Cousins Properties Inc (NYSE:CUZ) declared a quarterly dividend on Thursday, June 18th, Zacks reports. Shareholders 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 yield of 4.00%. The ex-dividend date of this dividend is Thursday, July 2nd.
Cousins Properties has decreased its dividend by an average of 74.8% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Cousins Properties has a dividend payout ratio of 179.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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%.
Shares of NYSE CUZ opened at $30.03 on Tuesday. Cousins Properties has a 1 year low of $21.15 and a 1 year high of $42.99. The stock has a fifty day moving average price of $30.08 and a two-hundred day moving average price of $34.48. The firm has a market cap of $4.34 billion, a P/E ratio of 15.64, a PEG ratio of 3.95 and a beta of 0.97. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.82 and a current ratio of 1.82.
Cousins Properties (NYSE:CUZ) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.48. The business had revenue of $189.13 million during the quarter, compared to analyst estimates of $183.92 million. Cousins Properties had a return on equity of 6.55% and a net margin of 40.35%. Cousins Properties’s quarterly revenue was up 52.7% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. On average, research analysts predict that Cousins Properties will post 2.74 earnings per share for the current fiscal year.
In other Cousins Properties news, EVP Richard G. Iv Hickson purchased 2,500 shares of the stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $25.41 per share, with a total value of $63,525.00. 0.67% of the stock is currently owned by corporate insiders.
Several equities analysts have recently issued reports on CUZ shares. TheStreet raised Cousins Properties from a “c” rating to a “b-” rating in a research note on Wednesday, June 24th. Stifel Nicolaus increased their price target on shares of Cousins Properties from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, April 3rd. ValuEngine cut shares of Cousins Properties from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Finally, Robert W. Baird increased their price target on shares of Cousins Properties from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.25.
Cousins Properties Company Profile
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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