Cousins Properties Incorporated (NYSE:CUZ) Plans $0.32 Quarterly Dividend

Cousins Properties Incorporated (NYSE:CUZ - Get Free Report) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Thursday, April 3rd will be paid a dividend of 0.32 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.28 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Thursday, April 3rd.

Cousins Properties has decreased its dividend payment by an average of 0.8% annually over the last three years. Cousins Properties has a dividend payout ratio of 272.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cousins Properties to earn $2.84 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 45.1%.

Cousins Properties Stock Performance

Shares of NYSE:CUZ traded down $0.22 during trading on Friday, reaching $29.61. The stock had a trading volume of 2,973,561 shares, compared to its average volume of 1,208,545. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $29.95 and a two-hundred day simple moving average of $30.17. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 98.70, a P/E/G ratio of 2.98 and a beta of 1.28. Cousins Properties has a 52 week low of $21.58 and a 52 week high of $32.55.

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Cousins Properties (NYSE:CUZ - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.62. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. As a group, analysts anticipate that Cousins Properties will post 2.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CUZ has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Cousins Properties from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Mizuho raised Cousins Properties from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $22.00 to $30.00 in a report on Tuesday, January 7th. Jefferies Financial Group assumed coverage on Cousins Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $35.00 price target on the stock. BMO Capital Markets lowered Cousins Properties from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from $31.00 to $32.00 in a research note on Tuesday, December 3rd. Finally, KeyCorp raised shares of Cousins Properties from a "sector weight" rating to an "overweight" rating and set a $34.00 target price on the stock in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.89.

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.