Cousins Properties (NYSE:CUZ) Issues FY 2024 Earnings Guidance

Cousins Properties (NYSE:CUZ) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.630-2.680 for the period, compared to the consensus EPS estimate of 2.650. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.63-2.68 EPS.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Cousins Properties from a sell rating to a hold rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $23.67.

Cousins Properties Stock Up 8.2 %

CUZ stock traded up $2.07 during trading hours on Friday, reaching $27.25. 2,703,670 shares of the stock were exchanged, compared to its average volume of 1,410,031. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 55.59, a PEG ratio of 4.12 and a beta of 1.30. The firm’s 50-day moving average is $23.33 and its 200-day moving average is $23.24. 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 12 month low of $17.40 and a 12 month high of $27.30.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.54). The company had revenue of $209.20 million during the quarter, compared to the consensus estimate of $199.35 million. Cousins Properties had a net margin of 9.15% and a return on equity of 1.62%. Cousins Properties’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. On average, equities research analysts expect that Cousins Properties will post 2.65 earnings per share for the current year.

Cousins Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Wednesday, July 3rd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Wednesday, July 3rd. Cousins Properties’s payout ratio is 261.22%.

Insider Activity

In related news, CFO Gregg D. Adzema sold 71,097 shares of Cousins Properties stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total transaction of $1,657,271.07. Following the completion of the transaction, the chief financial officer now owns 85,872 shares in the company, valued at $2,001,676.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

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.