Brokerages expect that Cousins Properties (NYSE:CUZ) will report sales of $109.81 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Cousins Properties’ earnings, with the lowest sales estimate coming in at $106.56 million and the highest estimate coming in at $113.64 million. Cousins Properties posted sales of $112.52 million in the same quarter last year, which suggests a negative year-over-year growth rate of 2.4%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Cousins Properties will report full year sales of $447.82 million for the current year, with estimates ranging from $433.16 million to $457.97 million. For the next year, analysts anticipate that the firm will post sales of $467.31 million per share, with estimates ranging from $439.95 million to $487.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cousins Properties.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.07). Cousins Properties had a return on equity of 7.77% and a net margin of 46.90%. The firm had revenue of $109.94 million during the quarter, compared to the consensus estimate of $109.05 million.
Several analysts recently commented on CUZ shares. Zacks Investment Research lowered Cousins Properties from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. SunTrust Banks set a $10.00 price objective on Cousins Properties and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, ValuEngine lowered Cousins Properties from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Cousins Properties presently has an average rating of “Buy” and a consensus target price of $10.10.
A number of large investors have recently added to or reduced their stakes in the business. OppenheimerFunds Inc. grew its holdings in Cousins Properties by 14.1% during the fourth quarter. OppenheimerFunds Inc. now owns 48,525 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 6,014 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cousins Properties by 21.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,061 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 6,359 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in Cousins Properties by 9.2% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 100,020 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 8,400 shares during the period. Meadow Creek Investment Management LLC grew its holdings in Cousins Properties by 19.0% during the fourth quarter. Meadow Creek Investment Management LLC now owns 61,370 shares of the real estate investment trust’s stock valued at $568,000 after purchasing an additional 9,792 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Cousins Properties by 1.4% during the third quarter. Wells Fargo & Company MN now owns 885,533 shares of the real estate investment trust’s stock valued at $8,271,000 after purchasing an additional 11,833 shares during the period.
Shares of CUZ traded up $0.12 during trading hours on Wednesday, hitting $8.57. The stock had a trading volume of 3,121,905 shares, compared to its average volume of 3,489,046. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.02 and a quick ratio of 2.02. Cousins Properties has a 12 month low of $7.81 and a 12 month high of $9.63. The firm has a market capitalization of $3,548.91, a P/E ratio of 13.41, a PEG ratio of 3.55 and a beta of 0.92.
The business also recently declared a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Tuesday, April 3rd were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 3.03%. The ex-dividend date was Monday, April 2nd. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.06. Cousins Properties’s payout ratio is currently 42.62%.
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About Cousins Properties
Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA, acting through its operating partnership, Cousins Properties LP, primarily invests in Class-A office towers located in high growth Sunbelt markets.
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