Jane Street Group LLC boosted its stake in shares of Cousins Properties Inc (NYSE:CUZ) by 1,257.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 441,012 shares of the real estate investment trust’s stock after purchasing an additional 408,527 shares during the period. Jane Street Group LLC owned about 0.30% of Cousins Properties worth $15,951,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV purchased a new position in Cousins Properties during the second quarter valued at $26,000. Pflug Koory LLC purchased a new position in shares of Cousins Properties in the second quarter valued at about $25,000. Edge Wealth Management LLC purchased a new position in shares of Cousins Properties in the second quarter valued at about $26,000. Legacy Bridge LLC purchased a new position in shares of Cousins Properties in the second quarter valued at about $36,000. Finally, Hanson McClain Inc. purchased a new position in shares of Cousins Properties in the second quarter valued at about $41,000. Institutional investors own 92.95% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Wells Fargo & Co raised Cousins Properties from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $38.00 to $42.00 in a report on Thursday. ValuEngine cut Cousins Properties from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research cut Cousins Properties from a “hold” rating to a “sell” rating and set a $39.00 price objective on the stock. in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Cousins Properties has an average rating of “Hold” and a consensus target price of $30.67.
Cousins Properties (NYSE:CUZ) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The business had revenue of $134.93 million for the quarter, compared to the consensus estimate of $150.56 million. Cousins Properties had a net margin of 10.61% and a return on equity of 1.71%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 EPS. As a group, sell-side analysts anticipate that Cousins Properties Inc will post 2.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.10%. Cousins Properties’s dividend payout ratio is 46.03%.
Cousins Properties Company 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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