Cousins Properties (CUZ) Set to Announce Quarterly Earnings on Thursday

Cousins Properties (NYSE:CUZ) will issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.64 per share for the quarter. Cousins Properties has set its FY24 guidance at $2.57-2.67 EPS and its FY 2024 guidance at 2.570-2.670 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Cousins Properties (NYSE:CUZ) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.53). Cousins Properties had a net margin of 10.33% and a return on equity of 1.81%. The firm had revenue of $197.00 million for the quarter, compared to analysts’ expectations of $198.47 million. During the same quarter last year, the business earned $0.66 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. On average, analysts expect Cousins Properties to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cousins Properties Stock Performance

Shares of Cousins Properties stock opened at $21.90 on Thursday. The business has a 50-day moving average of $23.12 and a 200 day moving average of $22.01. Cousins Properties has a 12 month low of $17.40 and a 12 month high of $25.19. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 39.81, a price-to-earnings-growth ratio of 5.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.76 and a quick ratio of 0.76.

Cousins Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, April 4th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date was Wednesday, April 3rd. Cousins Properties’s dividend payout ratio (DPR) is 232.73%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial decreased their price objective on Cousins Properties from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, Barclays decreased their price objective on Cousins Properties from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.29.

Institutional Investors Weigh In On Cousins Properties

Several institutional investors have recently added to or reduced their stakes in CUZ. Belpointe Asset Management LLC lifted its stake in Cousins Properties by 104.9% during the first quarter. Belpointe Asset Management LLC now owns 1,348 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 690 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Cousins Properties during the first quarter worth approximately $39,000. Point72 Hong Kong Ltd purchased a new stake in Cousins Properties during the fourth quarter worth approximately $41,000. Covestor Ltd lifted its stake in Cousins Properties by 89.2% during the first quarter. Covestor Ltd now owns 1,050 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 495 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Cousins Properties by 68.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,997 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 808 shares during the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

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.