Cousins Properties (NYSE:CUZ) Releases Earnings Results, Meets Estimates

Key Points

• Cousins Properties met earnings expectations with quarterly EPS of $0.10, while revenue of $259.42 million fell short of the $264.23 million analyst consensus.
• The company announced a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 4.4% yield.
• Analysts maintain a generally positive outlook, with seven Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $31.50.

Cousins Properties (NYSE:CUZ - Get Free Report) issued its earnings results on Thursday. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.10, FiscalAI reports. Cousins Properties had a return on equity of 0.14% and a net margin of 0.62%. The company had revenue of $259.42 million for the quarter, compared to analysts' expectations of $264.23 million.

Cousins Properties Price Performance

Shares of NYSE CUZ traded up $0.55 during mid-day trading on Thursday, reaching $29.06. 1,460,467 shares of the company were exchanged, compared to its average volume of 1,827,149. Cousins Properties has a 52 week low of $21.03 and a 52 week high of $32.95. The company's 50 day moving average price is $28.39 and its 200 day moving average price is $26.95. The stock has a market capitalization of $4.78 billion, a PE ratio of 726.58, a PEG ratio of 2.00 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.83.

Cousins Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Monday, October 5th were given a dividend of $0.32 per share. The ex-dividend date was Monday, October 5th. This represents a $1.28 annualized dividend and a yield of 4.4%. Cousins Properties's payout ratio is presently 3,200.00%.

Insider Activity at Cousins Properties

In related news, CAO Jeffrey Symes sold 6,033 shares of Cousins Properties stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $29.44, for a total value of $177,611.52. Following the transaction, the chief accounting officer owned 16,685 shares in the company, valued at $491,206.40. This trade represents a 26.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.81% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays lifted their price target on Cousins Properties from $28.00 to $34.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Wall Street Zen raised Cousins Properties from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Evercore set a $33.00 target price on Cousins Properties in a research report on Monday, September 21st. Robert W. Baird lifted their target price on Cousins Properties from $33.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Finally, Mizuho set a $34.00 price target on shares of Cousins Properties in a report on Tuesday, September 8th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $31.50.

About Cousins Properties

Cousins Properties Incorporated NYSE: CUZ is a self-administered and self-managed real estate investment trust that owns, develops, and manages primarily Class A office properties. The company focuses on high-quality buildings designed to serve businesses across a range of industries, with services that include property management, leasing, development, and asset operations.

Founded in 1958 by Thomas G. Cousins, the company has developed a longstanding presence in the commercial real estate industry.

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