Duff & Phelps Investment Management Co. Buys 552,600 Shares of Cousins Properties Incorporated (CUZ)
Duff & Phelps Investment Management Co. increased its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 13.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,625,094 shares of the real estate investment trust’s stock after buying an additional 552,600 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Cousins Properties were worth $40,655,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI raised its stake in Cousins Properties by 14.0% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,553 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 1,545 shares during the last quarter. Glen Harbor Capital Management LLC increased its position in shares of Cousins Properties by 46.6% in the first quarter. Glen Harbor Capital Management LLC now owns 14,388 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 4,576 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cousins Properties during the first quarter valued at approximately $121,000. Oakbrook Investments LLC increased its position in shares of Cousins Properties by 7.0% in the first quarter. Oakbrook Investments LLC now owns 15,200 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 1,000 shares during the period. Finally, Elkfork Partners LLC increased its position in shares of Cousins Properties by 46.6% in the first quarter. Elkfork Partners LLC now owns 18,312 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 5,824 shares during the period.
Cousins Properties Incorporated (NYSE CUZ) opened at 9.08 on Friday. The company has a market cap of $3.81 billion, a P/E ratio of 14.57 and a beta of 1.07. Cousins Properties Incorporated has a 12 month low of $7.09 and a 12 month high of $11.40. The firm has a 50-day moving average price of $8.96 and a 200 day moving average price of $8.61.
Cousins Properties (NYSE:CUZ) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. Cousins Properties had a return on equity of 9.37% and a net margin of 49.99%. The company had revenue of $119 million for the quarter, compared to the consensus estimate of $114.68 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 146.4% on a year-over-year basis. Equities research analysts predict that Cousins Properties Incorporated will post $0.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Monday, July 3rd were given a $0.06 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.24 dividend on an annualized basis and a yield of 2.64%. Cousins Properties’s dividend payout ratio is currently 42.11%.
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Several equities analysts have commented on CUZ shares. Zacks Investment Research raised Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Wednesday, July 5th. ValuEngine downgraded Cousins Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Robert W. Baird raised Cousins Properties from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $9.00 to $10.00 in a research report on Tuesday, May 16th. BidaskClub downgraded Cousins Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus raised Cousins Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $8.50 to $10.50 in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cousins Properties currently has an average rating of “Buy” and a consensus target price of $10.17.
In other Cousins Properties news, Director Lillian C. Giornelli sold 5,006 shares of Cousins Properties stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $8.38, for a total value of $41,950.28. Following the sale, the director now owns 102,307 shares in the company, valued at $857,332.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.14% of the stock is owned by insiders.
Cousins Properties Company Profile
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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