Cousins Properties (NYSE:CUZ) Updates 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.

Cousins Properties Stock Performance

Shares of NYSE:CUZ traded down $0.07 during trading on Thursday, hitting $23.05. 1,839,121 shares of the company traded hands, compared to its average volume of 1,592,911. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 6.13 and a beta of 1.27. The business’s fifty day moving average is $23.08 and its 200-day moving average is $22.13. Cousins Properties has a one year low of $17.40 and a one year high of $25.19. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.54.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.53). Cousins Properties had a return on equity of 1.81% and a net margin of 10.33%. The business had revenue of $197.00 million during the quarter, compared to the consensus estimate of $198.47 million. During the same period last year, the company earned $0.66 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that Cousins Properties will post 2.61 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

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

Analyst Ratings Changes

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

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.