Cousins Properties Incorporated (NYSE:CUZ) announced a quarterly dividend on Thursday, December 17th, Zacks reports. Investors of record on Monday, January 4th will be given a dividend of 0.30 per share by the real estate investment trust on Thursday, January 14th. This represents a $1.20 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, December 31st.
Cousins Properties has increased its dividend by 17.7% over the last three years and has increased its dividend annually for the last 1 consecutive years. Cousins Properties has a payout ratio of 69.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cousins Properties to earn $2.82 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 42.6%.
NYSE:CUZ opened at $33.60 on Wednesday. The stock’s 50-day simple moving average is $33.45 and its 200 day simple moving average is $30.38. The firm has a market capitalization of $4.99 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.43. Cousins Properties has a twelve month low of $21.15 and a twelve month high of $42.99.
A number of analysts have recently commented on the company. TheStreet raised Cousins Properties from a “c+” rating to a “b-” rating in a research note on Friday, November 27th. Wells Fargo & Company cut their price target on Cousins Properties from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $35.63.
About Cousins Properties
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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