Cousins Properties (NYSE:CUZ) Releases FY24 Earnings Guidance

Cousins Properties (NYSE:CUZ) updated its FY24 earnings guidance on Thursday. 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.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial raised their price objective on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays raised their price objective on Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Robert W. Baird raised their target price on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their target price on Cousins Properties from $26.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Finally, Evercore ISI raised their target price on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cousins Properties has a consensus rating of “Moderate Buy” and an average price target of $30.67.

Cousins Properties Price Performance

Shares of Cousins Properties stock traded up $0.13 during midday trading on Thursday, hitting $31.38. 1,086,333 shares of the company were exchanged, compared to its average volume of 1,302,097. The firm has a 50 day simple moving average of $29.16 and a 200-day simple moving average of $25.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. Cousins Properties has a 52 week low of $17.40 and a 52 week high of $31.98. The firm has a market cap of $4.77 billion, a P/E ratio of 64.04, a PEG 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.61). Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The business had revenue of $212.98 million during the quarter, compared to the consensus estimate of $208.18 million. During the same quarter in the previous year, the firm posted $2.75 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts forecast that Cousins Properties will post 2.67 earnings per share for the current year.

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, October 3rd were given a $0.32 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 annualized dividend and a yield of 4.08%. Cousins Properties’s payout ratio is 261.22%.

Insider Buying and Selling at Cousins Properties

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 value 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.