Russell Investments Group Ltd. Decreases Stock Position in Cousins Properties Inc (NYSE:CUZ)
Russell Investments Group Ltd. lessened its stake in Cousins Properties Inc (NYSE:CUZ) by 76.6% in the second quarter, Holdings Channel reports. The fund owned 166,441 shares of the real estate investment trust’s stock after selling 543,792 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cousins Properties were worth $6,021,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sun Life Financial INC purchased a new position in Cousins Properties in the 2nd quarter worth approximately $251,000. Prudential Financial Inc. boosted its stake in shares of Cousins Properties by 79.8% during the 2nd quarter. Prudential Financial Inc. now owns 1,280,817 shares of the real estate investment trust’s stock valued at $46,328,000 after buying an additional 568,285 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Cousins Properties during the 2nd quarter valued at approximately $20,431,000. Landscape Capital Management L.L.C. purchased a new position in shares of Cousins Properties during the 2nd quarter valued at approximately $2,326,000. Finally, Centersquare Investment Management LLC purchased a new position in shares of Cousins Properties during the 2nd quarter valued at approximately $2,456,000. Hedge funds and other institutional investors own 92.99% of the company’s stock.
Several equities analysts have recently commented on the company. ValuEngine cut Cousins Properties from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research cut Cousins Properties from a “hold” rating to a “sell” rating and set a $39.00 target price for the company. in a research note on Thursday.
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 the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). The business had revenue of $134.93 million for the quarter, compared to analysts’ expectations of $150.56 million. Cousins Properties had a net margin of 10.61% and a return on equity of 1.71%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. Equities research analysts forecast that Cousins Properties Inc will post 2.89 EPS for the current year.
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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