Cousins Properties (NYSE:CUZ) Issues Earnings Results

Cousins Properties (NYSE:CUZ) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60), Zacks reports. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The firm had revenue of $209.21 million during the quarter, compared to analysts’ expectations of $212.54 million. During the same quarter in the prior year, the firm posted $0.65 EPS. Cousins Properties’s quarterly revenue was up 5.2% compared to the same quarter last year. Cousins Properties updated its FY24 guidance to $2.66-2.70 EPS and its FY 2024 guidance to 2.660-2.700 EPS.

Cousins Properties Price Performance

CUZ stock traded up $0.17 on Friday, reaching $31.54. 1,625,314 shares of the company’s stock were exchanged, compared to its average volume of 1,303,659. The stock has a fifty day moving average of $29.24 and a 200-day moving average of $25.79. Cousins Properties has a twelve month low of $17.40 and a twelve month high of $32.17. The firm has a market cap of $4.80 billion, a PE ratio of 64.37, a P/E/G ratio of 4.41 and a beta of 1.30. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.

Cousins Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is presently 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 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 transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at $352,440.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CUZ shares. Truist Financial boosted 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. Barclays boosted their price objective on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Evercore ISI upped their price target on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Wells Fargo & Company upped their price target on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Finally, Robert W. Baird upped their price target on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

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.