Cousins Properties (NYSE:CUZ) Releases Earnings Results, Misses Expectations By $0.61 EPS

Cousins Properties (NYSE:CUZ) posted its quarterly earnings results on Thursday. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61), Zacks reports. Cousins Properties had a net margin of 7.25% and a return on equity of 1.30%. The company had revenue of $212.98 million for the quarter, compared to analyst estimates of $208.18 million. During the same quarter in the previous year, the business posted $2.75 earnings per share. Cousins Properties’s revenue was up 4.2% on a year-over-year basis. Cousins Properties updated its FY24 guidance to $2.63-2.68 EPS and its FY 2024 guidance to 2.630-2.680 EPS.

Cousins Properties Stock Up 8.2 %

CUZ stock traded up $2.06 during trading on Friday, reaching $27.24. The stock had a trading volume of 2,703,780 shares, compared to its average volume of 1,132,019. Cousins Properties has a 1-year low of $17.40 and a 1-year high of $27.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $4.14 billion, a P/E ratio of 55.59, a PEG ratio of 4.52 and a beta of 1.30. The firm has a fifty day moving average price of $23.40 and a 200 day moving average price of $23.26.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were issued a dividend of $0.32 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.70%. Cousins Properties’s payout ratio is 261.22%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.67.

Insider Activity

In related news, CFO Gregg D. Adzema sold 71,097 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $1,657,271.07. Following the completion of the sale, the chief financial officer now owns 85,872 shares of the company’s stock, valued at approximately $2,001,676.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

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.