Short Interest in Cousins Properties Incorporated (NYSE:CUZ) Expands By 26.7%

Cousins Properties Incorporated (NYSE:CUZ) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,560,000 shares, an increase of 26.7% from the March 31st total of 2,810,000 shares. Based on an average trading volume of 912,600 shares, the short-interest ratio is currently 3.9 days.

Shares of NYSE CUZ traded up $0.55 during midday trading on Tuesday, hitting $36.87. The company’s stock had a trading volume of 828,287 shares, compared to its average volume of 904,459. The stock has a fifty day moving average price of $35.89 and a 200 day moving average price of $33.30. Cousins Properties has a one year low of $22.99 and a one year high of $38.15. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 4.02 and a beta of 1.10.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Thursday, April 29th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. Cousins Properties had a net margin of 45.67% and a return on equity of 7.61%. On average, equities research analysts predict that Cousins Properties will post 2.8 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 19th. Investors of record on Tuesday, April 6th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Monday, April 5th. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.30. Cousins Properties’s dividend payout ratio is 42.18%.

CUZ has been the topic of several research reports. Truist lowered shares of Cousins Properties from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $36.00 to $37.00 in a research report on Friday, January 22nd. Robert W. Baird raised shares of Cousins Properties from a “neutral” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Tuesday, April 20th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $36.63.

In other Cousins Properties news, Director Scott W. Fordham sold 43,750 shares of Cousins Properties stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $36.79, for a total value of $1,609,562.50. Following the sale, the director now owns 194,179 shares of the company’s stock, valued at $7,143,845.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. State of Michigan Retirement System increased its holdings in Cousins Properties by 1.7% during the 1st quarter. State of Michigan Retirement System now owns 55,025 shares of the real estate investment trust’s stock worth $1,945,000 after acquiring an additional 900 shares during the period. Redpoint Investment Management Pty Ltd increased its holdings in Cousins Properties by 6.1% during the 4th quarter. Redpoint Investment Management Pty Ltd now owns 17,062 shares of the real estate investment trust’s stock worth $572,000 after acquiring an additional 981 shares during the period. Nkcfo LLC increased its holdings in Cousins Properties by 0.9% during the 1st quarter. Nkcfo LLC now owns 111,850 shares of the real estate investment trust’s stock worth $3,954,000 after acquiring an additional 1,000 shares during the period. Montag A & Associates Inc. bought a new stake in Cousins Properties during the 4th quarter worth approximately $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cousins Properties by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,678 shares of the real estate investment trust’s stock worth $2,435,000 after acquiring an additional 1,193 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

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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