Cousins Properties Inc (NYSE:CUZ) was the recipient of a significant growth in short interest in the month of November. As of November 29th, there was short interest totalling 4,410,000 shares, a growth of 6.8% from the November 14th total of 4,130,000 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily volume of 937,400 shares, the days-to-cover ratio is currently 4.7 days.
Several hedge funds have recently added to or reduced their stakes in CUZ. Daiwa Securities Group Inc. raised its stake in Cousins Properties by 676.7% in the third quarter. Daiwa Securities Group Inc. now owns 3,341,932 shares of the real estate investment trust’s stock valued at $125,623,000 after purchasing an additional 2,911,649 shares in the last quarter. Zimmer Partners LP purchased a new stake in Cousins Properties in the third quarter valued at approximately $116,292,000. Duff & Phelps Investment Management Co. raised its stake in Cousins Properties by 0.8% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,180,125 shares of the real estate investment trust’s stock valued at $81,951,000 after purchasing an additional 16,999 shares in the last quarter. Prudential Financial Inc. raised its stake in Cousins Properties by 79.8% in the second quarter. Prudential Financial Inc. now owns 1,280,817 shares of the real estate investment trust’s stock valued at $46,328,000 after purchasing an additional 568,285 shares in the last quarter. Finally, Scout Investments Inc. raised its stake in Cousins Properties by 0.9% in the third quarter. Scout Investments Inc. now owns 1,103,221 shares of the real estate investment trust’s stock valued at $41,470,000 after purchasing an additional 9,854 shares in the last quarter. Institutional investors own 96.53% of the company’s stock.
Shares of CUZ stock traded up $0.04 during trading hours on Friday, reaching $39.46. The stock had a trading volume of 1,385,749 shares, compared to its average volume of 623,610. The stock’s fifty day simple moving average is $40.02 and its 200 day simple moving average is $34.13. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.43. Cousins Properties has a 12 month low of $30.12 and a 12 month high of $41.01. The firm has a market capitalization of $5.87 billion, a PE ratio of 13.75, a PEG ratio of 2.81 and a beta of 0.91.
CUZ has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Cousins Properties from a “hold” rating to a “sell” rating and set a $39.00 price objective for the company. in a research report on Thursday, September 12th. TheStreet upgraded shares of Cousins Properties from a “c” rating to a “b-” rating in a research report on Tuesday, November 12th. Wells Fargo & Co upgraded shares of Cousins Properties from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $38.00 to $42.00 in a research report on Thursday, September 19th. Finally, Stifel Nicolaus set a $42.00 price objective on shares of Cousins Properties and gave the company a “buy” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.50.
About Cousins Properties
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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