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

Cousins Properties Incorporated (NYSE:CUZ) declared a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Thursday, April 3rd will be given a dividend of 0.32 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.28 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Thursday, April 3rd.

Cousins Properties has decreased its dividend by an average of 0.8% per year 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 $2.84 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 45.1%.

Cousins Properties Price Performance

Shares of NYSE:CUZ opened at $29.81 on Thursday. The business’s 50 day simple moving average is $29.92 and its 200-day simple moving average is $30.17. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 99.38, a price-to-earnings-growth ratio of 2.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.74 and a quick ratio of 0.74. Cousins Properties has a 12 month low of $21.58 and a 12 month high of $32.55.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.69 EPS for the quarter, topping the consensus estimate of $0.07 by $0.62. Cousins Properties had a return on equity of 1.00% and a net margin of 5.36%. As a group, equities analysts forecast that Cousins Properties will post 2.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CUZ has been the topic of a number of recent research reports. Truist Financial upped their target price on Cousins Properties from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a research note on Tuesday. Barclays reduced their target price on Cousins Properties from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group started coverage on Cousins Properties in a research note on Monday. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Robert W. Baird cut their price target on Cousins Properties from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cousins Properties presently has a consensus rating of “Moderate Buy” and an average target price of $32.89.

About Cousins Properties

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.