Cousins Properties Incorporated (NYSE:CUZ) Declares Quarterly Dividend of $0.32

by · The Markets Daily

Cousins Properties Incorporated (NYSE:CUZ – Get Free Report) declared a quarterly dividend on Tuesday, June 18th, NASDAQ reports. Shareholders of record on Wednesday, July 3rd will be paid a dividend of 0.32 per share by the real estate investment trust on Monday, July 15th. This represents a $1.28 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend is Wednesday, July 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 272.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Cousins Properties to earn $2.68 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 47.8%.

Cousins Properties Stock Down 1.1 %

Shares of CUZ opened at $22.90 on Tuesday. The company has a market capitalization of $3.48 billion, a PE ratio of 46.73, a PEG ratio of 3.84 and a beta of 1.30. Cousins Properties has a 12 month low of $17.40 and a 12 month high of $25.19. The stock’s 50-day moving average price is $23.16 and its two-hundred day moving average price is $23.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.57.

Cousins Properties (NYSE:CUZ – Get Free Report) last announced its earnings results on Friday, April 26th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.54). The company had revenue of $209.20 million for the quarter, compared to analyst estimates of $199.35 million. Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, analysts anticipate that Cousins Properties will post 2.64 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on CUZ shares. Barclays cut their price target on shares of Cousins Properties from $29.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.67.

View Our Latest Research Report on Cousins Properties

Insider Buying and Selling at Cousins Properties

In other news, CFO Gregg D. Adzema sold 71,097 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $1,657,271.07. Following the transaction, the chief financial officer now owns 85,872 shares of the company’s stock, valued at approximately $2,001,676.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Cousins Properties Company Profile

(Get Free Report)

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.

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