Cousins Properties Incorporated (NYSE:CUZ) declared a quarterly dividend on Wednesday, September 20th, Wall Street Journal reports. Shareholders of record on Monday, October 2nd will be given a dividend of 0.06 per share by the real estate investment trust on Thursday, October 12th. This represents a $0.24 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, September 29th.
Cousins Properties has increased its dividend by an average of 10.1% annually over the last three years and has increased its dividend every year for the last 3 years. Cousins Properties has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cousins Properties to earn $0.11 per share next year, which means the company may not be able to cover its $0.24 annual dividend with an expected future payout ratio of 218.2%.
Cousins Properties (NYSE:CUZ) traded down 0.53% during trading on Wednesday, reaching $9.32. 2,528,258 shares of the company’s stock traded hands. The firm has a 50 day moving average of $9.22 and a 200 day moving average of $8.73. The firm has a market capitalization of $3.91 billion, a PE ratio of 14.96 and a beta of 1.06. Cousins Properties has a 1-year low of $7.09 and a 1-year high of $10.86.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $119.00 million during the quarter, compared to the consensus estimate of $114.68 million. Cousins Properties had a net margin of 49.99% and a return on equity of 9.37%. The company’s quarterly revenue was up 146.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. Equities analysts forecast that Cousins Properties will post $0.45 EPS for the current year.
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A number of equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating in a report on Monday, August 14th. Stifel Nicolaus upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and lifted their price target for the stock from $8.50 to $10.50 in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Wednesday, July 5th. Finally, ValuEngine downgraded shares of Cousins Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $10.17.
About Cousins Properties
Cousins Properties Incorporated is a self-administered and self-managed real estate investment trust. The Company’s segments include Office, Mixed-Use, Other, Atlanta, Austin, Charlotte, Orlando, Tampa, Phoenix and Other. It develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in Sunbelt markets with a focus on Georgia, Texas and North Carolina.
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