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 EPS guidance of $2.63-2.68 for the period, compared to the consensus EPS estimate of $2.65. Cousins Properties also updated its FY 2024 guidance to 2.630-2.680 EPS.

Cousins Properties Stock Performance

Shares of NYSE CUZ traded up $2.06 during midday trading on Friday, hitting $27.24. The company’s stock had a trading volume of 2,703,780 shares, compared to its average volume of 1,132,019. The stock has a fifty day moving average price of $23.40 and a 200 day moving average price of $23.26. Cousins Properties has a one year low of $17.40 and a one year high of $27.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 55.59, a P/E/G ratio of 4.52 and a beta of 1.30.

Cousins Properties (NYSE:CUZ) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). The firm had revenue of $212.98 million for the quarter, compared to the consensus estimate of $208.18 million. Cousins Properties had a return on equity of 1.30% and a net margin of 7.25%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $2.75 EPS. On average, research analysts forecast that Cousins Properties will post 2.65 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date was Wednesday, July 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Cousins Properties from a sell rating to a hold rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $23.67.

Insider Transactions at Cousins Properties

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

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.