Cousins Properties Incorporated (NYSE:CUZ) Plans $0.32 Quarterly Dividend

Cousins Properties Incorporated (NYSE:CUZ - Get Free Report) announced a quarterly dividend on Wednesday, June 18th, RTT News reports. Investors of record on Monday, July 7th will be given a dividend of 0.32 per share by the real estate investment trust on Thursday, July 17th. This represents a $1.28 annualized dividend and a yield of 4.20%.

Cousins Properties has a dividend payout ratio of 278.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cousins Properties to earn $2.84 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 45.1%.

Cousins Properties Stock Performance

Shares of NYSE CUZ traded up $0.30 during midday trading on Wednesday, hitting $30.50. 1,935,420 shares of the company's stock were exchanged, compared to its average volume of 1,317,092. Cousins Properties has a 12 month low of $22.16 and a 12 month high of $32.55. The firm has a market capitalization of $5.12 billion, a PE ratio of 92.43, a price-to-earnings-growth ratio of 2.83 and a beta of 1.32. The company's 50 day moving average price is $27.98 and its 200 day moving average price is $29.18. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.62.

Cousins Properties (NYSE:CUZ - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. The firm had revenue of $6.81 million for the quarter, compared to analyst estimates of $238.49 million. Cousins Properties had a net margin of 5.97% and a return on equity of 1.15%. The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, analysts predict that Cousins Properties will post 2.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CUZ shares. Evercore ISI upped their target price on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Robert W. Baird dropped their target price on Cousins Properties from $34.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Wolfe Research raised shares of Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a report on Monday, April 7th. Truist Financial cut their price target on shares of Cousins Properties from $31.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded Cousins Properties from a "sell" rating to a "hold" rating in a research report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.20.

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.

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