Bank of New York Mellon Corp lowered its stake in shares of Cousins Properties Inc (NYSE:CUZ) by 36.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,949,825 shares of the real estate investment trust’s stock after selling 3,340,574 shares during the period. Bank of New York Mellon Corp owned 1.42% of Cousins Properties worth $55,571,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Timber Hill LLC bought a new stake in shares of Cousins Properties during the 2nd quarter worth $118,000. Advisor Group Inc. raised its position in Cousins Properties by 40.3% in the second quarter. Advisor Group Inc. now owns 14,567 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 4,183 shares during the last quarter. Riverhead Capital Management LLC raised its position in Cousins Properties by 94.8% in the second quarter. Riverhead Capital Management LLC now owns 22,400 shares of the real estate investment trust’s stock valued at $197,000 after purchasing an additional 10,900 shares during the last quarter. US Bancorp DE increased its stake in shares of Cousins Properties by 207.3% in the second quarter. US Bancorp DE now owns 24,357 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 16,432 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Cousins Properties in the second quarter valued at about $222,000.
Cousins Properties Inc (NYSE CUZ) traded up $0.08 during midday trading on Tuesday, hitting $9.42. The stock had a trading volume of 3,315,700 shares, compared to its average volume of 3,699,418. Cousins Properties Inc has a 12 month low of $7.81 and a 12 month high of $9.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $3,922.99, a price-to-earnings ratio of 14.82 and a beta of 1.09.
CUZ has been the subject of several recent analyst reports. Zacks Investment Research raised Cousins Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Stifel Nicolaus reissued a “buy” rating and issued a $10.50 target price on shares of Cousins Properties in a research report on Thursday, September 21st. Bank of America lifted their price target on Cousins Properties from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, October 3rd. ValuEngine upgraded Cousins Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, October 10th. Finally, SunTrust Banks restated a “buy” rating and set a $10.00 target price on shares of Cousins Properties in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.10.
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About Cousins Properties
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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