Metropolitan Life Insurance Co. NY decreased its stake in Cousins Properties Inc (NYSE:CUZ) by 62.2% during the 4th quarter, Holdings Channel reports. The firm owned 259,259 shares of the real estate investment trust’s stock after selling 427,211 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Cousins Properties were worth $2,398,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank lifted its holdings in shares of Cousins Properties by 2.3% in the 4th quarter. Swiss National Bank now owns 715,403 shares of the real estate investment trust’s stock worth $6,617,000 after purchasing an additional 15,900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cousins Properties by 21.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,061 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 6,359 shares during the period. Virtus Fund Advisers LLC increased its position in Cousins Properties by 7.9% in the 4th quarter. Virtus Fund Advisers LLC now owns 5,945,500 shares of the real estate investment trust’s stock valued at $55,353,000 after acquiring an additional 435,900 shares during the period. GSA Capital Partners LLP acquired a new stake in Cousins Properties in the 3rd quarter valued at approximately $1,381,000. Finally, Schwab Charles Investment Management Inc. increased its position in Cousins Properties by 13.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 4,928,258 shares of the real estate investment trust’s stock valued at $45,587,000 after acquiring an additional 569,820 shares during the period.
Several analysts recently commented on CUZ shares. Bank of America upgraded Cousins Properties from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Monday, December 4th. SunTrust Banks set a $10.00 target price on Cousins Properties and gave the company a “buy” rating in a research report on Wednesday, February 14th. Zacks Investment Research cut Cousins Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, ValuEngine cut Cousins Properties from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $10.10.
Cousins Properties (NYSE:CUZ) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.07). Cousins Properties had a net margin of 46.90% and a return on equity of 7.77%. The business had revenue of $109.94 million during the quarter, compared to analyst estimates of $109.05 million. equities analysts anticipate that Cousins Properties Inc will post 0.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Tuesday, April 3rd will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, April 2nd. This is a boost from Cousins Properties’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a dividend yield of 3.13%. Cousins Properties’s dividend payout ratio (DPR) is 47.06%.
About Cousins Properties
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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