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Cousins ​​​​Properties Incorporated Announces Quarterly Dividend of $0.32 (NYSE:CUZ)

Neven Properties Incorporated (NYSE:CUZ – Get Free Report) declared a quarterly dividend on Tuesday, June 18, NASDAQ reports. Shareholders of record on Wednesday, July 3 will receive a dividend of 0.32 per share from the real estate investment trust on Monday, July 15. This represents a dividend of $1.28 annually and a dividend yield of 5.49%. The ex-dividend date is Wednesday, July 3.

Cousins ​​Properties has cut its dividend by an average of 4.9% per year over the past three years. Cousins ​​Properties has a payout ratio of 266.7%, which indicates that the company cannot currently cover its dividend with profits alone and is relying on its balance sheet to cover its dividend payments. Stock analysts expect Cousins ​​Properties to earn $2.67 per share next year, meaning the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 47.9%.

Ancillary properties increase by 1.7%

NYSE CUZ traded at $0.40 in afternoon trading on Wednesday, reaching $23.30. The company’s stock had a trading volume of 986,849 shares, compared to its average volume of 906,903. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 47.53, a price-to-earnings growth ratio of 3.81, and a beta of 1.28. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.07 and a quick ratio of 1.07. Cousins ​​​​Properties has a 52-week low of $17.40 and a 52-week high of $25.19. The stock’s fifty day simple moving average is $23.03 and its two hundred day simple moving average is $23.25.

Cousins ​​Properties (NYSE:CUZ – Get Free Report) last posted its earnings results on Friday, April 26th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.54). The company had revenue of $209.20 million for the quarter, compared to analyst estimates of $199.35 million. Cousins ​​Properties had a net margin of 9.15% and a return on equity of 1.62%. The company’s revenue increased by 4.2% compared to the same quarter last year. During the same quarter of the previous year, the company posted earnings per share of $0.65. Research analysts expect that Cousins ​​Properties will post 2.64 earnings per share for the current year.

Insider transactions at Cousins ​​Properties

In other Cousins ​​Properties news, CFO Gregg D. Adzema sold 71,097 shares of Cousins ​​Properties in a transaction on Thursday, May 2. The stock sold at an average price of $23.31, for a total transaction of $1,657,271.07. Following the sale, the chief financial officer now owns 85,872 shares of the company’s stock, valued at approximately $2,001,676.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s shares.

Analysts set new price targets

CUZ has been the subject of several analyst reports. StockNews.com upgraded shares of Cousins ​​Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Barclays lowered their price objective on shares of Cousins ​​Properties from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cousins ​​Properties has a consensus rating of “Hold” and an average price target of $23.67.

Check out our latest research report on CUZ

Cousins ​​Properties Company Profile

(Get a free report)

Cousins ​​Properties Incorporated (“Cousins”) is a fully integrated, self-managed and self-managed real estate investment trust (REIT). The company, based in Atlanta and trading through its operating partnership, Cousins ​​Properties LP, invests primarily in Class A office buildings in the fast-growing Sun Belt markets.

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Dividend History for Ancillary Properties (NYSE:CUZ)

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