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

Cousins Properties (NYSE:CUZ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.630-2.680 for the period, compared to the consensus estimate of 2.650. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.63-2.68 EPS.

Cousins Properties Stock Performance

NYSE:CUZ traded up $2.06 during trading hours on Friday, reaching $27.24. The company had a trading volume of 2,703,780 shares, compared to its average volume of 1,132,019. The firm has a market cap of $4.14 billion, a PE ratio of 55.59, a price-to-earnings-growth ratio of 4.52 and a beta of 1.30. Cousins Properties has a 1-year low of $17.40 and a 1-year high of $27.30. The business’s 50 day moving average price is $23.40 and its 200-day moving average price is $23.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.07 and a quick ratio of 1.07.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data 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 business 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 firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.75 earnings per share. Research analysts forecast that Cousins Properties will post 2.65 EPS for the current year.

Cousins Properties Announces Dividend

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CFO Gregg D. Adzema sold 71,097 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total transaction of $1,657,271.07. Following the completion of the transaction, the chief financial officer now directly owns 85,872 shares in the company, valued at approximately $2,001,676.32. The transaction was disclosed in a document filed with the SEC, which is accessible 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.