Mutual of America Capital Management LLC Sells 8,366 Shares of Cousins Properties Incorporated (NYSE:CUZ)

by · The Markets Daily

Mutual of America Capital Management LLC trimmed its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ – Free Report) by 3.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 236,450 shares of the real estate investment trust’s stock after selling 8,366 shares during the period. Mutual of America Capital Management LLC owned approximately 0.16% of Cousins Properties worth $6,971,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Metis Global Partners LLC grew its stake in shares of Cousins Properties by 31.4% in the 3rd quarter. Metis Global Partners LLC now owns 15,666 shares of the real estate investment trust’s stock valued at $462,000 after purchasing an additional 3,747 shares during the period. KBC Group NV grew its position in Cousins Properties by 22.5% in the third quarter. KBC Group NV now owns 4,892 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 897 shares during the period. Victory Capital Management Inc. raised its stake in Cousins Properties by 3.7% during the third quarter. Victory Capital Management Inc. now owns 67,728 shares of the real estate investment trust’s stock worth $1,997,000 after acquiring an additional 2,418 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Cousins Properties by 368.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,947 shares of the real estate investment trust’s stock valued at $23,052,000 after acquiring an additional 615,118 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of Cousins Properties in the 3rd quarter valued at $511,000. Institutional investors own 94.38% of the company’s stock.

Cousins Properties Stock Up 0.5 %

NYSE:CUZ opened at $30.81 on Tuesday. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 93.36, a P/E/G ratio of 4.95 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s fifty day moving average price is $30.17 and its two-hundred day moving average price is $26.68. Cousins Properties Incorporated has a 52-week low of $19.45 and a 52-week high of $32.44.

Cousins Properties (NYSE:CUZ – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.60). The firm had revenue of $209.21 million for the quarter, compared to analyst estimates of $212.54 million. Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. On average, analysts anticipate that Cousins Properties Incorporated will post 2.68 EPS for the current year.

Cousins Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is 387.88%.

Analyst Ratings Changes

Several brokerages recently issued reports on CUZ. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Robert W. Baird lifted their target price on shares of Cousins Properties from $31.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Truist Financial increased their price target on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price objective on Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Barclays increased their target price on Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Get Our Latest Analysis on Cousins Properties

Insider Buying and Selling

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the transaction, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This trade represents a 32.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.

Cousins Properties Company Profile

(Free Report)

Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.

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