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

Key Points

• Cousins Properties Incorporated has announced a quarterly dividend of $0.32 per share, which will be paid on October 15th to shareholders of record as of October 3rd, reflecting an annualized yield of 4.4%.
• The company's payout ratio is currently at 278.3%, suggesting it is relying on its balance sheet to cover dividends as earnings have not yet matched the payout.
• Cousins Properties' stock has seen a 1.3% decline, trading at $28.89, with a market cap of $4.85 billion and a price-to-earnings ratio of 78.07.

Cousins Properties Incorporated (NYSE:CUZ - Get Free Report) announced a quarterly dividend on Wednesday, September 17th, RTT News reports. Investors of record on Friday, October 3rd will be paid a dividend of 0.32 per share by the real estate investment trust on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, October 3rd.

Cousins Properties has a 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. Equities research 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 Down 1.5%

Shares of NYSE:CUZ traded down $0.45 during midday trading on Friday, hitting $28.83. 3,094,476 shares of the stock were exchanged, compared to its average volume of 1,537,822. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.45 and a current ratio of 2.45. Cousins Properties has a 52-week low of $24.07 and a 52-week high of $32.55. The business's fifty day simple moving average is $28.25 and its two-hundred day simple moving average is $28.41. The company has a market capitalization of $4.84 billion, a PE ratio of 77.92, a P/E/G ratio of 2.61 and a beta of 1.39.

Cousins Properties (NYSE:CUZ - Get Free Report) last posted its earnings results on Thursday, July 31st. The real estate investment trust reported $0.70 earnings per share for the quarter, meeting the consensus estimate of $0.70. Cousins Properties had a return on equity of 1.27% and a net margin of 6.51%.The company had revenue of $237.72 million for the quarter, compared to analyst estimates of $243.73 million. During the same period last year, the company earned $0.68 earnings per share. The business's revenue was up 12.7% compared to the same quarter last year. Cousins Properties has set its FY 2025 guidance at 2.790-2.850 EPS. As a group, research analysts predict that Cousins Properties will post 2.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial cut their target price on Cousins Properties from $31.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, August 26th. Wall Street Zen downgraded Cousins Properties from a "hold" rating to a "sell" rating in a research report on Saturday, September 6th. Evercore ISI raised their price target on Cousins Properties from $31.00 to $32.00 and gave the company an "in-line" rating in a research report on Monday, September 15th. Finally, Mizuho raised their price target on Cousins Properties from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.50.

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.