Cousins Properties Inc (NYSE:CUZ) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 5,567,900 shares, a decline of 79.5% from the May 30th total of 27,096,500 shares. Based on an average daily trading volume, of 2,340,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.3% of the shares of the stock are sold short.
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Cousins Properties by 38.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,592,986 shares of the real estate investment trust’s stock worth $150,628,000 after buying an additional 4,367,872 shares during the last quarter. Northern Trust Corp lifted its position in Cousins Properties by 1.5% in the 4th quarter. Northern Trust Corp now owns 11,594,653 shares of the real estate investment trust’s stock worth $91,599,000 after buying an additional 176,273 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Cousins Properties by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,700,126 shares of the real estate investment trust’s stock worth $76,630,000 after buying an additional 48,160 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in Cousins Properties by 0.6% in the 1st quarter. Frontier Capital Management Co. LLC now owns 6,756,986 shares of the real estate investment trust’s stock worth $65,272,000 after buying an additional 37,326 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in Cousins Properties by 11.7% in the 1st quarter. Duff & Phelps Investment Management Co. now owns 6,669,918 shares of the real estate investment trust’s stock worth $64,431,000 after buying an additional 696,705 shares during the last quarter.
Several brokerages have recently commented on CUZ. Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $10.67.
Shares of NYSE CUZ traded up $0.09 during midday trading on Friday, hitting $37.71. 1,085,332 shares of the company’s stock were exchanged, compared to its average volume of 3,765,639. Cousins Properties has a 12-month low of $30.12 and a 12-month high of $40.40. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $3.96 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 3.24 and a beta of 0.90. The firm has a fifty day moving average price of $23.91.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $0.20 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.20. Cousins Properties had a return on equity of 3.49% and a net margin of 20.18%. The company had revenue of $123.30 million during the quarter, compared to analyst estimates of $122.55 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Cousins Properties’s revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Cousins Properties will post 2.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Wednesday, July 3rd will be issued a dividend of $0.29 per share. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $1.16 annualized dividend and a dividend yield of 3.08%. Cousins Properties’s payout ratio is presently 46.03%.
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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