New York State Teachers Retirement System Sells 36,950 Shares of Cousins Properties Incorporated (NYSE:CUZ)

New York State Teachers Retirement System cut its holdings in Cousins Properties Incorporated (NYSE:CUZ) by 19.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 151,232 shares of the real estate investment trust’s stock after selling 36,950 shares during the period. New York State Teachers Retirement System owned 0.10% of Cousins Properties worth $4,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Swedbank AB purchased a new stake in Cousins Properties in the 1st quarter worth $14,306,000. Vanguard Group Inc. grew its stake in shares of Cousins Properties by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock worth $561,412,000 after buying an additional 456,251 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Cousins Properties by 92.8% in the 2nd quarter. Marshall Wace LLP now owns 853,456 shares of the real estate investment trust’s stock worth $19,758,000 after buying an additional 410,726 shares during the last quarter. Centersquare Investment Management LLC increased its stake in Cousins Properties by 8.9% during the first quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust’s stock worth $112,377,000 after acquiring an additional 399,468 shares during the last quarter. Finally, LSV Asset Management raised its holdings in Cousins Properties by 37.9% during the 2nd quarter. LSV Asset Management now owns 849,927 shares of the real estate investment trust’s stock valued at $19,676,000 after buying an additional 233,744 shares during the period. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Price Performance

Shares of CUZ stock opened at $31.43 on Thursday. The stock’s 50-day simple moving average is $29.75 and its 200-day simple moving average is $26.25. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 95.24, a PEG ratio of 4.54 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.17 and a current ratio of 1.17. Cousins Properties Incorporated has a fifty-two week low of $17.85 and a fifty-two week high of $32.17.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The firm had revenue of $209.21 million during the quarter, compared to analyst estimates of $212.54 million. During the same period in the prior year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that Cousins Properties Incorporated will post 2.67 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s payout ratio is 387.88%.

Insider Buying and Selling at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the sale, the chief accounting officer now owns 12,529 shares of the company’s stock, 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 through this link. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CUZ shares. Robert W. Baird raised their price objective on shares of Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday. Evercore ISI increased 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. Truist Financial lifted their price objective on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 30th. Barclays lifted their price target on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Cousins Properties 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.