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

Cousins Properties (NYSE:CUZ) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.660-2.700 for the period, compared to the consensus estimate of 2.670. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.66-2.70 EPS.

Analysts Set New Price Targets

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

Cousins Properties Price Performance

Shares of Cousins Properties stock traded up $0.18 on Friday, reaching $31.56. 1,625,314 shares of the stock were exchanged, compared to its average volume of 1,303,659. The firm’s 50 day moving average is $29.16 and its 200-day moving average is $25.69. The firm has a market cap of $4.80 billion, a PE ratio of 64.35, a P/E/G ratio of 4.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. Cousins Properties has a one year low of $17.40 and a one year high of $32.17.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data 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). 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 analyst estimates of $208.18 million. During the same period last year, the business earned $2.75 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Cousins Properties will post 2.67 EPS for the current fiscal year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.28 dividend on an annualized basis and a yield of 4.06%. Cousins Properties’s dividend payout ratio is currently 261.22%.

Insider Transactions at Cousins Properties

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the completion of the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.