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

Cousins Properties (NYSE:CUZ) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.660-2.700 for the period, compared to the consensus estimate of 2.670. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.66-2.70 EPS.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Evercore ISI upped their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Wells Fargo & Company upped their price target on shares of Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Truist Financial upped their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Barclays upped their price objective on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

Cousins Properties Price Performance

CUZ stock traded up $0.12 during trading on Thursday, reaching $31.37. 1,086,313 shares of the company were exchanged, compared to its average volume of 1,302,097. The company has a 50-day moving average of $29.07 and a two-hundred day moving average of $25.65. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 64.02, a P/E/G ratio of 4.41 and a beta of 1.30. Cousins Properties has a twelve month low of $17.40 and a twelve month high of $31.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.61). Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business had revenue of $212.98 million during the quarter, compared to analyst estimates of $208.18 million. During the same quarter last year, the company posted $2.75 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts predict that Cousins Properties will post 2.67 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 4.08%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is currently 261.22%.

Insider Buying and Selling at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the company’s 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 completion of the transaction, the chief accounting officer now directly owns 12,529 shares in the company, 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 can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

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.