Cousins Properties (NYSE:CUZ) Releases FY24 Earnings Guidance

Cousins Properties (NYSE:CUZ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.66-2.70 for the period, compared to the consensus estimate of $2.67. Cousins Properties also updated its FY 2024 guidance to 2.660-2.700 EPS.

Cousins Properties Price Performance

NYSE CUZ traded up $0.17 on Friday, reaching $31.54. The company had a trading volume of 1,625,314 shares, compared to its average volume of 1,303,659. Cousins Properties has a 12 month low of $17.40 and a 12 month high of $32.17. The stock has a market capitalization of $4.80 billion, a PE ratio of 64.40, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30. The firm’s 50 day moving average price is $29.24 and its 200 day moving average price is $25.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.

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 analysts’ consensus estimates of $0.66 by ($0.61). Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The business had revenue of $212.98 million during the quarter, compared to analysts’ expectations of $208.18 million. During the same period in the previous year, the business earned $2.75 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Cousins Properties will post 2.67 earnings per share for the current year.

Cousins Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were paid 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 dividend yield of 4.06%. Cousins Properties’s payout ratio is currently 261.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CUZ. Barclays lifted their price objective on shares of Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Robert W. Baird lifted their price target 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. Wells Fargo & Company lifted their price target on shares of Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Truist Financial lifted their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Evercore ISI lifted their price target on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Insider Activity at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares in the company, valued at $352,440.77. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing 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

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.