Cousins Properties (NYSE:CUZ) Issues FY24 Earnings Guidance

Cousins Properties (NYSE:CUZ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.60-$2.67 for the period, compared to the consensus earnings per share estimate of $2.62.

Analysts Set New Price Targets

A number of analysts have weighed in on CUZ shares. Barclays cut their target price on shares of Cousins Properties from $29.00 to $25.00 and set an overweight rating on the stock in a research report on Wednesday, March 27th. StockNews.com raised Cousins Properties from a sell rating to a hold rating in a research note on Thursday, April 11th. Finally, Truist Financial lowered their target price on shares of Cousins Properties from $27.00 to $26.00 and set a buy rating for the company in a report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $23.67.

Cousins Properties Stock Down 0.3 %

Shares of CUZ stock traded down $0.07 during mid-day trading on Thursday, reaching $23.05. 1,839,121 shares of the company’s stock traded hands, compared to its average volume of 1,592,911. Cousins Properties has a 12 month low of $17.40 and a 12 month high of $25.19. The company has a market cap of $3.51 billion, a P/E ratio of 42.04, a P/E/G ratio of 6.13 and a beta of 1.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $23.08 and its 200-day moving average price is $22.13.

Cousins Properties (NYSE:CUZ) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.53). The business had revenue of $197.00 million for the quarter, compared to the consensus estimate of $198.47 million. Cousins Properties had a net margin of 10.33% and a return on equity of 1.81%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. On average, equities analysts expect that Cousins Properties will post 2.61 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, April 4th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date was Wednesday, April 3rd. Cousins Properties’s payout ratio is 232.73%.

About Cousins Properties

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.