Cousins Properties Incorporated (CUZ) to Issue Quarterly Dividend of $0.32 on October 15th

Cousins Properties Incorporated (NYSE:CUZ) announced a quarterly dividend on Tuesday, September 17th, NASDAQ reports. Shareholders of record on Thursday, October 3rd will be given a dividend of 0.32 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.28 annualized dividend and a yield of 4.34%. The ex-dividend date is Thursday, October 3rd.

Cousins Properties has decreased its dividend payment by an average of 4.9% annually over the last three years. Cousins Properties has a payout ratio of 581.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Cousins Properties to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 47.2%.

Cousins Properties Price Performance

Shares of CUZ opened at $29.48 on Tuesday. The company has a 50 day moving average of $27.82 and a 200-day moving average of $24.80. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $4.48 billion, a P/E ratio of 60.16, a P/E/G ratio of 4.90 and a beta of 1.31. Cousins Properties has a twelve month low of $17.40 and a twelve month high of $30.50.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.61). Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business had revenue of $212.98 million during the quarter, compared to analyst estimates of $208.18 million. During the same quarter in the previous year, the firm posted $2.75 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Cousins Properties will post 2.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CUZ shares. Robert W. Baird upped their price objective on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Evercore ISI increased their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Truist Financial boosted their price objective on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company upped their target price on shares of Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Finally, Barclays lifted their price target on Cousins Properties from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Cousins Properties presently has an average rating of “Moderate Buy” and an average target price of $28.29.

Insider Activity

In related news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

About Cousins Properties

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.