Cousins Properties Incorporated (CUZ) to Issue Quarterly Dividend of $0.32 on October 15th

Cousins Properties Incorporated (NYSE:CUZ) announced a quarterly dividend on Tuesday, September 17th, NASDAQ reports. Shareholders of record on Thursday, October 3rd will be given a dividend of 0.32 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.28 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, October 3rd.

Cousins Properties has decreased its dividend payment by an average of 4.9% annually over the last three years. Cousins Properties has a dividend payout ratio of 581.8% indicating that 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 $2.69 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 47.6%.

Cousins Properties Stock Performance

Cousins Properties stock opened at $29.14 on Thursday. Cousins Properties has a fifty-two week low of $17.40 and a fifty-two week high of $29.77. The firm’s 50 day simple moving average is $27.12 and its 200-day simple moving average is $24.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $4.43 billion, a P/E ratio of 59.47, a price-to-earnings-growth ratio of 4.73 and a beta of 1.31.

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

Insider Activity at Cousins Properties

In other Cousins Properties news, CAO Jeffrey D. Symes sold 5,997 shares of the business’s stock in a transaction that occurred on 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 directly owns 12,529 shares of the company’s stock, valued at $352,440.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial increased their price objective on Cousins Properties from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Evercore ISI boosted their price objective on shares of Cousins Properties from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday. Robert W. Baird upped their price objective on shares of Cousins Properties from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Barclays lifted their target price on shares of Cousins Properties from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.29.

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.