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

Cousins Properties (NYSE:CUZ) updated its FY 2024 earnings guidance on Thursday. 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 Performance

CUZ stock traded up $0.17 on Friday, hitting $31.54. The company’s stock had a trading volume of 1,625,314 shares, compared to its average volume of 1,303,659. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 64.37, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30. The firm has a 50 day moving average of $29.24 and a two-hundred day moving average of $25.76. 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.

Cousins Properties (NYSE:CUZ) last announced its earnings results 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). The business had revenue of $212.98 million for the quarter, compared to analyst estimates of $208.18 million. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. Cousins Properties’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $2.75 EPS. Equities analysts predict that Cousins Properties will post 2.67 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were paid 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 (DPR) is currently 261.22%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the completion of the transaction, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Cousins Properties Company Profile

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.