Cousins Properties (NYSE:CUZ) Updates FY 2024 Earnings Guidance

Cousins Properties (NYSE:CUZ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.660-2.700 for the period, compared to the consensus EPS estimate of 2.670. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.66-2.70 EPS.

Cousins Properties Stock Up 0.6 %

Shares of CUZ traded up $0.18 on Friday, reaching $31.56. The company’s stock had a trading volume of 1,625,314 shares, compared to its average volume of 1,303,659. Cousins Properties has a twelve month low of $17.40 and a twelve month high of $32.17. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $29.16 and a 200-day moving average of $25.69. The stock has a market capitalization of $4.80 billion, a PE ratio of 64.35, a PEG ratio of 4.41 and a beta of 1.30.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share 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 company had revenue of $212.98 million for the quarter, compared to the consensus estimate of $208.18 million. During the same quarter last year, the business posted $2.75 earnings per share. Cousins Properties’s revenue was up 4.2% on a year-over-year basis. Equities analysts predict 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 dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.06%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

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.