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 shares of Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 19.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 approximately 0.10% of Cousins Properties worth $4,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. abrdn plc raised its holdings in Cousins Properties by 8.4% during the third quarter. abrdn plc now owns 30,089 shares of the real estate investment trust's stock worth $887,000 after acquiring an additional 2,327 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Cousins Properties by 4.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 36,509 shares of the real estate investment trust's stock worth $1,059,000 after purchasing an additional 1,626 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cousins Properties by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,903 shares of the real estate investment trust's stock worth $173,000 after purchasing an additional 1,523 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Cousins Properties during the third quarter worth $863,000. Finally, Signaturefd LLC lifted its stake in Cousins Properties by 30.8% during the third quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 651 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 12,529 shares in the company, valued at $352,440.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.40% of the company's stock.

Cousins Properties Stock Performance

Shares of Cousins Properties stock traded up $0.15 during mid-day trading on Thursday, hitting $31.58. 1,004,612 shares of the stock were exchanged, compared to its average volume of 1,297,785. The company has a 50-day simple moving average of $29.82 and a 200 day simple moving average of $26.28. 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 12 month low of $17.85 and a 12 month high of $32.17. The company has a market capitalization of $4.80 billion, a P/E ratio of 95.70, a P/E/G ratio of 4.67 and a beta of 1.29.

Cousins Properties (NYSE:CUZ - Get Free Report) last released 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 business had revenue of $209.21 million during the quarter, compared to analysts' expectations of $212.54 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Cousins Properties Incorporated will post 2.67 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.05%. Cousins Properties's dividend payout ratio (DPR) is currently 387.88%.

Analyst Ratings Changes

A number of research analysts have recently commented on CUZ shares. StockNews.com upgraded Cousins Properties from a "sell" rating to a "hold" 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 company an "in-line" rating in a report on Monday, September 16th. Wells Fargo & Company increased their price objective on Cousins Properties from $31.00 to $34.00 and gave the company an "overweight" rating in a report on Monday. Barclays increased their price objective on Cousins Properties from $30.00 to $35.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Finally, Robert W. Baird increased their price target on Cousins Properties from $31.00 to $33.00 and gave the stock an "outperform" rating in a report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $31.50.

Cousins Properties Company 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.