Cousins Properties Incorporated (NYSE:CUZ) to Issue $0.32 Quarterly Dividend

Cousins Properties Incorporated (NYSE:CUZGet Free Report) announced a quarterly dividend on Tuesday, June 18th, NASDAQ reports. Stockholders of record on Wednesday, July 3rd will be given a dividend of 0.32 per share by the real estate investment trust on Monday, July 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date is Wednesday, July 3rd.

Cousins Properties has decreased its dividend payment by an average of 4.9% per year over the last three years. Cousins Properties has a payout ratio of 266.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cousins Properties to earn $2.67 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 47.9%.

Cousins Properties Trading Up 1.7 %

Cousins Properties stock traded up $0.40 during midday trading on Wednesday, reaching $23.30. The stock had a trading volume of 986,849 shares, compared to its average volume of 906,903. The firm’s fifty day simple moving average is $23.05 and its two-hundred day simple moving average is $23.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.07 and a quick ratio of 1.07. Cousins Properties has a twelve month low of $17.40 and a twelve month high of $25.19. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 3.81 and a beta of 1.28.

Cousins Properties (NYSE:CUZGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.54). The business had revenue of $209.20 million during the quarter, compared to analysts’ expectations of $199.35 million. Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. Equities analysts anticipate that Cousins Properties will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling at Cousins Properties

In related news, CFO Gregg D. Adzema sold 71,097 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $1,657,271.07. Following the completion of the transaction, the chief financial officer now directly owns 85,872 shares in the company, valued at $2,001,676.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays reduced their price objective on Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. raised Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.67.

Check Out Our Latest Analysis on Cousins Properties

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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Dividend History for Cousins Properties (NYSE:CUZ)

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