Cousins Properties Inc (NYSE:CUZ) declared a quarterly dividend on Thursday, June 18th, Zacks reports. Shareholders of record on Monday, July 6th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, July 17th. This represents a $1.20 annualized dividend and a yield of 4.00%. The ex-dividend date is Thursday, July 2nd.
Cousins Properties has decreased its dividend by an average of 74.8% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Cousins Properties has a payout ratio of 179.1% 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 $2.74 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 43.8%.
Shares of CUZ opened at $30.03 on Tuesday. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 3.95 and a beta of 0.97. Cousins Properties has a 1 year low of $21.15 and a 1 year high of $42.99. The business’s 50 day simple moving average is $30.08 and its 200-day simple moving average is $34.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.82 and a quick ratio of 1.82.
A number of equities research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Cousins Properties from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Stifel Nicolaus raised their price objective on Cousins Properties from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, April 3rd. ValuEngine cut Cousins Properties from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Finally, TheStreet upgraded Cousins Properties from a “c” rating to a “b-” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Cousins Properties has a consensus rating of “Hold” and an average price target of $40.25.
In other Cousins Properties news, EVP Richard G. Iv Hickson bought 2,500 shares of Cousins Properties stock in a transaction on Monday, May 18th. The shares were bought at an average price of $25.41 per share, for a total transaction of $63,525.00. Company insiders own 0.67% of the company’s stock.
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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