 after buying an additional 52,157 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. boosted its position in Cousins Properties by 53.4% in the 1st quarter. Dalton Greiner Hartman Maher & Co. now owns 2,781,325 shares of the real estate investment trust’s stock valued at $24,142,000 after buying an additional 967,783 shares during the period.

Several brokerages have commented on CUZ. Zacks Investment Research cut shares of Cousins Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. SunTrust Banks reissued a “buy” rating and issued a $10.00 price target on shares of Cousins Properties in a research report on Thursday, July 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Cousins Properties has an average rating of “Buy” and a consensus price target of $10.00.

In other news, insider John S. Mccoll sold 14,333 shares of Cousins Properties stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $9.26, for a total transaction of $132,723.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is currently owned by insiders.

Shares of Cousins Properties stock traded down $0.03 during trading on Friday, hitting $9.35. 3,465,600 shares of the stock were exchanged, compared to its average volume of 3,885,463. The stock has a market cap of $3.98 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 4.67 and a beta of 0.93. Cousins Properties Inc has a 12-month low of $8.23 and a 12-month high of $9.88. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.39.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.10). The firm had revenue of $113.70 million for the quarter, compared to analysts’ expectations of $115.28 million. Cousins Properties had a return on equity of 2.86% and a net margin of 17.63%. Cousins Properties’s revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. sell-side analysts forecast that Cousins Properties Inc will post 0.61 earnings per share for the current fiscal year.

Cousins Properties Profile

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.

Further Reading: Relative Strength Index

Institutional Ownership by Quarter for Cousins Properties (NYSE:CUZ)

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