Waterfront Capital Partners LLC Has $24.68 Million Stake in Cousins Properties Incorporated (NYSE:CUZ)

Waterfront Capital Partners LLC lessened its stake in shares of Cousins Properties Incorporated (NYSE:CUZ) by 14.8% in the third quarter, Holdings Channel reports. The institutional investor owned 837,070 shares of the real estate investment trust’s stock after selling 145,379 shares during the period. Cousins Properties accounts for approximately 3.4% of Waterfront Capital Partners LLC’s portfolio, making the stock its 10th biggest position. Waterfront Capital Partners LLC’s holdings in Cousins Properties were worth $24,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cousins Properties by 411.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,113,403 shares of the real estate investment trust’s stock valued at $32,823,000 after buying an additional 895,917 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cousins Properties by 3.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,786 shares of the real estate investment trust’s stock valued at $1,792,000 after buying an additional 1,882 shares in the last quarter. Glenmede Trust Co. NA increased its position in Cousins Properties by 33.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 12,543 shares of the real estate investment trust’s stock valued at $370,000 after buying an additional 3,171 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Cousins Properties by 24.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 113,081 shares of the real estate investment trust’s stock worth $3,334,000 after purchasing an additional 22,169 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Cousins Properties by 69.8% in the 3rd quarter. FMR LLC now owns 19,161 shares of the real estate investment trust’s stock worth $565,000 after purchasing an additional 7,877 shares in the last quarter. Institutional investors own 94.38% of the company’s stock.

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’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 sale, the chief accounting officer now directly owns 12,529 shares in the company, valued at $352,440.77. This trade represents a 32.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Cousins Properties Stock Performance

CUZ stock opened at $31.94 on Friday. The company has a market cap of $4.86 billion, a P/E ratio of 96.79, a price-to-earnings-growth ratio of 4.25 and a beta of 1.29. Cousins Properties Incorporated has a 1 year low of $19.48 and a 1 year high of $32.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s fifty day moving average price is $30.56 and its 200-day moving average price is $27.10.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $212.54 million. During the same period in the previous year, the firm earned $0.65 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Cousins Properties Incorporated will post 2.68 earnings per share for the current year.

Cousins Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is currently 387.88%.

Analysts Set New Price Targets

CUZ has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on Cousins Properties from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Truist Financial lifted their target price on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Evercore ISI lifted their target price on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company lifted their target price on Cousins Properties from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cousins Properties has an average rating of “Moderate Buy” and an average price target of $31.50.

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.