Cousins Properties (NYSE:CUZ – Get Free Report) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.07 earnings per share 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 during the quarter, compared to the consensus estimate of $212.54 million. During the same period last year, the business posted $0.65 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. 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 Up 0.5 %
CUZ stock traded up $0.17 during mid-day trading on Friday, reaching $31.54. 1,625,314 shares of the company traded hands, compared to its average volume of 1,303,659. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average price is $29.24 and its 200 day moving average price is $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 has a fifty-two week low of $17.40 and a fifty-two week high of $32.17.
Cousins Properties Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s payout ratio is presently 261.22%.
Insider Transactions at Cousins Properties
Analyst Upgrades and Downgrades
A number of research firms have issued reports on CUZ. Truist Financial increased their price target on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. 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 research note on Monday, September 16th. Wells Fargo & Company lifted their price target on shares of Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Barclays upped their price objective on shares of Cousins Properties from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Robert W. Baird raised their target price on Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat.com, Cousins Properties presently has an average rating of “Moderate Buy” and an average target price of $30.67.
Get Our Latest Analysis on CUZ
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.
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