Cousins Properties (NYSE:CUZ) Posts Earnings Results, Misses Estimates By $0.61 EPS

Cousins Properties (NYSE:CUZ) released its earnings results on Thursday. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.61), Zacks reports. Cousins Properties had a net margin of 7.25% and a return on equity of 1.30%. The firm had revenue of $212.98 million during the quarter, compared to analysts’ expectations of $208.18 million. During the same quarter in the previous year, the business earned $2.75 EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Cousins Properties updated its FY24 guidance to $2.63-2.68 EPS and its FY 2024 guidance to 2.630-2.680 EPS.

Cousins Properties Stock Up 8.2 %

Shares of Cousins Properties stock traded up $2.06 on Friday, reaching $27.24. The company’s stock had a trading volume of 2,703,780 shares, compared to its average volume of 1,132,019. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 55.61, a P/E/G ratio of 4.17 and a beta of 1.30. The firm’s fifty day simple moving average is $23.40 and its two-hundred day simple moving average is $23.26. Cousins Properties has a 52 week low of $17.40 and a 52 week high of $27.30. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.57.

Cousins Properties Announces Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Cousins Properties currently has a consensus rating of “Hold” and a consensus target price of $23.67.

Insiders Place Their Bets

In other Cousins Properties news, CFO Gregg D. Adzema sold 71,097 shares of Cousins Properties stock in a transaction on 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 sale, the chief financial officer now owns 85,872 shares of the company’s stock, valued at approximately $2,001,676.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.