Cousins Properties Incorporated (NYSE:CUZ) Shares Sold by abrdn plc

abrdn plc lowered its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,329 shares of the real estate investment trust’s stock after selling 1,528 shares during the period. abrdn plc’s holdings in Cousins Properties were worth $714,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. raised its position in shares of Cousins Properties by 5.2% in the third quarter. Xponance Inc. now owns 19,475 shares of the real estate investment trust’s stock valued at $397,000 after buying an additional 963 shares during the last quarter. New York State Teachers Retirement System increased its stake in Cousins Properties by 1.2% in the third quarter. New York State Teachers Retirement System now owns 164,764 shares of the real estate investment trust’s stock valued at $3,356,000 after purchasing an additional 2,021 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cousins Properties by 3.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,948 shares of the real estate investment trust’s stock worth $1,527,000 after buying an additional 2,614 shares during the period. Strs Ohio boosted its stake in Cousins Properties by 70.7% in the 3rd quarter. Strs Ohio now owns 341,449 shares of the real estate investment trust’s stock worth $6,955,000 after buying an additional 141,470 shares during the last quarter. Finally, Keeler THomas Management LLC acquired a new position in shares of Cousins Properties during the 3rd quarter valued at about $1,898,000. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Price Performance

CUZ opened at $23.26 on Tuesday. Cousins Properties Incorporated has a twelve month low of $17.40 and a twelve month high of $25.19. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 47.46, a PEG ratio of 6.14 and a beta of 1.27. The company has a fifty day simple moving average of $23.04 and a 200 day simple moving average of $22.23.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.54). Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The business had revenue of $209.20 million during the quarter, compared to analyst estimates of $199.35 million. During the same quarter last year, the firm posted $0.65 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts expect that Cousins Properties Incorporated will post 2.62 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, April 4th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 5.50%. The ex-dividend date was Wednesday, April 3rd. Cousins Properties’s dividend payout ratio is currently 261.22%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CUZ shares. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Truist Financial reduced their price target on shares of Cousins Properties from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 16th. Finally, Barclays cut their target price on shares of Cousins Properties from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.67.

About Cousins Properties

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.