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

Cousins Properties (NYSE:CUZ - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.660-2.700 for the period, compared to the consensus estimate of 2.670. The company issued revenue guidance of -. Cousins Properties also updated its FY24 guidance to $2.66-2.70 EPS.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Cousins Properties from $26.00 to $31.00 and gave the company an "overweight" rating in a research note on Wednesday, September 11th. Truist Financial lifted their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Barclays lifted their price target on shares of Cousins Properties from $30.00 to $35.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Robert W. Baird boosted their price objective on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Finally, Evercore ISI boosted their price objective on shares of Cousins Properties from $29.00 to $30.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $30.67.

Cousins Properties Stock Performance

Shares of Cousins Properties stock traded up $0.12 during trading on Thursday, hitting $31.37. 1,086,313 shares of the stock were exchanged, compared to its average volume of 1,302,097. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 64.02, a price-to-earnings-growth ratio of 4.41 and a beta of 1.30. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $29.07 and a 200-day moving average price of $25.65. Cousins Properties has a 1-year low of $17.40 and a 1-year high of $31.98.

Cousins Properties (NYSE:CUZ - Get Free Report) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.61). The company had revenue of $212.98 million for the quarter, compared to the consensus estimate of $208.18 million. Cousins Properties had a return on equity of 1.31% and a net margin of 7.25%. The business's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 EPS. As a group, equities analysts predict that Cousins Properties will post 2.67 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Thursday, October 3rd. Cousins Properties's payout ratio is 261.22%.

Insider Buying and Selling

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the business's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares of the company's stock, valued at $352,440.77. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

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.

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