Renaissance Technologies LLC Sells 237,400 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Renaissance Technologies LLC decreased its position in shares of Cousins Properties Incorporated (NYSE:CUZ) by 89.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,131 shares of the real estate investment trust’s stock after selling 237,400 shares during the period. Renaissance Technologies LLC’s holdings in Cousins Properties were worth $674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Cousins Properties by 130.8% in the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 858 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Cousins Properties by 3,236.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,586 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in Cousins Properties in the 1st quarter worth approximately $43,000. Acadian Asset Management LLC boosted its stake in Cousins Properties by 46.4% in the 2nd quarter. Acadian Asset Management LLC now owns 6,086 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 1,928 shares during the period. Finally, Westend Capital Management LLC purchased a new stake in Cousins Properties during the 1st quarter valued at approximately $184,000. Institutional investors own 94.38% of the company’s stock.

Cousins Properties Stock Up 0.1 %

Shares of NYSE CUZ opened at $28.66 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. Cousins Properties Incorporated has a 12-month low of $17.40 and a 12-month high of $30.50. The firm’s 50-day moving average price is $28.26 and its 200-day moving average price is $25.09. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 58.48, a P/E/G ratio of 4.90 and a beta of 1.30.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). The company had revenue of $212.98 million for the quarter, compared to analysts’ expectations of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $2.75 earnings per share. On average, equities research analysts anticipate that Cousins Properties Incorporated will post 2.67 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is 261.22%.

Insider Buying and Selling at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the sale, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at $352,440.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CUZ has been the topic of several research analyst reports. Barclays boosted their target price on shares of Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Robert W. Baird boosted their price target on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Truist Financial lifted their target price on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Evercore ISI increased their price target on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.29.

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.