Truist Financial Corp Sells 857 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Truist Financial Corp trimmed its holdings in shares of Cousins Properties Incorporated (NYSE:CUZ) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,549 shares of the real estate investment trust’s stock after selling 857 shares during the quarter. Truist Financial Corp’s holdings in Cousins Properties were worth $314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CUZ. Blue Trust Inc. lifted its holdings in shares of Cousins Properties by 130.8% during the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 858 shares during the period. Versant Capital Management Inc raised its position in Cousins Properties by 3,236.7% during 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 during the last quarter. Abich Financial Wealth Management LLC acquired a new position in Cousins Properties during the 1st quarter worth about $43,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cousins Properties in the 2nd quarter valued at about $115,000. Finally, Acadian Asset Management LLC increased its stake in shares of Cousins Properties by 46.4% in the second quarter. Acadian Asset Management LLC now owns 6,086 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 1,928 shares during the period. 94.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at $352,440.77. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI lifted their price objective on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Barclays boosted their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Robert W. Baird increased their price objective on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial boosted their target price on shares of Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company increased their price target on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cousins Properties presently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Cousins Properties Stock Up 1.0 %

Cousins Properties stock opened at $31.82 on Friday. The company has a market capitalization of $4.84 billion, a PE ratio of 64.94, a PEG ratio of 4.41 and a beta of 1.30. Cousins Properties Incorporated has a 12-month low of $17.40 and a 12-month high of $31.98. The firm’s fifty day moving average is $28.82 and its 200 day moving average is $25.45. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings data 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 company had revenue of $212.98 million for 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%. Cousins Properties’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.75 EPS. As a group, sell-side analysts predict that Cousins Properties Incorporated will post 2.67 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were paid a $0.32 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.02%. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.

Cousins Properties Company 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.