Cousins Properties Incorporated (NYSE:CUZ - Get Rating) announced a quarterly dividend on Tuesday, June 21st, Zacks reports. Investors of record on Wednesday, July 6th will be given a dividend of 0.32 per share by the real estate investment trust on Friday, July 15th. This represents a $1.28 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Tuesday, July 5th.
Cousins Properties has increased its dividend by an average of 6.0% per year over the last three years and has raised its dividend every year for the last 5 years. Cousins Properties has a dividend payout ratio of 136.2% 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 $2.86 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 44.8%.
NYSE CUZ opened at $29.36 on Thursday. The company has a market cap of $4.37 billion, a PE ratio of 15.79, a PEG ratio of 3.22 and a beta of 1.02. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51. Cousins Properties has a 12 month low of $28.67 and a 12 month high of $42.41. The stock has a 50 day moving average of $34.43 and a 200-day moving average of $37.65.
Cousins Properties (NYSE:CUZ - Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.48). Cousins Properties had a net margin of 36.88% and a return on equity of 6.12%. The business had revenue of $186.90 million for the quarter, compared to analyst estimates of $184.82 million. During the same period in the prior year, the business earned $0.69 EPS. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Cousins Properties will post 2.73 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Truist Financial dropped their target price on Cousins Properties to $38.00 in a report on Thursday, May 26th. StockNews.com assumed coverage on Cousins Properties in a report on Thursday, March 31st. They set a "hold" rating for the company. Finally, Mizuho initiated coverage on Cousins Properties in a report on Friday, April 22nd. They set a "neutral" rating and a $41.00 target price for the company.
Several hedge funds and other institutional investors have recently modified their holdings of CUZ. State Street Corp increased its position in shares of Cousins Properties by 14.1% in the first quarter. State Street Corp now owns 8,217,746 shares of the real estate investment trust's stock worth $331,093,000 after purchasing an additional 1,015,078 shares during the period. Invesco Ltd. increased its position in shares of Cousins Properties by 89.6% in the first quarter. Invesco Ltd. now owns 771,278 shares of the real estate investment trust's stock worth $31,075,000 after purchasing an additional 364,546 shares during the period. Centersquare Investment Management LLC increased its position in shares of Cousins Properties by 11.0% in the first quarter. Centersquare Investment Management LLC now owns 3,338,260 shares of the real estate investment trust's stock worth $134,498,000 after purchasing an additional 330,967 shares during the period. Vanguard Group Inc. increased its position in shares of Cousins Properties by 0.7% in the first quarter. Vanguard Group Inc. now owns 21,673,308 shares of the real estate investment trust's stock worth $873,217,000 after purchasing an additional 155,633 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Cousins Properties by 22.8% in the first quarter. Bank of America Corp DE now owns 476,185 shares of the real estate investment trust's stock worth $19,185,000 after purchasing an additional 88,324 shares during the period. Institutional investors own 98.47% of the company's stock.
Cousins Properties Company Profile (Get Rating)
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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