Cousins Properties Inc (NYSE:CUZ) announced a quarterly dividend on Wednesday, September 18th, Zacks reports. Investors of record on Thursday, October 3rd will be paid a dividend of 0.29 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.16 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Wednesday, October 2nd.
Cousins Properties has decreased its dividend by an average of 7.3% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Cousins Properties has a dividend payout ratio of 190.2% 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 $2.81 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 41.3%.
CUZ traded up $0.82 during midday trading on Friday, hitting $36.53. 1,367,505 shares of the company traded hands, compared to its average volume of 1,106,004. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 3.75 and a beta of 0.90. Cousins Properties has a 52-week low of $30.12 and a 52-week high of $40.40. The business has a 50 day simple moving average of $35.89 and a two-hundred day simple moving average of $24.83.
Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01). The company had revenue of $134.93 million for the quarter, compared to analysts’ expectations of $150.56 million. Cousins Properties had a net margin of 10.61% and a return on equity of 1.71%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. Equities research analysts anticipate that Cousins Properties will post 2.9 earnings per share for the current year.
CUZ has been the subject of a number of research analyst reports. Wells Fargo & Co raised shares of Cousins Properties from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $38.00 to $42.00 in a research note on Thursday, September 19th. ValuEngine downgraded shares of Cousins Properties from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Cousins Properties from a “hold” rating to a “sell” rating and set a $39.00 target price for the company. in a research report on Thursday, September 12th.
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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