Cousins Properties (NYSE:CUZ – Get Free Report) 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.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Evercore ISI increased their price target on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Truist Financial increased their target price on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Robert W. Baird increased 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 increased 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, Barclays increased their target price on Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.67.
Read Our Latest Analysis on Cousins Properties
Cousins Properties Stock Up 0.6 %
Cousins Properties (NYSE:CUZ – Get Free Report) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.61). The business had revenue of $212.98 million for the quarter, compared to analyst estimates of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.75 earnings per share. Sell-side analysts anticipate that Cousins Properties will post 2.67 earnings per share for the current fiscal year.
Cousins Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.32 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.06%. Cousins Properties’s dividend payout ratio is presently 261.22%.
Insider Activity
In related news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties 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 directly owns 12,529 shares in the company, valued at approximately $352,440.77. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.
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