Invenomic Capital Management LP Sells 34,749 Shares of Cousins Properties Incorporated (NYSE:CUZ)

Invenomic Capital Management LP cut its holdings in Cousins Properties Incorporated (NYSE:CUZ) by 4.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 773,347 shares of the real estate investment trust’s stock after selling 34,749 shares during the quarter. Invenomic Capital Management LP owned about 0.51% of Cousins Properties worth $18,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Cousins Properties by 2.0% in the first quarter. Vanguard Group Inc. now owns 23,353,228 shares of the real estate investment trust’s stock valued at $561,412,000 after buying an additional 456,251 shares during the last quarter. Principal Financial Group Inc. raised its stake in Cousins Properties by 13.0% in the fourth 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 buying an additional 1,407,164 shares during the last quarter. Centersquare Investment Management LLC raised its stake in Cousins Properties by 8.9% in the first quarter. Centersquare Investment Management LLC now owns 4,898,757 shares of the real estate investment trust’s stock valued at $112,377,000 after buying an additional 399,468 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in Cousins Properties by 49.2% in the fourth 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 buying an additional 916,508 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Cousins Properties by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,289,723 shares of the real estate investment trust’s stock valued at $55,755,000 after buying an additional 117,031 shares during the last quarter. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Cousins Properties Stock Performance

CUZ stock traded down $0.22 during trading on Tuesday, hitting $27.20. 1,920,113 shares of the company traded hands, compared to its average volume of 1,418,439. The stock’s 50-day simple moving average is $23.48 and its 200 day simple moving average is $23.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $4.14 billion, a PE ratio of 55.51, a P/E/G ratio of 4.50 and a beta of 1.30. Cousins Properties Incorporated has a 1 year low of $17.40 and a 1 year high of $27.66.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.61). The company had revenue of $212.98 million for the quarter, compared to analysts’ expectations of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.75 earnings per share. On average, equities analysts expect that Cousins Properties Incorporated will post 2.65 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.71%. The ex-dividend date was Wednesday, July 3rd. Cousins Properties’s dividend payout ratio is currently 261.22%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Barclays raised their price objective on Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.50.

Insider Activity at Cousins Properties

In other Cousins Properties news, CFO Gregg D. Adzema sold 71,097 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $1,657,271.07. Following the sale, the chief financial officer now directly owns 85,872 shares of the company’s stock, valued at $2,001,676.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.

Cousins Properties 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.