Cousins Properties Incorporated (NYSE:CUZ) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 57.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 212,565 shares of the real estate investment trust’s stock after selling 292,013 shares during the period. Hsbc Holdings PLC owned approximately 0.14% of Cousins Properties worth $4,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Securities Inc. acquired a new stake in Cousins Properties in the fourth quarter valued at approximately $31,000. Norges Bank acquired a new stake in Cousins Properties in the 4th quarter valued at $35,502,000. UBS Group AG increased its holdings in Cousins Properties by 100.7% in the 4th quarter. UBS Group AG now owns 261,192 shares of the real estate investment trust’s stock worth $6,360,000 after acquiring an additional 131,054 shares in the last quarter. Wells Fargo & Company MN raised its position in Cousins Properties by 7.4% during the fourth quarter. Wells Fargo & Company MN now owns 403,193 shares of the real estate investment trust’s stock worth $9,818,000 after acquiring an additional 27,788 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Cousins Properties by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 381,672 shares of the real estate investment trust’s stock valued at $9,294,000 after purchasing an additional 7,409 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Stock Up 1.2 %

NYSE CUZ opened at $30.20 on Wednesday. The business’s fifty day simple moving average is $27.52 and its 200-day simple moving average is $24.68. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. The firm has a market cap of $4.59 billion, a PE ratio of 61.63, a P/E/G ratio of 4.73 and a beta of 1.31. Cousins Properties Incorporated has a 52 week low of $17.40 and a 52 week high of $30.50.

Cousins Properties (NYSE:CUZ) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.61). The firm had revenue of $212.98 million during the quarter, compared to analyst estimates of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.75 earnings per share. As a group, equities analysts anticipate that Cousins Properties Incorporated will post 2.67 earnings per share for the current year.

Cousins Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.28 annualized dividend and a yield of 4.24%. Cousins Properties’s dividend payout ratio (DPR) is 261.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company increased their target price on Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Robert W. Baird lifted their price target on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Barclays boosted their price target on Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI raised their price objective on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.29.

Insider Buying and Selling at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.

Cousins Properties Profile

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.