Cousins Properties Inc (NYSE:CUZ) declared a quarterly dividend on Thursday, June 18th, Zacks reports. Investors of record on Monday, July 6th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, July 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Thursday, July 2nd.
Cousins Properties has decreased its dividend payment by an average of 74.8% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Cousins Properties has a dividend payout ratio of 179.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Cousins Properties to earn $2.74 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 43.8%.
CUZ opened at $30.03 on Tuesday. The stock has a fifty day simple moving average of $30.08 and a two-hundred day simple moving average of $34.48. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.43. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 3.95 and a beta of 0.97. Cousins Properties has a 12-month low of $21.15 and a 12-month high of $42.99.
Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.48. The business had revenue of $189.13 million during the quarter, compared to the consensus estimate of $183.92 million. Cousins Properties had a return on equity of 6.55% and a net margin of 40.35%. The firm’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. On average, analysts predict that Cousins Properties will post 2.74 EPS for the current year.
In other Cousins Properties news, EVP Richard G. Iv Hickson acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average cost of $25.41 per share, with a total value of $63,525.00. Company insiders own 0.67% of the company’s stock.
A number of equities analysts have issued reports on the company. TheStreet upgraded Cousins Properties from a “c” rating to a “b-” rating in a report on Wednesday, June 24th. Stifel Nicolaus increased their target price on Cousins Properties from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, April 3rd. ValuEngine cut Cousins Properties from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Finally, Robert W. Baird increased their target price on Cousins Properties from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Cousins Properties presently has a consensus rating of “Hold” and an average target price of $40.25.
About Cousins Properties
Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.
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