Bank of New York Mellon Corp Purchases 28,554 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Bank of New York Mellon Corp increased its position in Cousins Properties Incorporated (NYSE:CUZ) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,677,240 shares of the real estate investment trust’s stock after buying an additional 28,554 shares during the quarter. Bank of New York Mellon Corp owned 1.10% of Cousins Properties worth $38,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. bought a new stake in Cousins Properties in the 4th quarter worth approximately $31,000. Blue Trust Inc. lifted its position in 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 purchasing an additional 858 shares during the last quarter. Versant Capital Management Inc lifted its position in Cousins Properties by 3,236.7% in the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,586 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in Cousins Properties in the first quarter valued at approximately $43,000. Finally, Westend Capital Management LLC bought a new stake in Cousins Properties in the first quarter valued at approximately $184,000. Institutional investors own 94.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Evercore ISI reiterated an “in-line” rating and issued a $29.00 price objective on shares of Cousins Properties in a research report on Tuesday, August 20th. Robert W. Baird boosted their price objective on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial boosted their price objective on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Barclays upped their target price on Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Cousins Properties presently has an average rating of “Hold” and a consensus price target of $26.43.

Cousins Properties Price Performance

Shares of CUZ stock opened at $28.51 on Tuesday. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 4.68 and a beta of 1.30. The business’s fifty day moving average is $25.68 and its 200 day moving average is $24.03. Cousins Properties Incorporated has a twelve month low of $17.40 and a twelve month high of $28.57. 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 issued its quarterly earnings results 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 firm had revenue of $212.98 million during the quarter, compared to analysts’ expectations of $208.18 million. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. Cousins Properties’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.75 earnings per share. Research analysts expect that Cousins Properties Incorporated will post 2.67 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were paid a $0.32 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.28 annualized dividend and a yield of 4.49%. Cousins Properties’s payout ratio is 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.