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

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

Cousins Properties has a dividend payout ratio of 278.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

CUZ stock traded down $0.04 during midday trading on Friday, reaching $30.49. The stock had a trading volume of 2,096,348 shares, compared to its average volume of 1,323,014. The company's fifty day simple moving average is $28.23 and its 200 day simple moving average is $29.17. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 92.39, a price-to-earnings-growth ratio of 2.84 and a beta of 1.32. Cousins Properties has a 52-week low of $22.16 and a 52-week high of $32.55.

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

Analyst Ratings Changes

CUZ has been the topic of several analyst reports. Wells Fargo & Company reduced their price target on Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Wall Street Zen upgraded Cousins Properties from a "sell" rating to a "hold" rating in a report on Thursday, May 8th. Truist Financial reduced their price target on Cousins Properties from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Wolfe Research upgraded Cousins Properties from a "peer perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a report on Monday, April 7th. Finally, Evercore ISI lifted their price target on Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.