Short Interest in Cousins Properties Inc (NYSE:CUZ) Expands By 7.7%
Cousins Properties Inc (NYSE:CUZ) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 3,081,300 shares, a growth of 7.7% from the June 30th total of 2,860,000 shares. Based on an average trading volume of 2,420,000 shares, the short-interest ratio is currently 1.3 days. Currently, 0.7% of the shares of the company are sold short.
A number of hedge funds and other institutional investors have recently made changes to their positions in CUZ. Trustcore Financial Services LLC purchased a new position in Cousins Properties during the first quarter valued at $46,000. New York State Common Retirement Fund raised its position in shares of Cousins Properties by 2.4% in the first quarter. New York State Common Retirement Fund now owns 977,807 shares of the real estate investment trust’s stock valued at $9,446,000 after buying an additional 22,911 shares during the last quarter. OTA Financial Group L.P. acquired a new stake in shares of Cousins Properties in the first quarter valued at about $2,680,000. Koshinski Asset Management Inc. acquired a new stake in shares of Cousins Properties in the second quarter valued at about $1,752,000. Finally, Hanson McClain Inc. acquired a new stake in shares of Cousins Properties in the second quarter valued at about $41,000.
Shares of CUZ stock traded down $0.34 during trading hours on Wednesday, hitting $33.99. The company’s stock had a trading volume of 1,488,682 shares, compared to its average volume of 1,843,191. The stock has a 50 day simple moving average of $35.97. The stock has a market cap of $4.99 billion, a PE ratio of 13.49, a PEG ratio of 3.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72. Cousins Properties has a 12-month low of $30.12 and a 12-month high of $40.40.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were issued a dividend of $0.29 per share. The ex-dividend date was Tuesday, July 2nd. This is an increase from Cousins Properties’s previous quarterly dividend of $0.07. This represents a $1.16 dividend on an annualized basis and a yield of 3.41%. Cousins Properties’s dividend payout ratio is 46.03%.
Several analysts have recently commented on the stock. ValuEngine downgraded shares of Cousins Properties from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th.
Cousins Properties Company Profile
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.
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