Cousins Properties Inc (NYSE:CUZ) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,586,600 shares, a growth of 16.4% from the July 31st total of 3,081,300 shares. Based on an average daily trading volume, of 2,350,000 shares, the short-interest ratio is presently 1.5 days. Currently, 2.5% of the shares of the company are sold short.
Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Cousins Properties from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research cut shares of Cousins Properties from a “hold” rating to a “sell” rating and set a $39.00 target price for the company. in a report on Thursday.
Shares of Cousins Properties stock traded down $0.44 during trading on Friday, hitting $35.58. 522,986 shares of the company’s stock were exchanged, compared to its average volume of 920,144. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72. The business has a 50-day simple moving average of $34.54 and a 200-day simple moving average of $21.03. Cousins Properties has a 52-week low of $30.12 and a 52-week high of $40.40. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 3.74 and a beta of 0.90.
Cousins Properties (NYSE:CUZ) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). Cousins Properties had a return on equity of 1.71% and a net margin of 10.61%. The business had revenue of $134.93 million for the quarter, compared to analysts’ expectations of $150.56 million. During the same period last year, the business earned $0.15 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts anticipate that Cousins Properties will post 2.89 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of CUZ. Geode Capital Management LLC raised its holdings in shares of Cousins Properties by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 5,572,920 shares of the real estate investment trust’s stock worth $44,025,000 after purchasing an additional 373,383 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Cousins Properties by 1.2% during the first quarter. Rhumbline Advisers now owns 1,378,212 shares of the real estate investment trust’s stock worth $13,314,000 after purchasing an additional 16,562 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of Cousins Properties by 3.8% during the first quarter. Texas Permanent School Fund now owns 285,435 shares of the real estate investment trust’s stock worth $2,757,000 after purchasing an additional 10,340 shares during the last quarter. California Public Employees Retirement System increased its holdings in Cousins Properties by 0.7% in the first quarter. California Public Employees Retirement System now owns 615,782 shares of the real estate investment trust’s stock valued at $5,948,000 after buying an additional 4,086 shares in the last quarter. Finally, First Mercantile Trust Co. increased its holdings in Cousins Properties by 152.2% in the first quarter. First Mercantile Trust Co. now owns 21,011 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 12,681 shares in the last quarter. 92.99% of the stock is owned by hedge funds and other institutional investors.
About Cousins Properties
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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