Comerica Bank trimmed its position in Cousins Properties Inc (NYSE:CUZ) by 27.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 316,396 shares of the real estate investment trust’s stock after selling 119,578 shares during the period. Comerica Bank’s holdings in Cousins Properties were worth $2,974,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Cousins Properties by 8.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 434,288 shares of the real estate investment trust’s stock valued at $4,208,000 after buying an additional 33,212 shares during the period. Virtu Financial LLC grew its holdings in Cousins Properties by 84.6% in the 2nd quarter. Virtu Financial LLC now owns 23,807 shares of the real estate investment trust’s stock valued at $231,000 after buying an additional 10,911 shares during the period. Dupont Capital Management Corp grew its holdings in Cousins Properties by 18.8% in the 2nd quarter. Dupont Capital Management Corp now owns 117,307 shares of the real estate investment trust’s stock valued at $1,137,000 after buying an additional 18,551 shares during the period. Hartford Investment Management Co. purchased a new stake in Cousins Properties in the 2nd quarter valued at about $203,000. Finally, Scout Investments Inc. grew its holdings in Cousins Properties by 1.1% in the 2nd quarter. Scout Investments Inc. now owns 4,344,737 shares of the real estate investment trust’s stock valued at $42,101,000 after buying an additional 48,499 shares during the period.
CUZ opened at $9.38 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 4.61 and a beta of 0.93. Cousins Properties Inc has a 12 month low of $8.23 and a 12 month high of $9.88.
Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.10). The business had revenue of $113.70 million during the quarter, compared to analysts’ expectations of $115.28 million. Cousins Properties had a net margin of 17.63% and a return on equity of 2.86%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. sell-side analysts forecast that Cousins Properties Inc will post 0.61 EPS for the current fiscal year.
In other news, insider John S. Mccoll sold 14,333 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $9.26, for a total transaction of $132,723.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.94% of the stock is owned by insiders.
CUZ has been the subject of several recent analyst reports. Zacks Investment Research cut Cousins Properties from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. SunTrust Banks restated a “buy” rating and issued a $10.00 price target on shares of Cousins Properties in a report on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $10.00.
Cousins Properties Company Profile
Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, acting through its operating partnership, Cousins Properties LP, primarily invests in Class-A office towers located in high growth Sunbelt markets.
Further Reading: Asset Allocation and Your Retirement
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