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

Cousins Properties (NYSE:CUZ) issued its quarterly earnings data on Thursday. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.60), Zacks reports. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The business had revenue of $209.21 million for the quarter, compared to analysts’ expectations of $212.54 million. During the same period in the previous year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. 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 Stock Performance

Shares of CUZ traded up $0.17 during mid-day trading on Friday, hitting $31.54. 1,625,314 shares of the company traded hands, compared to its average volume of 1,303,659. Cousins Properties has a 1 year low of $17.40 and a 1 year high of $32.17. 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 50-day moving average price of $29.24 and a two-hundred day moving average price of $25.79. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of 64.37, a P/E/G ratio of 4.41 and a beta of 1.30.

Cousins Properties Announces Dividend

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

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.