Cousins Properties (NYSE:CUZ) Updates FY 2024 Earnings Guidance

Cousins Properties (NYSE:CUZ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.660-2.700 for the period, compared to the consensus EPS estimate of 2.670. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.66-2.70 EPS.

Wall Street Analyst Weigh In

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

Cousins Properties Trading Up 0.5 %

CUZ traded up $0.17 during midday trading on Friday, reaching $31.54. 1,625,314 shares of the company’s stock traded hands, compared to its average volume of 1,303,659. Cousins Properties has a 52 week low of $17.40 and a 52 week high of $32.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a fifty day moving average of $29.24 and a two-hundred day moving average of $25.75. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 64.40, a P/E/G ratio of 4.41 and a beta of 1.30.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.61). Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The company had revenue of $212.98 million during the quarter, compared to the consensus estimate of $208.18 million. During the same quarter last year, the company posted $2.75 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Cousins Properties will post 2.67 earnings per share for the current fiscal year.

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 $0.32 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.06%. Cousins Properties’s dividend payout ratio (DPR) is 261.22%.

Insider Buying and Selling

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties 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 completion of the transaction, the chief accounting officer now owns 12,529 shares in the company, valued at approximately $352,440.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.

Cousins Properties Company Profile

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.