Cousins Properties (NYSE:CUZ) Releases FY24 Earnings Guidance

Cousins Properties (NYSE:CUZ) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.60-$2.67 for the period, compared to the consensus estimate of $2.62. Cousins Properties also updated its FY 2024 guidance to 2.600-2.670 EPS.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Cousins Properties from a sell rating to a hold rating in a research note on Thursday, April 11th. Truist Financial reduced their price target on shares of Cousins Properties from $27.00 to $26.00 and set a buy rating on the stock in a research note on Tuesday, January 16th. Finally, Barclays reduced their price target on shares of Cousins Properties from $29.00 to $25.00 and set an overweight rating on the stock in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $23.67.

Cousins Properties Stock Down 0.8 %

Shares of CUZ stock traded down $0.18 during trading on Friday, reaching $22.86. The company’s stock had a trading volume of 2,938,154 shares, compared to its average volume of 1,164,756. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 46.65, a P/E/G ratio of 6.22 and a beta of 1.27. The stock’s 50-day moving average price is $23.05 and its 200 day moving average price is $22.16. Cousins Properties has a 1-year low of $17.40 and a 1-year high of $25.19.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.53). The business had revenue of $197.00 million during the quarter, compared to analyst estimates of $198.47 million. Cousins Properties had a net margin of 9.15% and a return on equity of 1.62%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. On average, research analysts anticipate that Cousins Properties will post 2.61 EPS for the current year.

Cousins Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, April 4th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cousins Properties’s dividend payout ratio (DPR) is currently 261.22%.

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.