Prudential Financial Inc. Reduces Stake in Cousins Properties Inc. (CUZ)
Prudential Financial Inc. cut its position in Cousins Properties Inc. (NYSE:CUZ) by 24.4% during the second quarter, Holdings Channel reports. The fund owned 502,983 shares of the real estate investment trust’s stock after selling 162,200 shares during the period. Prudential Financial Inc. owned about 0.24% of Cousins Properties worth $5,231,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in CUZ. Goldman Sachs Group Inc. increased its stake in Cousins Properties by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,248,445 shares of the real estate investment trust’s stock worth $12,959,000 after buying an additional 175,737 shares during the last quarter. State Street Corp raised its stake in Cousins Properties by 1.1% in the first quarter. State Street Corp now owns 7,089,566 shares of the real estate investment trust’s stock worth $73,587,000 after buying an additional 77,124 shares in the last quarter. BB&T Securities LLC raised its stake in Cousins Properties by 28.2% in the first quarter. BB&T Securities LLC now owns 29,059 shares of the real estate investment trust’s stock worth $301,000 after buying an additional 6,389 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in Cousins Properties during the first quarter worth about $5,297,000. Finally, M&T Bank Corp raised its stake in Cousins Properties by 10.9% in the first quarter. M&T Bank Corp now owns 12,607 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 1,239 shares in the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.
Cousins Properties Inc. (NYSE:CUZ) opened at 7.86 on Friday. The stock has a market capitalization of $1.65 billion, a P/E ratio of 11.87 and a beta of 1.14. The company’s 50-day moving average is $10.32 and its 200-day moving average is $10.49. Cousins Properties Inc. has a 12 month low of $7.19 and a 12 month high of $11.40.
Cousins Properties (NYSE:CUZ) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.01. The business earned $92.70 million during the quarter, compared to the consensus estimate of $89.52 million. Cousins Properties had a net margin of 37.51% and a return on equity of 8.41%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the business posted $0.21 EPS. Equities analysts anticipate that Cousins Properties Inc. will post $0.86 earnings per share for the current year.
CUZ has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, July 27th. Robert W. Baird lowered shares of Cousins Properties from an “outperform” rating to a “neutral” rating and set a $11.00 price target on the stock. in a report on Wednesday, August 17th. Finally, Stifel Nicolaus lowered shares of Cousins Properties from a “hold” rating to a “sell” rating and cut their price target for the company from $11.50 to $9.50 in a report on Thursday, September 29th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $10.88.
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.
Want to see what other hedge funds are holding CUZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cousins Properties Inc. (NYSE:CUZ).
Receive News & Ratings for Cousins Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cousins Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.