BlackRock Advisors LLC boosted its position in Cousins Properties Incorporated (NYSE:CUZ) by 11.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,774 shares of the real estate investment trust’s stock after buying an additional 11,142 shares during the period. BlackRock Advisors LLC’s holdings in Cousins Properties were worth $1,146,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in Cousins Properties by 416.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,040,674 shares of the real estate investment trust’s stock worth $59,250,000 after buying an additional 6,483,437 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Cousins Properties during the second quarter valued at $30,117,000. Bank of New York Mellon Corp increased its position in Cousins Properties by 80.3% in the third quarter. Bank of New York Mellon Corp now owns 5,021,049 shares of the real estate investment trust’s stock valued at $52,419,000 after buying an additional 2,235,517 shares in the last quarter. Henderson Group PLC bought a new position in Cousins Properties during the third quarter valued at $14,747,000. Finally, Landscape Capital Management L.L.C. bought a new position in Cousins Properties during the second quarter valued at $5,099,000. 59.48% of the stock is currently owned by institutional investors and hedge funds.
Cousins Properties Incorporated (NYSE:CUZ) opened at 8.51 on Friday. The firm has a 50-day moving average price of $8.38 and a 200 day moving average price of $7.83. Cousins Properties Incorporated has a 12 month low of $5.31 and a 12 month high of $8.71. The company has a market cap of $3.35 billion, a P/E ratio of 18.34 and a beta of 1.13.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 19th. Shareholders of record on Friday, January 13th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, January 11th. This represents a $0.24 dividend on an annualized basis and a yield of 2.82%. This is an increase from Cousins Properties’s previous quarterly dividend of $0.06. Cousins Properties’s dividend payout ratio is currently 50.00%.
CUZ has been the topic of several analyst reports. Zacks Investment Research downgraded Cousins Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. Stifel Nicolaus raised Cousins Properties from a “sell” rating to a “hold” rating and cut their target price for the company from $9.50 to $8.00 in a research report on Monday, October 17th. They noted that the move was a valuation call.
About Cousins Properties
Cousins Properties Incorporated (Cousins) is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on development, acquisition, leasing and property management. The Company’s investment strategy is to purchase Class A office assets or locate opportunistic development or redevelopment projects in its core markets to which it can add value through relationships, capital, or market expertise.
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