Cousins Properties (NYSE:CUZ) Announces Earnings Results

by · The Cerbat Gem

Cousins Properties (NYSE:CUZ – Get Free Report) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.60), Zacks reports. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The business had revenue of $209.21 million during the quarter, compared to the consensus estimate of $212.54 million. During the same period last year, the business posted $0.65 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. 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 Stock Up 0.5 %

CUZ stock traded up $0.17 during mid-day trading on Friday, reaching $31.54. 1,625,314 shares of the company traded hands, compared to its average volume of 1,303,659. 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 firm’s 50 day moving average price is $29.24 and its 200 day moving average price is $25.79. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 64.37, a P/E/G ratio of 4.41 and a beta of 1.30. Cousins Properties has a fifty-two week low of $17.40 and a fifty-two week high of $32.17.

Cousins Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s payout ratio is presently 261.22%.

Insider Transactions at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction on Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the transaction, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at $352,440.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CUZ. Truist Financial increased their price target on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Evercore ISI increased their target price on shares of 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 lifted their price target on shares of Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Barclays upped their price objective on shares of Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Robert W. Baird raised their target price 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Cousins Properties presently has an average rating of “Moderate Buy” and an average target price of $30.67.

Get Our Latest Analysis on CUZ

About Cousins Properties

(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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