Cousins Properties Inc (CUZ) to Issue Quarterly Dividend of $0.06 on January 12th
Cousins Properties Inc (NYSE:CUZ) declared a quarterly dividend on Wednesday, December 20th, Wall Street Journal reports. Investors of record on Tuesday, January 2nd will be given a dividend of 0.06 per share by the real estate investment trust on Friday, January 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, December 29th.
Cousins Properties has increased its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend every year for the last 3 years. Cousins Properties has a payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cousins Properties to earn $0.63 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 38.1%.
Cousins Properties (NYSE:CUZ) opened at $9.28 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.39. Cousins Properties has a 12-month low of $7.81 and a 12-month high of $9.63. The firm has a market cap of $3,890.00, a PE ratio of 16.00 and a beta of 1.23.
Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Cousins Properties had a net margin of 48.08% and a return on equity of 8.39%. The firm had revenue of $113.20 million for the quarter, compared to the consensus estimate of $113.51 million. During the same period in the previous year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up 132.4% on a year-over-year basis. research analysts predict that Cousins Properties will post 0.61 EPS for the current fiscal year.
In related news, insider S Taylor Glover sold 74,351 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $9.41, for a total transaction of $699,642.91. Following the completion of the sale, the insider now owns 485,284 shares in the company, valued at $4,566,522.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.14% of the company’s stock.
A number of analysts recently issued reports on CUZ shares. Stifel Nicolaus restated a “buy” rating and set a $10.50 price objective on shares of Cousins Properties in a report on Thursday, September 21st. SunTrust Banks restated a “buy” rating and set a $10.00 price objective on shares of Cousins Properties in a report on Monday, October 2nd. Bank of America raised their price objective on shares of Cousins Properties from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Cousins Properties from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Finally, ValuEngine upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Cousins Properties presently has a consensus rating of “Buy” and an average target price of $10.10.
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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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