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Cousins Properties

NYSE:CUZ
Snowflake Description

Mediocre balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CUZ
NYSE
$4B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The last earnings update was 40 days ago. More info.


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CUZ Share Price and Events
7 Day Returns
1.8%
NYSE:CUZ
1.3%
US REITs
2.4%
US Market
1 Year Returns
14%
NYSE:CUZ
12.4%
US REITs
1.9%
US Market
CUZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cousins Properties (CUZ) 1.8% 4.6% 21.1% 14% -0.4% -12.5%
US REITs 1.3% 0.6% 9.6% 12.4% 10.5% 28.9%
US Market 2.4% 1.7% 11.9% 1.9% 38.2% 42.4%
1 Year Return vs Industry and Market
  • CUZ outperformed the REITs industry which returned 12.4% over the past year.
  • CUZ outperformed the Market in United States of America which returned 1.9% over the past year.
Price Volatility
CUZ
Industry
5yr Volatility vs Market

CUZ Value

 Is Cousins Properties undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Cousins Properties to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Cousins Properties.

NYSE:CUZ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CUZ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.55
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.545 (1 + (1- 21%) (25.47%))
0.769
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NYSE:CUZ using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Cousins Properties is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Cousins Properties is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:CUZ DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.5%)
2019 237.79 Analyst x4 221.21
2020 233.72 Analyst x4 202.25
2021 251.06 Analyst x2 202.10
2022 240.83 Analyst x1 180.34
2023 248.58 Analyst x1 173.16
2024 253.07 Est @ 1.81% 164.00
2025 258.34 Est @ 2.08% 155.74
2026 264.23 Est @ 2.28% 148.17
2027 270.60 Est @ 2.41% 141.17
2028 277.39 Est @ 2.51% 134.61
Present value of next 10 years cash flows $1,722.76
NYSE:CUZ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $277.39 × (1 + 2.73%) ÷ (7.5% – 2.73%)
$5,976.58
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $5,976.58 ÷ (1 + 7.5%)10
$2,900.34
NYSE:CUZ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,722.76 + $2,900.34
$4,623.10
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $4,623.10 / 420.59
$10.99
NYSE:CUZ Discount to Share Price
Calculation Result
Value per share (USD) From above. $10.99
Current discount Discount to share price of $9.92
= -1 x ($9.92 - $10.99) / $10.99
9.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Cousins Properties is available for.
Intrinsic value
10%
Share price is $9.92 vs Future cash flow value of $10.99
Current Discount Checks
For Cousins Properties to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cousins Properties's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Cousins Properties's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cousins Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cousins Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CUZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.19
NYSE:CUZ Share Price ** NYSE (2019-03-18) in USD $9.92
United States of America REITs Industry PE Ratio Median Figure of 154 Publicly-Listed REITs Companies 30.43x
United States of America Market PE Ratio Median Figure of 3,055 Publicly-Listed Companies 17.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cousins Properties.

NYSE:CUZ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CUZ Share Price ÷ EPS (both in USD)

= 9.92 ÷ 0.19

52.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cousins Properties is overvalued based on earnings compared to the US REITs industry average.
  • Cousins Properties is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Cousins Properties's expected growth come at a high price?
Raw Data
NYSE:CUZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 52.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
1.4%per year
United States of America REITs Industry PEG Ratio Median Figure of 139 Publicly-Listed REITs Companies -0.21x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

NYSE:CUZ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 52.67x ÷ 1.4%

37.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cousins Properties is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Cousins Properties's assets?
Raw Data
NYSE:CUZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $6.56
NYSE:CUZ Share Price * NYSE (2019-03-18) in USD $9.92
United States of America REITs Industry PB Ratio Median Figure of 192 Publicly-Listed REITs Companies 1.8x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
NYSE:CUZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CUZ Share Price ÷ Book Value per Share (both in USD)

= 9.92 ÷ 6.56

1.51x

* Primary Listing of Cousins Properties.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cousins Properties is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Cousins Properties's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Cousins Properties has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CUZ Future Performance

 How is Cousins Properties expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cousins Properties expected to grow at an attractive rate?
  • Cousins Properties's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Cousins Properties's earnings growth is positive but not above the United States of America market average.
  • Cousins Properties's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CUZ Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CUZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 1.4%
NYSE:CUZ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 4.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 0.6%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CUZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CUZ Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 620 93 1
2022-12-31 586 87 1
2021-12-31 568 89 2
2020-12-31 530 94 4
2019-12-31 511 97 5
NYSE:CUZ Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 487 229 79
2018-09-30 477 228 88
2018-06-30 472 224 81
2018-03-31 474 207 228
2017-12-31 478 212 216
2017-09-30 481 160 227
2017-06-30 415 150 218
2017-03-31 344 137 50
2016-12-31 270 118 60
2016-09-30 59 168 43
2016-06-30 111 167 93
2016-03-31 161 155 101

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cousins Properties's earnings are expected to grow by 1.4% yearly, however this is not considered high growth (20% yearly).
  • Cousins Properties's revenue is expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CUZ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Cousins Properties Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CUZ Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.18 0.18 0.18 1.00
2020-12-31 0.17 0.17 0.17 1.00
2019-12-31 0.22 0.28 0.15 2.00
NYSE:CUZ Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.19
2018-09-30 0.21
2018-06-30 0.19
2018-03-31 0.54
2017-12-31 0.52
2017-09-30 0.56
2017-06-30 0.62
2017-03-31 0.17
2016-12-31 0.24
2016-09-30 0.20
2016-06-30 0.44
2016-03-31 0.47

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Cousins Properties is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Cousins Properties's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cousins Properties has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CUZ Past Performance

  How has Cousins Properties performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cousins Properties's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cousins Properties has delivered over 20% year on year earnings growth in the past 5 years.
  • Cousins Properties's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Cousins Properties's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Cousins Properties's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cousins Properties Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CUZ Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 487.47 79.16 22.04
2018-09-30 477.09 88.17 24.32
2018-06-30 471.75 80.75 27.58
2018-03-31 474.29 227.57 28.15
2017-12-31 478.25 216.28 27.52
2017-09-30 480.81 227.00 30.28
2017-06-30 415.39 217.85 27.49
2017-03-31 344.00 50.00 23.53
2016-12-31 269.77 59.95 25.59
2016-09-30 59.32 42.74 21.81
2016-06-30 110.98 93.43 20.32
2016-03-31 160.56 101.15 21.57
2015-12-31 210.39 94.22 16.92
2015-09-30 401.17 92.58 15.99
2015-06-30 388.41 44.94 18.14
2015-03-31 373.25 34.19 17.95
2014-12-31 177.56 5.40 19.78
2014-09-30 334.85 -0.27 21.07
2014-06-30 296.19 43.53 22.68
2014-03-31 254.20 39.98 21.48
2013-12-31 210.74 94.31 22.46
2013-09-30 162.91 112.59 21.80
2013-06-30 151.76 60.09 21.56
2013-03-31 141.73 68.63 22.66
2012-12-31 136.85 12.51 23.21
2012-09-30 138.11 -134.31 25.01
2012-06-30 130.37 -136.84 22.90
2012-03-31 119.20 -146.65 23.39

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Cousins Properties has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cousins Properties used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Cousins Properties has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Cousins Properties's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cousins Properties has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CUZ Health

 How is Cousins Properties's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cousins Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cousins Properties's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Cousins Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cousins Properties's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cousins Properties Company Filings, last reported 2 months ago.

NYSE:CUZ Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,821.16 1,062.57 2.55
2018-09-30 2,824.46 1,065.01 82.71
2018-06-30 2,832.34 1,089.26 110.23
2018-03-31 2,835.92 1,091.26 108.15
2017-12-31 2,825.11 1,093.23 148.93
2017-09-30 2,817.32 1,095.18 62.17
2017-06-30 2,829.68 1,019.62 16.42
2017-03-31 2,682.52 1,113.77 35.76
2016-12-31 2,514.24 1,380.92 35.69
2016-09-30 1,665.44 789.38 97.24
2016-06-30 1,669.13 777.49 0.95
2016-03-31 1,676.28 767.81 5.46
2015-12-31 1,683.42 718.81 2.00
2015-09-30 1,672.59 779.57 5.33
2015-06-30 1,654.70 849.77 1.97
2015-03-31 1,662.94 847.95 4.39
2014-12-31 1,673.46 792.34
2014-09-30 1,667.60 671.07 7.21
2014-06-30 1,440.88 665.85 6.26
2014-03-31 1,548.16 587.44 29.08
2013-12-31 1,458.97 630.09 0.98
2013-09-30 1,465.23 642.83 5.41
2013-06-30 773.61 340.37 4.93
2013-03-31 690.64 344.83 6.04
2012-12-31 642.95 425.41 176.89
2012-09-30 627.90 518.63 5.47
2012-06-30 622.90 461.02 3.01
2012-03-31 620.35 529.17 4.00
  • Cousins Properties's level of debt (37.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (43.1% vs 37.7% today).
  • Debt is well covered by operating cash flow (21.6%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Cousins Properties's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cousins Properties has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CUZ Dividends

 What is Cousins Properties's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.62%
Current annual income from Cousins Properties dividends. Estimated to be 3.18% next year.
If you bought $2,000 of Cousins Properties shares you are expected to receive $52 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Cousins Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Cousins Properties's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CUZ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 186 Stocks 4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CUZ Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.36 1.00
2022-12-31 0.34 1.00
2021-12-31 0.36 2.00
2020-12-31 0.31 5.00
2019-12-31 0.29 6.00
NYSE:CUZ Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-12-18 0.260 2.951
2018-09-20 0.260 3.073
2018-06-19 0.260 2.770
2018-03-19 0.260 2.907
2017-12-19 0.240 2.725
2017-09-19 0.240 2.595
2017-06-19 0.240 2.649
2017-03-20 0.240 2.830
2017-01-03 0.240 2.848
2016-07-27 0.320 3.561
2016-04-14 0.320 3.021
2016-01-15 0.320 3.503
2015-11-12 0.320 3.413
2015-07-16 0.320 3.303
2015-04-17 0.320 3.131
2015-01-15 0.320 2.979
2014-11-13 0.300 2.582
2014-07-17 0.300 2.388
2014-04-16 0.300 2.492
2014-01-16 0.300 2.691
2013-11-14 0.180 1.720
2013-07-18 0.180 1.716
2013-04-16 0.180 1.729
2013-01-18 0.180 1.844
2012-11-20 0.180 2.160
2012-07-19 0.180 2.251
2012-04-16 0.180 2.396
2012-01-19 0.180 2.425
2011-11-15 0.180 2.906
2011-07-19 0.180 2.717
2011-01-19 0.180 2.136
2010-10-15 0.360 4.611
2010-07-15 0.360 5.251
2010-04-15 0.360 4.841
2010-03-11 0.360 4.357
2009-10-15 0.360 4.808
2009-07-16 0.600 7.211
2009-04-14 1.000 11.597
2009-03-19 1.000 14.081

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Cousins Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (900.9x coverage).
X
Income/ dividend checks
We assess Cousins Properties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cousins Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cousins Properties has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CUZ Management

 What is the CEO of Cousins Properties's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael Connolly
COMPENSATION $1,781,014
AGE 41
TENURE AS CEO 0.2 years
CEO Bio

Mr. Michael Colin Connolly has been the Chief Executive Officer at Cousins Properties Incorporated since January 1, 2019 as serves as its President since July 28, 2017. He is Director of Cousins Properties Incorporated since February 05, 2019. He served as a Chief Operating Officer at Cousins Properties Incorporated since July 14, 2016 until January 1, 2019. Mr. Connolly served as an Executive Vice President at Cousins Properties Incorporated from December 2015 to July 28, 2017. Mr. Connolly served as Chief Investment Officer from December 2015 to July 2016. Mr. Connolly is responsible for the Company's new investments, dispositions and asset management. He joined Cousins Properties Incorporated in September 2011 as Senior Vice President from May 2013 to December 10, 2015, focused on acquisitions and dispositions. Mr. Connolly served as Chief Investment Officer from May 2013 to July 14, 2016. Prior to joining the firm, he served as Executive Director with Morgan Stanley from December 2009 to August 2011 and as Vice President with Morgan Stanley from December 2006 to December 2009. Prior to joining Morgan Stanley, Mr. Connolly worked in the Investments Group at CarrAmerica Realty Corporation where he worked on the acquisition and disposition of office properties in Washington, D.C., San Francisco, Los Angeles, Atlanta, Dallas and Austin. Over the course of his real estate career, he has completed over $6 billion of real estate transactions. Mr. Connolly received an M.B.A from The University of Virginia's Darden School of Business and a B.S. in Business Administration and Accounting from Washington & Lee University.

CEO Compensation
  • Michael's compensation has been consistent with company performance over the past year.
  • Michael's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Cousins Properties management team in years:

8.3
Average Tenure
54
Average Age
  • The average tenure for the Cousins Properties management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Larry Gellerstedt

TITLE
Executive Chairman
COMPENSATION
$4M
AGE
62
TENURE
0.2 yrs

Michael Connolly

TITLE
President
COMPENSATION
$2M
AGE
41
TENURE
0.2 yrs

Gregg Adzema

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
53
TENURE
8.3 yrs

Pam Roper

TITLE
Executive VP
COMPENSATION
$1M
AGE
44
TENURE
15.6 yrs

John McColl

TITLE
Executive Vice President of Development
COMPENSATION
$1M
AGE
55
TENURE
21.8 yrs

Richard Hickson

TITLE
Executive Vice President of Operations
AGE
44
TENURE
0.4 yrs

Kennedy Hicks

TITLE
Senior Vice President of Investments
TENURE
0.3 yrs

John Harris

TITLE
Senior VP
AGE
58
TENURE
14.1 yrs

Roni Imbeaux

TITLE
Vice President of Finance & Investor Relations

James Ellis

TITLE
Senior VP & MD of Atlanta
COMPENSATION
$694K
AGE
57
TENURE
12.6 yrs
Board of Directors Tenure

Average tenure and age of the Cousins Properties board of directors in years:

2.4
Average Tenure
61
Average Age
  • The average tenure for the Cousins Properties board of directors is less than 3 years, this suggests a new board.
Board of Directors

Michael Connolly

TITLE
President
COMPENSATION
$2M
AGE
41
TENURE
0.1 yrs

Tom Cousins

TITLE
Chairman Emeritus
COMPENSATION
$107K
AGE
86
TENURE
12.3 yrs

Larry Gellerstedt

TITLE
Executive Chairman
COMPENSATION
$4M
AGE
62
TENURE
1.7 yrs

Donna Hyland

TITLE
Independent Director
COMPENSATION
$173K
AGE
58
TENURE
4.8 yrs

Bob Chapman

TITLE
Independent Director
COMPENSATION
$169K
AGE
64
TENURE
3.8 yrs

S. Glover

TITLE
Lead Independent Director
COMPENSATION
$209K
AGE
66
TENURE
1.7 yrs

Lillian Giornelli

TITLE
Independent Director
COMPENSATION
$155K
AGE
57
TENURE
20.2 yrs

Richard Stone

TITLE
Independent Director
COMPENSATION
$157K
AGE
64
TENURE
0.9 yrs

Charles Cannada

TITLE
Independent Director
COMPENSATION
$157K
AGE
59
TENURE
2.4 yrs

Ed Casal

TITLE
Independent Director
COMPENSATION
$155K
AGE
60
TENURE
2.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
02. Aug 18 Sell Lawrence Gellerstedt Individual 31. Jul 18 31. Jul 18 -1,660 $9.26 $-15,375
02. Aug 18 Sell John McColl Individual 31. Jul 18 31. Jul 18 -14,333 $9.26 $-132,733
19. Apr 18 Buy Edward Casal Individual 20. Jan 17 16. Apr 18 156 $9.37 $1,363
X
Management checks
We assess Cousins Properties's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cousins Properties has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CUZ News

Simply Wall St News

Why Cousins Properties Incorporated (NYSE:CUZ) Could Be Worth Watching

Cousins Properties Incorporated (NYSE:CUZ), which is in the reits business, and is based in United States,. … received a lot of attention from a substantial price increase on the NYSE over the last few months. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price?

Simply Wall St -

Will Cousins Properties Incorporated's (NYSE:CUZ) Earnings Grow In The Years Ahead?

Cousins Properties Incorporated's (NYSE:CUZ) released its most recent earnings update in December 2018, whicha

Simply Wall St -

Based On Its ROE, Is Cousins Properties Incorporated (NYSE:CUZ) A High Quality Stock?

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every $1 worth of shareholders' equity, it generated $0.029 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

How Many Insiders Sold Cousins Properties Incorporated (NYSE:CUZ) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Cousins Properties Incorporated (NYSE:CUZ). … Cousins Properties Insider Transactions Over The Last Year. … In the last twelve months, the biggest single sale by an insider was when Executive Vice President of Development John McColl sold US$133k worth of shares at a price of US$9.26 per share

Simply Wall St -

How To Look At Cousins Properties Incorporated (NYSE:CUZ)

real estate investment trust (REIT) based in Atlanta, United States. … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent … FFO is a cleaner and more representative figure of how much CUZ actually makes from its day-to-day operations, compared to net income, which can be affected by one-off activities or non-cash items such as depreciation

Simply Wall St -

At US$8.31, Is Cousins Properties Incorporated (NYSE:CUZ) Worth Looking At Closely?

This high level of volatility gives investors the opportunity to enter into the stock, and potentially buy at an artificially low price? … A question to answer is whether Cousins Properties's current trading price of $8.31 reflective of the actual value of the? … Let’s take a look at Cousins Properties’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

With A 2.9% Return On Equity, Is Cousins Properties Incorporated (NYSE:CUZ) A Quality Stock?

Cousins Properties has a ROE of 2.9%, based on the last twelve months. … That means that for every $1 worth of shareholders' equity, it generated $0.029 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Invest In Cousins Properties Incorporated (NYSE:CUZ)?

real estate investment trust (REIT) based in Atlanta, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.

Simply Wall St -

Should You Buy Cousins Properties Incorporated (NYSE:CUZ) At US$9.33?

Cousins Properties Incorporated (NYSE:CUZ), a reits company based in United States,. … saw a decent share price growth in the teens level on the NYSE over the last few months. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price?

Simply Wall St -

Is Buying Cousins Properties Incorporated (NYSE:CUZ) For Its Upcoming US$0.065 Dividend A Good Choice?

Important news for shareholders and potential investors in Cousins Properties Incorporated (NYSE:CUZ): The dividend payment of US$0.065 per share will be distributed into shareholder on 16 July 2018, and the stock will begin trading ex-dividend at an earlier date, 02 July 2018. … Well, keep on reading because today, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Simply Wall St -

CUZ Company Info

Description

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. The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments.

Details
Name: Cousins Properties Incorporated
CUZ
Exchange: NYSE
Founded: 1958
$4,172,220,897
420,586,784
Website: http://www.cousins.com
Address: Cousins Properties Incorporated
3344 Peachtree Road NE,
Suite 1800,
Atlanta,
Georgia, 30326,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CUZ Common Stock New York Stock Exchange US USD 14. Dec 1972
DB CPZ Common Stock Deutsche Boerse AG DE EUR 14. Dec 1972
Number of employees
Current staff
Staff numbers
257
Cousins Properties employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 23:34
End of day share price update: 2019/03/18 00:00
Last estimates confirmation: 2019/03/14
Last earnings filing: 2019/02/06
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.