Wall Street brokerages expect Cousins Properties Incorporated (NYSE:CUZ) to post earnings per share (EPS) of $0.67 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Cousins Properties' earnings. The lowest EPS estimate is $0.66 and the highest is $0.69. Cousins Properties posted earnings of $0.72 per share in the same quarter last year, which would suggest a negative year over year growth rate of 6.9%. The company is expected to report its next earnings report after the market closes on Wednesday, October 28th.
On average, analysts expect that Cousins Properties will report full-year earnings of $2.77 per share for the current year, with EPS estimates ranging from $2.75 to $2.80. For the next financial year, analysts forecast that the business will report earnings of $2.78 per share, with EPS estimates ranging from $2.76 to $2.81. Zacks' earnings per share averages are a mean average based on a survey of analysts that cover Cousins Properties.
Cousins Properties (NYSE:CUZ) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.66 by ($0.50). Cousins Properties had a return on equity of 7.51% and a net margin of 44.35%. The firm had revenue of $175.10 million during the quarter, compared to the consensus estimate of $172.55 million.
CUZ has been the topic of several analyst reports. Zacks Investment Research cut Cousins Properties from a "buy" rating to a "hold" rating and set a $32.50 price objective on the stock. in a research note on Friday, August 21st. TheStreet cut Cousins Properties from a "b-" rating to a "c+" rating in a research note on Monday, July 13th. Finally, Wells Fargo & Company reduced their price objective on Cousins Properties from $37.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of "Hold" and a consensus price target of $35.63.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. grew its position in Cousins Properties by 15.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 546,475 shares of the real estate investment trust's stock worth $5,279,000 after purchasing an additional 71,807 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Cousins Properties by 65.4% during the 1st quarter. Victory Capital Management Inc. now owns 41,047 shares of the real estate investment trust's stock worth $1,201,000 after acquiring an additional 16,227 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Cousins Properties by 12.2% during the 1st quarter. Janus Henderson Group PLC now owns 86,745 shares of the real estate investment trust's stock worth $2,539,000 after acquiring an additional 9,403 shares in the last quarter. Morgan Stanley boosted its stake in shares of Cousins Properties by 20.2% during the 1st quarter. Morgan Stanley now owns 1,341,906 shares of the real estate investment trust's stock worth $39,278,000 after acquiring an additional 225,925 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Cousins Properties by 46.6% during the 1st quarter. Schroder Investment Management Group now owns 652,745 shares of the real estate investment trust's stock worth $19,452,000 after acquiring an additional 207,480 shares in the last quarter. 96.95% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CUZ traded down $0.48 during trading hours on Friday, hitting $27.74. 1,196,173 shares of the company were exchanged, compared to its average volume of 1,031,908. The stock has a 50-day moving average price of $29.12 and a 200 day moving average price of $29.83. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.43. Cousins Properties has a 52 week low of $21.15 and a 52 week high of $42.99. The stock has a market cap of $4.12 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 5.56 and a beta of 0.92.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Monday, October 5th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.33%. The ex-dividend date was Friday, October 2nd. Cousins Properties's payout ratio is 40.82%.
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.
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