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

Cousins Properties (NYSE:CUZ) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.600-2.670 for the period, compared to the consensus earnings per share estimate of 2.620. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.60-$2.67 EPS.

Analysts Set New Price Targets

Several analysts recently commented on CUZ shares. Barclays reduced their target price on shares of Cousins Properties from $29.00 to $25.00 and set an overweight rating for the company in a report on Wednesday, March 27th. StockNews.com raised shares of Cousins Properties from a sell rating to a hold rating in a report on Thursday, April 11th. Finally, Truist Financial reduced their target price on shares of 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $23.67.

Cousins Properties Stock Performance

NYSE CUZ traded down $0.07 during trading on Thursday, reaching $23.05. The company’s stock had a trading volume of 1,839,121 shares, compared to its average volume of 1,592,911. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 42.04, a price-to-earnings-growth ratio of 6.13 and a beta of 1.27. Cousins Properties has a 12 month low of $17.40 and a 12 month high of $25.19. The firm has a 50 day moving average price of $23.08 and a 200 day moving average price of $22.13.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.53). Cousins Properties had a net margin of 10.33% and a return on equity of 1.81%. The business had revenue of $197.00 million during the quarter, compared to the consensus estimate of $198.47 million. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Cousins Properties will post 2.61 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The company also recently declared 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 5.55%. The ex-dividend date was Wednesday, April 3rd. Cousins Properties’s dividend payout ratio (DPR) is presently 232.73%.

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.