Cousins Properties (NYSE:CUZ – Get Free Report) released its earnings results on Thursday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60), Zacks reports. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The firm had revenue of $209.21 million for the quarter, compared to analyst estimates of $212.54 million. During the same period in the previous year, the firm earned $0.65 earnings per share. Cousins Properties’s revenue was up 5.2% on a year-over-year basis. Cousins Properties updated its FY24 guidance to $2.66-2.70 EPS and its FY 2024 guidance to 2.660-2.700 EPS.
Cousins Properties Trading Up 0.5 %
Shares of NYSE:CUZ traded up $0.17 during midday trading on Friday, reaching $31.54. The company’s stock had a trading volume of 1,625,314 shares, compared to its average volume of 1,303,659. Cousins Properties has a fifty-two week low of $17.40 and a fifty-two week high of $32.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a 50 day moving average price of $29.24 and a two-hundred day moving average price of $25.79. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 64.37, a PEG ratio of 4.41 and a beta of 1.30.
Cousins Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 261.22%.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on CUZ
Insiders Place Their Bets
In related news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $28.13, for a total transaction of $168,695.61. Following the transaction, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at $352,440.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.
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