Cousins Properties (NYSE:CUZ) Issues FY24 Earnings Guidance

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

Cousins Properties Trading Up 0.5 %

CUZ opened at $31.54 on Friday. The stock has a market capitalization 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 firm’s fifty day moving average price is $29.24 and its 200 day moving average price is $25.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. Cousins Properties has a 12-month low of $17.40 and a 12-month high of $32.17.

Cousins Properties (NYSE:CUZ) last posted its quarterly 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). The company had revenue of $212.98 million during the quarter, compared to analyst estimates of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.75 earnings per share. As a group, research analysts expect that Cousins Properties will post 2.67 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

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

Analyst Upgrades and Downgrades

CUZ has been the topic of a number of research reports. Wells Fargo & Company increased their target price on shares of Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. 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 report on Monday, September 16th. Barclays increased their target price on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Truist Financial increased their target price 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 increased their target price on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report 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. According to data from MarketBeat, Cousins Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the transaction, the chief accounting officer now owns 12,529 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 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.