Cousins Properties (NYSE:CUZ) to Repurchase $250.00 million in Outstanding Stock

Cousins Properties (NYSE:CUZ) announced that its board has initiated a stock repurchase program on Tuesday, February 17th, RTT News reports. The company plans to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

CUZ has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Cousins Properties from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, November 25th. Wells Fargo & Company reduced their target price on Cousins Properties from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Wall Street Zen cut Cousins Properties from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Cantor Fitzgerald set a $28.00 price objective on shares of Cousins Properties in a research report on Monday, December 1st. Finally, Mizuho set a $29.00 price objective on shares of Cousins Properties and gave the company an “outperform” rating in a research note on Friday, December 12th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Cousins Properties Stock Performance

NYSE:CUZ opened at $24.19 on Friday. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 100.77, a PEG ratio of 1.89 and a beta of 1.21. The business has a 50 day moving average of $25.41 and a 200 day moving average of $26.54. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.93. Cousins Properties has a 1-year low of $21.03 and a 1-year high of $30.81.

Cousins Properties (NYSE:CUZ) last posted its quarterly earnings results on Thursday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, hitting the consensus estimate of $0.71. Cousins Properties had a net margin of 4.08% and a return on equity of 0.85%. The firm had revenue of $255.03 million for the quarter, compared to the consensus estimate of $252.18 million. During the same period last year, the firm posted $0.69 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year. Cousins Properties has set its FY 2026 guidance at 2.870-2.970 EPS. On average, sell-side analysts predict that Cousins Properties will post 2.76 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Monday, January 5th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 5.3%. The ex-dividend date was Monday, January 5th. Cousins Properties’s dividend payout ratio is presently 533.33%.

About Cousins Properties

Cousins Properties Incorporated (NYSE: CUZ) is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.

Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.