Cousins Properties Inc (CUZ) Declares $0.06 Quarterly Dividend

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 2.61%. The ex-dividend date of this dividend 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 increased 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. 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 $9.19 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. The stock has a market capitalization of $3,910.39, a PE ratio of 14.78 and a beta of 1.09. Cousins Properties has a fifty-two week low of $7.81 and a fifty-two week high of $9.63.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.12). The firm had revenue of $113.20 million for the quarter, compared to the consensus estimate of $113.51 million. Cousins Properties had a return on equity of 8.39% and a net margin of 48.08%. The firm’s quarterly revenue was up 132.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 earnings per share. analysts anticipate that Cousins Properties will post 0.61 EPS for the current year.

In other news, insider S Taylor Glover sold 74,351 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $9.41, for a total transaction of $699,642.91. Following the transaction, the insider now owns 485,284 shares in the company, valued at $4,566,522.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.14% of the stock is currently owned by company insiders.

A number of research firms recently issued reports on CUZ. ValuEngine upgraded Cousins Properties from a “hold” rating to a “buy” rating in a report on Tuesday, October 10th. Zacks Investment Research cut Cousins Properties from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Bank of America increased their price target on Cousins Properties from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, October 3rd. SunTrust Banks reissued a “buy” rating and set a $10.00 price target on shares of Cousins Properties in a research report on Monday, October 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $10.50 price target on shares of Cousins Properties in a research report on Thursday, September 21st. One research analyst has rated the stock with a hold rating and six have given 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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Cousins Properties Company Profile

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.

Dividend History for Cousins Properties (NYSE:CUZ)

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