Cousins Properties Incorporated (NYSE:CUZ) Plans Quarterly Dividend of $0.32

Cousins Properties Incorporated (NYSE:CUZ – Get Rating) declared a quarterly dividend on Tuesday, June 21st, Zacks reports. Stockholders of record on Wednesday, July 6th will be given a dividend of 0.32 per share by the real estate investment trust on Friday, July 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Tuesday, July 5th.

Cousins Properties has increased its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend every year for the last 5 years. Cousins Properties has a payout ratio of 136.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Cousins Properties to earn $2.86 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 44.8%.

Shares of CUZ opened at $29.36 on Thursday. The business’s 50 day moving average is $34.43 and its 200 day moving average is $37.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51. Cousins Properties has a 12-month low of $28.67 and a 12-month high of $42.41. The company has a market capitalization of $4.37 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 3.22 and a beta of 1.02.

Cousins Properties (NYSE:CUZ – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.48). Cousins Properties had a net margin of 36.88% and a return on equity of 6.12%. The company had revenue of $186.90 million for the quarter, compared to the consensus estimate of $184.82 million. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts predict that Cousins Properties will post 2.73 earnings per share for the current year.

CUZ has been the subject of several research reports. StockNews.com initiated coverage on shares of Cousins Properties in a report on Thursday, March 31st. They set a “hold” rating for the company. Truist Financial reduced their price objective on Cousins Properties to $38.00 in a research note on Thursday, May 26th. Finally, Mizuho started coverage on Cousins Properties in a research report on Friday, April 22nd. They set a “neutral” rating and a $41.00 target price for the company.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in Cousins Properties during the 1st quarter valued at $39,000. Covestor Ltd increased its position in Cousins Properties by 89.2% during the first quarter. Covestor Ltd now owns 1,050 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 495 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Cousins Properties by 160.9% in the first quarter. Brown Brothers Harriman & Co. now owns 1,234 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 761 shares during the period. Carolinas Wealth Consulting LLC lifted its holdings in shares of Cousins Properties by 240.2% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 2,259 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 1,595 shares during the last quarter. Finally, First Manhattan Co. bought a new stake in shares of Cousins Properties in the 1st quarter worth about $97,000. 98.47% of the stock is currently owned by hedge funds and other institutional investors.

Cousins Properties Company Profile (Get Rating)

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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