Cbre Clarion Securities LLC trimmed its position in Cousins Properties Incorporated (NYSE:CUZ) by 51.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 602,430 shares of the real estate investment trust’s stock after selling 633,800 shares during the period. Cbre Clarion Securities LLC owned 0.41% of Cousins Properties worth $21,296,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in CUZ. Norges Bank bought a new position in shares of Cousins Properties in the 4th quarter valued at $52,548,000. Kohlberg Kravis Roberts & Co. L.P. raised its position in Cousins Properties by 56.6% during the 4th quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 3,082,280 shares of the real estate investment trust’s stock worth $103,256,000 after purchasing an additional 1,113,672 shares during the last quarter. JPMorgan Chase & Co. raised its position in Cousins Properties by 14.9% during the 4th quarter. JPMorgan Chase & Co. now owns 5,673,337 shares of the real estate investment trust’s stock worth $190,058,000 after purchasing an additional 734,350 shares during the last quarter. Alliancebernstein L.P. raised its position in Cousins Properties by 19.0% during the 1st quarter. Alliancebernstein L.P. now owns 4,375,811 shares of the real estate investment trust’s stock worth $154,685,000 after purchasing an additional 699,077 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in Cousins Properties by 38.9% during the 4th quarter. Schroder Investment Management Group now owns 1,465,493 shares of the real estate investment trust’s stock worth $49,094,000 after purchasing an additional 410,474 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.
Cousins Properties stock traded down $0.03 during trading hours on Friday, reaching $39.55. 23,041 shares of the company’s stock were exchanged, compared to its average volume of 917,022. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50 day moving average price is $36.44. Cousins Properties Incorporated has a twelve month low of $24.17 and a twelve month high of $39.59. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 63.84, a PEG ratio of 3.01 and a beta of 1.04.
The company also recently announced a quarterly dividend, which was paid on Monday, April 19th. Stockholders of record on Tuesday, April 6th were paid a $0.31 dividend. The ex-dividend date was Monday, April 5th. This is an increase from Cousins Properties’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 3.14%. Cousins Properties’s dividend payout ratio (DPR) is currently 44.60%.
Separately, Robert W. Baird raised Cousins Properties from a “neutral” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Wednesday, April 14th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $36.63.
In other news, Director Scott W. Fordham sold 43,750 shares of the firm’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $36.79, for a total value of $1,609,562.50. Following the completion of the sale, the director now directly owns 194,179 shares in the company, valued at approximately $7,143,845.41. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.
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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