Cousins Properties (NYSE:CUZ) Releases Quarterly Earnings Results, Misses Estimates By $0.60 EPS

Cousins Properties (NYSE:CUZ) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60), Zacks reports. The company had revenue of $209.21 million for the quarter, compared to analysts’ expectations of $212.54 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. 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 Trading Up 0.5 %

CUZ traded up $0.17 during trading on Friday, hitting $31.54. 1,625,314 shares of the company’s stock were exchanged, compared to its average volume of 1,303,659. The firm has a market cap of $4.80 billion, a P/E ratio of 64.37, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. Cousins Properties has a 1 year low of $17.40 and a 1 year high of $32.17. The stock has a 50 day moving average price of $29.24 and a 200 day moving average price of $25.79.

Cousins Properties Announces Dividend

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

Insider Transactions at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties 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 sale, the chief accounting officer now directly owns 12,529 shares in the company, valued at $352,440.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays raised their target price on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Robert W. Baird raised their target price on shares of Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. 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 report on Wednesday, September 11th. Truist Financial boosted their price target on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, 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. Two equities 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.com, the company 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.