Cousins Properties (NYSE:CUZ) to Buyback $250.00 million in Stock

Cousins Properties (NYSE:CUZ) announced that its board has approved a stock buyback plan on Tuesday, February 17th, RTT News reports. The company plans to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CUZ. Wells Fargo & Company cut their price target on Cousins Properties from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cousins Properties in a research note on Wednesday, January 21st. Mizuho set a $29.00 price target on shares of Cousins Properties and gave the stock an “outperform” rating in a research note on Friday, December 12th. Cantor Fitzgerald set a $28.00 price objective on shares of Cousins Properties in a report on Monday, December 1st. Finally, Truist Financial lowered their target price on shares of Cousins Properties from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, December 1st. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.50.

Cousins Properties Trading Up 3.4%

Shares of NYSE CUZ traded up $0.77 during midday trading on Tuesday, reaching $23.23. 4,801,943 shares of the stock were exchanged, compared to its average volume of 2,347,877. Cousins Properties has a 12 month low of $21.03 and a 12 month high of $30.81. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 96.79, a P/E/G ratio of 1.77 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.93. The business has a 50-day simple moving average of $25.46 and a two-hundred day simple moving average of $26.57.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. The business had revenue of $255.03 million for the quarter, compared to the consensus estimate of $252.18 million. Cousins Properties had a return on equity of 0.85% and a net margin of 4.08%.The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Cousins Properties has set its FY 2026 guidance at 2.870-2.970 EPS. As a group, equities research analysts expect that Cousins Properties will post 2.76 EPS for the current year.

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Monday, January 5th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, January 5th. Cousins Properties’s payout ratio is 533.33%.

Cousins Properties Company Profile

Cousins Properties Incorporated (NYSE: CUZ) is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.

Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.