Cousins Properties (NYSE:CUZ) Updates FY24 Earnings Guidance

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

Cousins Properties Trading Down 0.8 %

Shares of Cousins Properties stock traded down $0.18 on Friday, hitting $22.86. The stock had a trading volume of 2,938,154 shares, compared to its average volume of 1,164,756. The firm has a market capitalization of $3.48 billion, a P/E ratio of 46.65, a PEG ratio of 6.17 and a beta of 1.27. The stock has a 50 day moving average of $23.05 and a 200 day moving average of $22.18. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.76 and a current ratio of 0.76. Cousins Properties has a twelve month low of $17.40 and a twelve month high of $25.19.

Cousins Properties (NYSE:CUZ) last released its earnings results 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 firm had revenue of $197.00 million for 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 business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. Sell-side analysts expect that Cousins Properties will post 2.62 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, April 4th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date was Wednesday, April 3rd. Cousins Properties’s dividend payout ratio is presently 261.22%.

Analyst Upgrades and Downgrades

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

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.