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

Cousins Properties Incorporated (NYSE:CUZ) announced a quarterly dividend on Tuesday, September 17th, NASDAQ reports. Investors of record on Thursday, October 3rd will be given a dividend of 0.32 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Thursday, October 3rd.

Cousins Properties has decreased its dividend by an average of 4.9% annually over the last three years. Cousins Properties has a dividend payout ratio of 581.8% 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 $2.71 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 47.2%.

Cousins Properties Stock Down 0.5 %

CUZ opened at $29.33 on Wednesday. The business’s fifty day simple moving average is $27.92 and its 200 day simple moving average is $24.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. Cousins Properties has a 52 week low of $17.40 and a 52 week high of $30.50. The firm has a market cap of $4.46 billion, a P/E ratio of 59.85, a PEG ratio of 4.90 and a beta of 1.31.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). The business had revenue of $212.98 million during the quarter, compared to analyst estimates of $208.18 million. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.75 earnings per share. As a group, equities research analysts anticipate that Cousins Properties will post 2.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial raised their target price on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 30th. Barclays boosted their price objective on Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Robert W. Baird boosted their price target on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Evercore ISI boosted their price target 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. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.29.

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.