Cousins Properties (NYSE:CUZ) Updates FY24 Earnings Guidance

Cousins Properties (NYSE:CUZ) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.66-2.70 for the period, compared to the consensus earnings per share estimate of $2.67. Cousins Properties also updated its FY 2024 guidance to 2.660-2.700 EPS.

Analyst Ratings Changes

Several research firms have recently weighed in on CUZ. Barclays boosted their target price on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their price objective on Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Truist Financial upped their price objective on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Evercore ISI upped their price objective on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, Robert W. Baird upped their price objective on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Cousins Properties currently has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Cousins Properties Stock Performance

NYSE CUZ traded up $0.18 on Friday, hitting $31.56. 1,625,314 shares of the company’s stock were exchanged, compared to its average volume of 1,303,659. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s 50-day moving average price is $29.16 and its two-hundred day moving average price is $25.69. Cousins Properties has a fifty-two week low of $17.40 and a fifty-two week high of $32.17. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 64.35, a P/E/G ratio of 4.41 and a beta of 1.30.

Cousins Properties (NYSE:CUZ) last released its 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 return on equity of 1.31% and a net margin of 7.25%. The business had revenue of $212.98 million for the quarter, compared to analyst estimates of $208.18 million. During the same quarter in the previous year, the firm posted $2.75 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts expect that Cousins Properties will post 2.67 EPS for the current year.

Cousins Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is currently 261.22%.

Insider Buying and Selling

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.13, for a total value of $168,695.61. Following the sale, the chief accounting officer now owns 12,529 shares in the company, valued at $352,440.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

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.