Cousins Properties (NYSE:CUZ) Issues FY24 Earnings Guidance

Cousins Properties (NYSE:CUZ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.63-2.68 for the period, compared to the consensus EPS estimate of $2.65. Cousins Properties also updated its FY 2024 guidance to 2.630-2.680 EPS.

Cousins Properties Stock Up 8.2 %

Shares of NYSE CUZ traded up $2.06 during midday trading on Friday, hitting $27.24. 2,703,780 shares of the stock traded hands, compared to its average volume of 1,132,019. The company has a market cap of $4.14 billion, a PE ratio of 55.61, a P/E/G ratio of 4.17 and a beta of 1.30. Cousins Properties has a one year low of $17.40 and a one year high of $27.30. The business has a 50 day moving average price of $23.40 and a two-hundred day moving average price of $23.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.07 and a current ratio of 1.07.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61). The company had revenue of $212.98 million during the quarter, compared to analysts’ expectations of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.30%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.75 earnings per share. On average, equities analysts predict that Cousins Properties will post 2.65 EPS for the current year.

Cousins Properties Announces Dividend

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded 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 issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $23.67.

Insider Transactions at Cousins Properties

In other Cousins Properties news, CFO Gregg D. Adzema sold 71,097 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value 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 approximately $2,001,676.32. The sale was disclosed in a filing with the SEC, which can be accessed through 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.