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

Cousins Properties (NYSE:CUZ) is scheduled to be issuing 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 the consensus estimate of $0.65 by ($0.53). The company had revenue of $197.00 million for the quarter, compared to analysts’ expectations of $198.47 million. Cousins Properties had a net margin of 10.33% and a return on equity of 1.81%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. 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 NYSE:CUZ opened at $21.90 on Thursday. The company has a market cap of $3.33 billion, a P/E ratio of 39.81, a PEG ratio of 5.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.76 and a current ratio of 0.76. Cousins Properties has a one year low of $17.40 and a one year high of $25.19. The business’s 50-day simple moving average is $23.12 and its 200 day simple moving average is $22.01.

Cousins Properties Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.28 annualized dividend and a dividend yield of 5.85%. Cousins Properties’s payout ratio is currently 232.73%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Cousins Properties

A number of hedge funds have recently bought and sold shares of CUZ. Norges Bank acquired a new stake in Cousins Properties during the 4th quarter valued at approximately $38,681,000. Morgan Stanley grew its position in shares of Cousins Properties by 114.1% in the 3rd quarter. Morgan Stanley now owns 2,143,922 shares of the real estate investment trust’s stock worth $43,672,000 after acquiring an additional 1,142,746 shares in the last quarter. State Street Corp grew its position in shares of Cousins Properties by 14.1% in the 1st quarter. State Street Corp now owns 8,217,746 shares of the real estate investment trust’s stock worth $331,093,000 after acquiring an additional 1,015,078 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Cousins Properties in the 4th quarter worth approximately $18,873,000. Finally, Weiss Multi Strategy Advisers LLC grew its position in shares of Cousins Properties by 25.4% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 3,323,897 shares of the real estate investment trust’s stock worth $80,937,000 after acquiring an additional 673,897 shares in the last quarter. Institutional investors and hedge funds 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.