Cousins Properties Incorporated (CUZ) to Issue Quarterly Dividend of $0.32 on July 15th

Cousins Properties Incorporated (NYSE:CUZ) announced a quarterly dividend on Tuesday, June 18th, NASDAQ reports. Investors of record on Wednesday, July 3rd will be paid a dividend of 0.32 per share by the real estate investment trust on Monday, July 15th. This represents a $1.28 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend is Wednesday, July 3rd.

Cousins Properties has decreased its dividend payment by an average of 4.9% annually over the last three years. Cousins Properties has a payout ratio of 272.3% meaning 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 $2.68 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 47.8%.

Cousins Properties Trading Up 2.9 %

Shares of CUZ opened at $23.15 on Monday. The company’s fifty day simple moving average is $23.15 and its 200-day simple moving average is $23.28. The company has a market cap of $3.52 billion, a P/E ratio of 47.24, a P/E/G ratio of 3.84 and a beta of 1.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.57. Cousins Properties has a twelve month low of $17.40 and a twelve month high of $25.19.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Friday, April 26th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.54). Cousins Properties had a return on equity of 1.62% and a net margin of 9.15%. The firm had revenue of $209.20 million during the quarter, compared to analysts’ expectations of $199.35 million. During the same period last year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts expect that Cousins Properties will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CUZ. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Barclays lowered their target price on shares of 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 investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.67.

Insider Buying and Selling at Cousins Properties

In other Cousins Properties news, CFO Gregg D. Adzema sold 71,097 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $1,657,271.07. Following the completion of the sale, the chief financial officer now directly owns 85,872 shares in the company, valued at approximately $2,001,676.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.

Cousins Properties Company Profile

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.