SeaBridge Investment Advisors LLC Sells 35,026 Shares of Cousins Properties Incorporated (NYSE:CUZ)

SeaBridge Investment Advisors LLC lowered its stake in Cousins Properties Incorporated (NYSE:CUZ - Free Report) by 29.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,398 shares of the real estate investment trust's stock after selling 35,026 shares during the quarter. SeaBridge Investment Advisors LLC owned approximately 0.05% of Cousins Properties worth $1,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cousins Properties in the fourth quarter worth $35,502,000. Principal Financial Group Inc. raised its holdings in shares of Cousins Properties by 13.0% in the 4th quarter. Principal Financial Group Inc. now owns 12,208,784 shares of the real estate investment trust's stock valued at $297,284,000 after acquiring an additional 1,407,164 shares in the last quarter. Heitman Real Estate Securities LLC bought a new stake in shares of Cousins Properties during the 4th quarter valued at about $32,105,000. Balyasny Asset Management L.P. boosted its position in shares of Cousins Properties by 49.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,781,184 shares of the real estate investment trust's stock valued at $67,722,000 after acquiring an additional 916,508 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Cousins Properties by 75.6% during the first quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust's stock worth $46,107,000 after purchasing an additional 825,547 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company's stock.

Cousins Properties Trading Up 1.5 %

CUZ traded up $0.42 on Friday, hitting $28.51. 1,419,627 shares of the company were exchanged, compared to its average volume of 907,201. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a fifty day simple moving average of $25.57 and a two-hundred day simple moving average of $24.00. The stock has a market capitalization of $4.34 billion, a PE ratio of 58.18, a price-to-earnings-growth ratio of 4.68 and a beta of 1.30. Cousins Properties Incorporated has a 12 month low of $17.40 and a 12 month high of $28.57.

Cousins Properties (NYSE:CUZ - Get Free Report) last issued its earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.61). The firm had revenue of $212.98 million during the quarter, compared to the consensus estimate of $208.18 million. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.75 EPS. Sell-side analysts expect that Cousins Properties Incorporated will post 2.67 earnings per share for the current year.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were paid a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.49%. Cousins Properties's payout ratio is presently 261.22%.

Analyst Ratings Changes

CUZ has been the subject of several research analyst reports. StockNews.com upgraded shares of Cousins Properties from a "sell" rating to a "hold" rating in a research report on Thursday, May 23rd. Robert W. Baird upped their target price on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Truist Financial raised their price target on Cousins Properties from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Friday. Evercore ISI reiterated an "in-line" rating and issued a $29.00 price objective on shares of Cousins Properties in a report on Tuesday, August 20th. Finally, Barclays increased their price objective on Cousins Properties from $25.00 to $30.00 and gave the company an "overweight" rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $26.43.

About Cousins Properties

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.