Cousins Properties Inc (NYSE:CUZ) announced a quarterly dividend on Thursday, June 18th, Zacks reports. Investors of record on Monday, July 6th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, July 17th. This represents a $1.20 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, July 2nd.
Cousins Properties has decreased its dividend payment by an average of 74.8% annually over the last three years and has increased its dividend every year for the last 6 years. Cousins Properties has a payout ratio of 179.1% 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 analysts expect Cousins Properties to earn $2.74 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 43.8%.
Shares of CUZ opened at $30.03 on Tuesday. The business has a 50-day simple moving average of $30.08 and a two-hundred day simple moving average of $34.48. Cousins Properties has a 12-month low of $21.15 and a 12-month high of $42.99. The stock has a market cap of $4.34 billion, a PE ratio of 15.64, a PEG ratio of 3.95 and a beta of 0.97. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.43.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.48. Cousins Properties had a net margin of 40.35% and a return on equity of 6.55%. The business had revenue of $189.13 million during the quarter, compared to analyst estimates of $183.92 million. During the same quarter last year, the business earned $0.20 EPS. The firm's quarterly revenue was up 52.7% on a year-over-year basis. On average, equities research analysts expect that Cousins Properties will post 2.74 EPS for the current year.
In other Cousins Properties news, EVP Richard G. Iv Hickson acquired 2,500 shares of the company's stock in a transaction dated Monday, May 18th. The shares were bought at an average cost of $25.41 per share, with a total value of $63,525.00. Company insiders own 0.67% of the company's stock.
A number of brokerages have recently commented on CUZ. ValuEngine lowered shares of Cousins Properties from a "hold" rating to a "sell" rating in a report on Friday, May 1st. Robert W. Baird lifted their target price on Cousins Properties from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Stifel Nicolaus upped their price target on Cousins Properties from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Friday, April 3rd. Finally, TheStreet raised shares of Cousins Properties from a "c" rating to a "b-" rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. The stock currently has a consensus rating of "Hold" and a consensus price target of $40.25.
Cousins Properties Company Profile
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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