Norges Bank bought a new stake in shares of Cousins Properties Inc (NYSE:CUZ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,589,114 shares of the real estate investment trust’s stock, valued at approximately $30,543,000. Norges Bank owned 0.91% of Cousins Properties as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Cousins Properties by 67.9% in the fourth quarter. FMR LLC now owns 37,539,059 shares of the real estate investment trust’s stock valued at $319,458,000 after buying an additional 15,182,879 shares during the period. State Street Corp increased its stake in Cousins Properties by 103.0% in the fourth quarter. State Street Corp now owns 15,573,877 shares of the real estate investment trust’s stock valued at $132,530,000 after buying an additional 7,901,086 shares during the last quarter. RidgeWorth Capital Management LLC bought a new stake in Cousins Properties during the fourth quarter valued at approximately $62,016,000. Frontier Capital Management Co. LLC bought a new stake in Cousins Properties during the fourth quarter valued at approximately $43,164,000. Finally, Russell Investments Group Ltd. bought a new stake in Cousins Properties during the fourth quarter valued at approximately $32,423,000. Institutional investors own 67.92% of the company’s stock.
Shares of Cousins Properties Inc (NYSE:CUZ) opened at 8.27 on Friday. Cousins Properties Inc has a 1-year low of $7.04 and a 1-year high of $8.82. The firm has a market capitalization of $3.26 billion, a P/E ratio of 26.85 and a beta of 1.06. The stock’s 50 day moving average is $8.33 and its 200 day moving average is $8.08.
Cousins Properties (NYSE:CUZ) last announced its earnings results on Wednesday, February 8th. The real estate investment trust reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.16. Cousins Properties had a net margin of 20.13% and a return on equity of 4.49%. The firm had revenue of $114.29 million for the quarter, compared to the consensus estimate of $100.16 million. During the same period in the prior year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 135.5% on a year-over-year basis. Equities analysts predict that Cousins Properties Inc will post $0.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Monday, April 3rd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, March 30th. Cousins Properties’s payout ratio is currently 77.42%.
Separately, Zacks Investment Research upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research note on Thursday, February 16th.
In related news, Director Lillian C. Giornelli sold 6,740 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $8.17, for a total transaction of $55,065.80. Following the sale, the director now directly owns 102,307 shares of the company’s stock, valued at approximately $835,848.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman S Taylor Glover bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were acquired at an average cost of $7.91 per share, for a total transaction of $395,500.00. Following the completion of the purchase, the chairman now owns 535,505 shares in the company, valued at $4,235,844.55. The disclosure for this purchase can be found here. 3.16% of the stock is owned by corporate insiders.
Cousins Properties Company Profile
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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