Schwab Charles Investment Management Inc. Acquires 569,820 Shares of Cousins Properties Inc (CUZ)
Schwab Charles Investment Management Inc. boosted its holdings in Cousins Properties Inc (NYSE:CUZ) by 13.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,928,258 shares of the real estate investment trust’s stock after buying an additional 569,820 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Cousins Properties were worth $45,587,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Zeke Capital Advisors LLC purchased a new position in shares of Cousins Properties during the 3rd quarter valued at $126,000. Advisor Group Inc. grew its holdings in shares of Cousins Properties by 40.3% during the 2nd quarter. Advisor Group Inc. now owns 14,567 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 4,183 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cousins Properties during the 3rd quarter valued at $202,000. Cubist Systematic Strategies LLC purchased a new position in shares of Cousins Properties during the 2nd quarter valued at $222,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Cousins Properties during the 3rd quarter valued at $254,000.
Several equities analysts have recently commented on the stock. Bank of America upgraded shares of Cousins Properties from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Monday, December 4th. ValuEngine cut shares of Cousins Properties from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $10.10.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, December 29th. Cousins Properties’s payout ratio is presently 44.44%.
In related news, insider S Taylor Glover sold 74,351 shares of Cousins Properties stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $9.41, for a total value of $699,642.91. Following the completion of the sale, the insider now owns 485,284 shares of the company’s stock, valued at approximately $4,566,522.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.14% of the stock is currently owned by insiders.
About Cousins Properties
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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