Equities analysts forecast that Cousins Properties Inc (NYSE:CUZ) will post sales of $116.22 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cousins Properties’ earnings, with the highest sales estimate coming in at $117.88 million and the lowest estimate coming in at $114.16 million. Cousins Properties reported sales of $113.16 million during the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 24th.
According to Zacks, analysts expect that Cousins Properties will report full-year sales of $467.41 million for the current year, with estimates ranging from $455.82 million to $477.00 million. For the next year, analysts forecast that the company will post sales of $493.86 million, with estimates ranging from $461.85 million to $513.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Cousins Properties.
Cousins Properties (NYSE:CUZ) last announced its quarterly earnings data on Wednesday, July 25th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.10). The business had revenue of $113.70 million during the quarter, compared to analysts’ expectations of $115.28 million. Cousins Properties had a return on equity of 2.86% and a net margin of 17.63%. Cousins Properties’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 EPS.
CUZ has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Cousins Properties from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. SunTrust Banks restated a “buy” rating and issued a $10.00 price objective on shares of Cousins Properties in a report on Thursday, July 26th. TheStreet cut shares of Cousins Properties from a “b-” rating to a “c+” rating in a report on Friday, October 5th. Bank of America cut their price target on shares of Cousins Properties from $10.50 to $10.25 and set a “buy” rating on the stock in a report on Monday, September 10th. Finally, ValuEngine cut shares of Cousins Properties from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.92.
In other news, insider John S. Mccoll sold 14,333 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $9.26, for a total transaction of $132,723.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.94% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Cbre Clarion Securities LLC purchased a new stake in Cousins Properties in the second quarter worth approximately $143,743,000. Bank of New York Mellon Corp boosted its holdings in Cousins Properties by 28.6% in the second quarter. Bank of New York Mellon Corp now owns 9,341,948 shares of the real estate investment trust’s stock worth $90,522,000 after purchasing an additional 2,077,127 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Cousins Properties by 1,338.2% in the second quarter. Macquarie Group Ltd. now owns 1,894,799 shares of the real estate investment trust’s stock worth $18,360,000 after purchasing an additional 1,763,049 shares during the last quarter. BlackRock Inc. boosted its holdings in Cousins Properties by 2.0% in the second quarter. BlackRock Inc. now owns 59,096,690 shares of the real estate investment trust’s stock worth $572,646,000 after purchasing an additional 1,175,093 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Cousins Properties by 9.6% in the second quarter. Northern Trust Corp now owns 11,760,386 shares of the real estate investment trust’s stock worth $113,959,000 after purchasing an additional 1,032,786 shares during the last quarter.
CUZ traded up $0.05 during midday trading on Wednesday, reaching $8.37. The company’s stock had a trading volume of 2,558,329 shares, compared to its average volume of 4,445,199. The stock has a market cap of $3.50 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.97 and a current ratio of 1.97. Cousins Properties has a 1 year low of $8.22 and a 1 year high of $9.88.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Wednesday, October 3rd were issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, October 2nd. Cousins Properties’s payout ratio is 42.62%.
Cousins Properties Company Profile
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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