Cousins Properties (NYSE:CUZ) Releases Quarterly Earnings Results, Misses Expectations By $0.60 EPS

by · The Cerbat Gem

Cousins Properties (NYSE:CUZ – Get Free Report) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.60), Zacks reports. The company had revenue of $209.21 million during the quarter, compared to the consensus estimate of $212.54 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. Cousins Properties’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. Cousins Properties updated its FY24 guidance to $2.66-2.70 EPS and its FY 2024 guidance to 2.660-2.700 EPS.

Cousins Properties Trading Up 0.5 %

CUZ traded up $0.17 during trading on Friday, hitting $31.54. 1,625,314 shares of the stock were exchanged, compared to its average volume of 1,303,659. The firm has a 50 day simple moving average of $29.24 and a 200 day simple moving average of $25.79. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 64.37, a P/E/G ratio of 4.41 and a beta of 1.30. Cousins Properties has a 1 year low of $17.40 and a 1 year high of $32.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03.

Cousins Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 annualized dividend and a yield of 4.06%. Cousins Properties’s payout ratio is currently 261.22%.

Analyst Ratings Changes

Several research firms have recently issued reports on CUZ. Wells Fargo & Company raised their price objective on Cousins Properties from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Evercore ISI increased their price target on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Robert W. Baird increased their price target on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Barclays increased their price target on Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Truist Financial increased their price target on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Cousins Properties has an average rating of “Moderate Buy” and an average price target of $30.67.

Get Our Latest Stock Report on Cousins Properties

Insiders Place Their Bets

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the transaction, the chief accounting officer now directly owns 12,529 shares in the company, valued at $352,440.77. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.

Cousins Properties Company Profile

(Get Free Report)

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.

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