Cousins Properties (NYSE:CUZ) Updates FY24 Earnings Guidance

Cousins Properties (NYSE:CUZ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.60-$2.67 for the period, compared to the consensus earnings per share estimate of $2.62. Cousins Properties also updated its FY 2024 guidance to 2.600-2.670 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays lowered their price objective on shares of Cousins Properties from $29.00 to $25.00 and set an overweight rating on the stock in a research report on Wednesday, March 27th. StockNews.com raised shares of Cousins Properties from a sell rating to a hold rating in a research note on Thursday, April 11th. Finally, Truist Financial cut their price objective on Cousins Properties from $27.00 to $26.00 and set a buy rating for the company in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cousins Properties has an average rating of Hold and a consensus price target of $23.67.

Cousins Properties Stock Performance

CUZ traded down $0.18 on Friday, hitting $22.86. The company had a trading volume of 2,938,154 shares, compared to its average volume of 1,164,756. The company’s fifty day moving average price is $23.05 and its 200 day moving average price is $22.18. Cousins Properties has a 1-year low of $17.40 and a 1-year high of $25.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 46.65, a price-to-earnings-growth ratio of 6.17 and a beta of 1.27.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.53). Cousins Properties had a net margin of 9.15% and a return on equity of 1.62%. The company had revenue of $197.00 million during the quarter, compared to the consensus estimate of $198.47 million. During the same period last year, the company earned $0.66 earnings per share. Cousins Properties’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts predict that Cousins Properties will post 2.62 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, April 4th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date was Wednesday, April 3rd. Cousins Properties’s payout ratio is 261.22%.

Cousins Properties Company Profile

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.