Cousins Properties (NYSE:CUZ) Issues FY22 Earnings Guidance

Cousins Properties (NYSE:CUZGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided EPS guidance of $2.70-$2.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.74.

NYSE:CUZ traded down $2.22 on Friday, reaching $35.90. 1,446,348 shares of the stock traded hands, compared to its average volume of 732,118. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 3.76 and a beta of 1.01. Cousins Properties has a 1-year low of $34.81 and a 1-year high of $42.41. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $39.06 and its 200-day moving average is $39.27.

Cousins Properties (NYSE:CUZGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.48). Cousins Properties had a net margin of 36.90% and a return on equity of 6.18%. The business had revenue of $186.90 million during the quarter, compared to analyst estimates of $184.82 million. During the same period in the previous year, the business posted $0.69 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Cousins Properties will post 2.73 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Tuesday, April 5th were given a $0.32 dividend. The ex-dividend date was Monday, April 4th. This represents a $1.28 annualized dividend and a yield of 3.57%. This is an increase from Cousins Properties’s previous quarterly dividend of $0.31. Cousins Properties’s dividend payout ratio (DPR) is presently 68.82%.

Several analysts recently issued reports on CUZ shares. StockNews.com began coverage on shares of Cousins Properties in a research report on Thursday, March 31st. They issued a hold rating for the company. Mizuho began coverage on Cousins Properties in a research note on Friday, April 22nd. They set a neutral rating and a $41.00 price objective on the stock.

Large investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Cousins Properties by 4.1% during the 4th quarter. BlackRock Inc. now owns 19,018,135 shares of the real estate investment trust’s stock worth $766,051,000 after purchasing an additional 752,480 shares during the period. Vident Investment Advisory LLC increased its holdings in Cousins Properties by 3.6% in the 4th quarter. Vident Investment Advisory LLC now owns 47,646 shares of the real estate investment trust’s stock worth $1,919,000 after acquiring an additional 1,676 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Cousins Properties by 8.1% in the 4th quarter. Wells Fargo & Company MN now owns 200,833 shares of the real estate investment trust’s stock worth $8,089,000 after acquiring an additional 15,037 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Cousins Properties by 3.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,316,334 shares of the real estate investment trust’s stock worth $53,023,000 after acquiring an additional 44,858 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in Cousins Properties by 4.4% in the 4th quarter. Parametric Portfolio Associates LLC now owns 263,580 shares of the real estate investment trust’s stock worth $10,617,000 after acquiring an additional 11,013 shares during the last quarter. Institutional investors and hedge funds own 96.33% of the company’s stock.

About Cousins Properties (Get Rating)

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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Earnings History and Estimates for Cousins Properties (NYSE:CUZ)

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