Cousins Properties (NYSE:CUZ) Issues Earnings Results, Misses Estimates By $0.01 EPS
Cousins Properties (NYSE:CUZ) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.01), Briefing.com reports. Cousins Properties had a net margin of 10.61% and a return on equity of 1.71%. The company had revenue of $134.93 million for the quarter, compared to the consensus estimate of $150.56 million. During the same period last year, the business earned $0.15 EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. Cousins Properties updated its FY 2019 guidance to $2.81-2.93 EPS and its FY19 guidance to $2.81-2.93 EPS.
Shares of Cousins Properties stock traded up $0.16 on Friday, reaching $35.43. The company’s stock had a trading volume of 3,032,311 shares, compared to its average volume of 2,503,991. The company has a market cap of $3.71 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 3.03 and a beta of 0.90. The company’s fifty day moving average price is $31.62. Cousins Properties has a 52 week low of $30.12 and a 52 week high of $40.40. The company has a quick ratio of 1.15, a current ratio of 0.72 and a debt-to-equity ratio of 0.42.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Wednesday, July 3rd were issued a $0.29 dividend. This is a positive change from Cousins Properties’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.27%. Cousins Properties’s dividend payout ratio (DPR) is presently 46.03%.
A number of research analysts recently weighed in on CUZ shares. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th.
About Cousins Properties
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.
Recommended Story: What are the benefits of momentum investing?
Receive News & Ratings for Cousins Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cousins Properties and related companies with MarketBeat.com's FREE daily email newsletter.