SummitTX Capital L.P. Has $1.26 Million Stake in Cousins Properties Incorporated $CUZ

SummitTX Capital L.P. cut its holdings in Cousins Properties Incorporated (NYSE:CUZ) by 75.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,804 shares of the real estate investment trust’s stock after selling 172,814 shares during the quarter. SummitTX Capital L.P.’s holdings in Cousins Properties were worth $1,259,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position in shares of Cousins Properties by 128.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,232 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 692 shares during the last quarter. Avalon Trust Co acquired a new stake in shares of Cousins Properties during the first quarter worth $39,000. Arax Advisory Partners bought a new stake in Cousins Properties in the fourth quarter valued at about $39,000. Clearstead Advisors LLC boosted its holdings in Cousins Properties by 176.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,803 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,150 shares during the last quarter. Finally, SJS Investment Consulting Inc. acquired a new position in shares of Cousins Properties during the 1st quarter worth about $50,000. Institutional investors and hedge funds own 94.38% of the company’s stock.

Cousins Properties Stock Performance

Shares of CUZ stock opened at $32.28 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $5.31 billion, a P/E ratio of -1,075.61, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. The company’s 50 day moving average price is $29.40 and its two-hundred day moving average price is $26.10. Cousins Properties Incorporated has a 52 week low of $21.03 and a 52 week high of $32.95.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.21). Cousins Properties had a negative return on equity of 0.11% and a negative net margin of 0.52%.The company had revenue of $263.11 million for the quarter, compared to the consensus estimate of $256.77 million. During the same period in the prior year, the company earned $0.74 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. On average, analysts expect that Cousins Properties Incorporated will post 2.95 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Mizuho increased their price target on shares of Cousins Properties from $27.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Cousins Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. Wells Fargo & Company lifted their price target on shares of Cousins Properties from $28.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Evercore reissued an “outperform” rating and issued a $34.00 price target on shares of Cousins Properties in a report on Monday, July 6th. Finally, Truist Financial raised their price objective on Cousins Properties from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.91.

About Cousins Properties

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.