Gregg D. Adzema Sells 71,097 Shares of Cousins Properties Incorporated (NYSE:CUZ) Stock

Cousins Properties Incorporated (NYSE:CUZ) CFO Gregg D. Adzema sold 71,097 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 85,872 shares of the company’s stock, valued at approximately $2,001,676.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cousins Properties Stock Down 0.6 %

Shares of Cousins Properties stock opened at $23.44 on Friday. The stock’s 50-day moving average is $23.04 and its 200 day moving average is $22.30. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 47.84, a PEG ratio of 4.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.07 and a quick ratio of 1.07. Cousins Properties Incorporated has a one year low of $17.40 and a one year high of $25.19.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Friday, April 26th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.54). The firm had revenue of $209.20 million during the quarter, compared to the consensus estimate of $199.35 million. Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. Equities research analysts anticipate that Cousins Properties Incorporated will post 2.63 EPS for the current year.

Cousins Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, April 4th were issued a $0.32 dividend. The ex-dividend date was Wednesday, April 3rd. This represents a $1.28 annualized dividend and a yield of 5.46%. Cousins Properties’s payout ratio is currently 261.22%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gotham Asset Management LLC lifted its holdings in shares of Cousins Properties by 10.0% in the third quarter. Gotham Asset Management LLC now owns 53,547 shares of the real estate investment trust’s stock valued at $1,091,000 after purchasing an additional 4,884 shares in the last quarter. PGGM Investments lifted its holdings in shares of Cousins Properties by 2.6% in the third quarter. PGGM Investments now owns 2,046,403 shares of the real estate investment trust’s stock valued at $41,685,000 after purchasing an additional 50,956 shares in the last quarter. Jump Financial LLC bought a new position in shares of Cousins Properties in the third quarter valued at approximately $1,538,000. Assenagon Asset Management S.A. lifted its holdings in shares of Cousins Properties by 4.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 84,730 shares of the real estate investment trust’s stock valued at $2,063,000 after purchasing an additional 3,592 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in shares of Cousins Properties by 31.0% in the third quarter. Kennedy Capital Management LLC now owns 235,515 shares of the real estate investment trust’s stock valued at $4,797,000 after purchasing an additional 55,783 shares in the last quarter. Institutional investors own 94.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CUZ. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Truist Financial decreased their price target on Cousins Properties from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. Finally, Barclays decreased their price target on Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Two 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.67.

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.