Cousins Properties (NYSE:CUZ) Releases Quarterly Earnings Results, Meets Estimates

Cousins Properties (NYSE:CUZ) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10, FiscalAI reports. The business had revenue of $259.42 million for the quarter, compared to analysts’ expectations of $264.23 million. Cousins Properties had a net margin of 0.62% and a return on equity of 0.14%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share.

Cousins Properties Stock Performance

CUZ opened at $29.06 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $28.39 and its 200-day moving average is $26.97. The stock has a market cap of $4.78 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. Cousins Properties has a twelve month low of $21.03 and a twelve month high of $32.95.

Cousins Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Monday, October 5th were paid a $0.32 dividend. The ex-dividend date was Monday, October 5th. This represents a $1.28 annualized dividend and a dividend yield of 4.4%. Cousins Properties’s dividend payout ratio (DPR) is presently 3,200.00%.

Insider Transactions at Cousins Properties

In other Cousins Properties news, CAO Jeffrey Symes sold 6,033 shares of Cousins Properties stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $29.44, for a total transaction of $177,611.52. Following the sale, the chief accounting officer owned 16,685 shares of the company’s stock, valued at $491,206.40. The trade was a 26.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

CUZ has been the topic of a number of research analyst reports. Barclays increased their target price on Cousins Properties from $28.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Robert W. Baird boosted their price target on Cousins Properties from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Wall Street Zen raised Cousins Properties from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Evercore set a $33.00 price target on Cousins Properties in a research report on Monday, September 21st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Cousins Properties in a research note on Tuesday, September 22nd. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.50.

About Cousins Properties

Cousins Properties Incorporated (NYSE: CUZ) is a self-administered and self-managed real estate investment trust that owns, develops, and manages primarily Class A office properties. The company focuses on high-quality buildings designed to serve businesses across a range of industries, with services that include property management, leasing, development, and asset operations.

Founded in 1958 by Thomas G. Cousins, the company has developed a longstanding presence in the commercial real estate industry.