Cousins Properties (NYSE:CUZ) Issues FY24 Earnings Guidance

Cousins Properties (NYSE:CUZ) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.66-2.70 for the period, compared to the consensus estimate of $2.67. Cousins Properties also updated its FY 2024 guidance to 2.660-2.700 EPS.

Wall Street Analysts Forecast Growth

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

Cousins Properties Stock Up 0.4 %

Cousins Properties stock traded up $0.12 during mid-day trading on Thursday, hitting $31.37. The company had a trading volume of 1,053,276 shares, compared to its average volume of 1,301,937. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average price is $29.07 and its two-hundred day moving average price is $25.65. Cousins Properties has a 12 month low of $17.40 and a 12 month high of $31.98. The company has a market capitalization of $4.77 billion, a PE ratio of 63.76, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30.

Cousins Properties (NYSE:CUZ) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.61). Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The company had revenue of $212.98 million during the quarter, compared to the consensus estimate of $208.18 million. During the same period last year, the firm posted $2.75 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Stockholders of record on Thursday, October 3rd were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is currently 261.22%.

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the business’s stock in a transaction on Friday, September 6th. The stock was 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 owns 12,529 shares in the company, valued at $352,440.77. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.