Cousins Properties (NYSE:CUZ) Issues FY24 Earnings Guidance

Cousins Properties (NYSE:CUZ) updated its FY24 earnings guidance on Thursday. 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CUZ. Truist Financial raised their target price on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Evercore ISI upped their target price on Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Barclays upped their target price on Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company upped their target price on Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. Finally, Robert W. Baird upped their target price on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two 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 has an average rating of “Moderate Buy” and an average price target of $30.67.

Cousins Properties Stock Up 0.4 %

Shares of NYSE CUZ traded up $0.13 during mid-day trading on Thursday, reaching $31.38. 1,086,333 shares of the company traded hands, compared to its average volume of 1,302,097. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $4.77 billion, a PE ratio of 64.04, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30. The company’s fifty day moving average is $29.16 and its two-hundred day moving average is $25.69. Cousins Properties has a fifty-two week low of $17.40 and a fifty-two week high of $31.98.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). The company had revenue of $212.98 million for 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 business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.75 EPS. On average, analysts expect that Cousins Properties will post 2.67 earnings per share for the current year.

Cousins Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is 261.22%.

Insider Activity

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at approximately $352,440.77. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.40% of the stock is currently 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.