World Asset Management Inc lowered its stake in Cousins Properties Inc (NYSE:CUZ) by 65.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,839 shares of the real estate investment trust’s stock after selling 12,902 shares during the quarter. World Asset Management Inc’s holdings in Cousins Properties were worth $247,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Edge Wealth Management LLC acquired a new position in Cousins Properties in the second quarter valued at about $26,000. Legacy Bridge LLC acquired a new stake in shares of Cousins Properties during the second quarter worth about $36,000. Sound Income Strategies LLC acquired a new stake in shares of Cousins Properties during the second quarter worth about $41,000. Nordea Investment Management AB lifted its position in shares of Cousins Properties by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 173,000 shares of the real estate investment trust’s stock worth $1,367,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Cousins Properties by 0.4% during the first quarter. Retirement Systems of Alabama now owns 547,238 shares of the real estate investment trust’s stock worth $5,286,000 after purchasing an additional 2,185 shares in the last quarter.
Several analysts have recently issued reports on CUZ shares. ValuEngine cut shares of Cousins Properties from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th.
Cousins Properties (NYSE:CUZ) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.01). Cousins Properties had a return on equity of 1.71% and a net margin of 10.61%. The firm had revenue of $134.93 million for the quarter, compared to analysts’ expectations of $150.56 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, research analysts predict that Cousins Properties Inc will post 2.88 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.47%. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, July 2nd. Cousins Properties’s dividend payout ratio is presently 46.03%.
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.
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