NYSE:CUZ

Stock Analysis Report

Executive Summary

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT).

Snowflake

Fundamentals

Moderate growth potential second-rate dividend payer.


Similar Companies

Share Price & News

How has Cousins Properties's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.8%

CUZ

0.9%

US REITs

0.07%

US Market


1 Year Return

14.4%

CUZ

21.8%

US REITs

8.9%

US Market

Return vs Industry: CUZ underperformed the US REITs industry which returned 21.8% over the past year.

Return vs Market: CUZ exceeded the US Market which returned 8.9% over the past year.


Shareholder returns

CUZIndustryMarket
7 Day1.8%0.9%0.07%
30 Day2.1%2.2%-0.3%
90 Day7.0%7.9%-1.6%
1 Year18.1%14.4%27.0%21.8%11.3%8.9%
3 Year33.9%22.7%37.5%20.2%46.3%36.8%
5 Year20.9%-26.6%65.5%30.4%62.1%44.3%

Price Volatility Vs. Market

How volatile is Cousins Properties's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Cousins Properties undervalued compared to its fair value and its price relative to the market?

22.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CUZ ($37.75) is trading below our estimate of fair value ($48.94)

Significantly Below Fair Value: CUZ is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CUZ is poor value based on its PE Ratio (73.8x) compared to the REITs industry average (37.3x).

PE vs Market: CUZ is poor value based on its PE Ratio (73.8x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: CUZ is poor value based on its PEG Ratio (3.7x)


Price to Book Ratio

PB vs Industry: CUZ is good value based on its PB Ratio (1.3x) compared to the US REITs industry average (2.1x).


Next Steps

Future Growth

How is Cousins Properties forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

20.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CUZ's forecast earnings growth (20% per year) is above the savings rate (2.7%).

Earnings vs Market: CUZ's earnings (20% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CUZ's revenue (7.2% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: CUZ's revenue (7.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CUZ's Return on Equity is forecast to be low in 3 years time (1%).


Next Steps

Past Performance

How has Cousins Properties performed over the past 5 years?

22.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CUZ's earnings have grown significantly by 22.2% per year over the past 5 years.

Accelerating Growth: CUZ's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CUZ had negative earnings growth (-32.2%) over the past year, making it difficult to compare to the REITs industry average (16.9%).


Return on Equity

High ROE: CUZ's Return on Equity (1.3%) is considered low.


Return on Assets

ROA vs Industry: CUZ's Return on Assets is below or equal to the REITs industry average last year.


Return on Capital Employed

ROCE Improving: CUZ has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Cousins Properties's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CUZ has a high level of physical assets or inventory.

Debt Coverage by Assets: CUZ's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: CUZ's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if CUZ has a sufficient allowance for bad loans.

Low Risk Liabilities: CUZ reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if CUZ has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CUZ has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if CUZ has an appropriate level of bad loans.


Next Steps

Dividend

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

3.07%

Current Dividend Yield


Dividend Yield vs Market

company3.1%marketbottom25%1.4%markettop25%3.7%industryaverage3.6%forecastin3Years3.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CUZ's dividend (3.07%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: CUZ's dividend (3.07%) is low compared to the top 25% of dividend payers in the US market (3.68%).

Stable Dividend: CUZ's dividend payments have been volatile in the past 10 years.

Growing Dividend: CUZ's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (44.1%), CUZ's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CUZ's dividends in 3 years are forecast to be thoroughly covered by earnings (0.3% payout ratio).


Next Steps

Management

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

8.9yrs

Average management tenure


CEO

Michael Connolly (42yo)

0.8yrs

Tenure

US$1,781,014

Compensation

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 ...


CEO Compensation Analysis

Compensation vs. Market: Michael has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the US market.

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.


Management Age and Tenure

8.9yrs

Average Tenure

55yo

Average Age

Experienced Management: CUZ's management team is seasoned and experienced (8.9 years average tenure).


Board Age and Tenure

2.6yrs

Average Tenure

61.5yo

Average Age

Experienced Board: CUZ's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • John McColl (56yo)

    Executive Vice President of Development

    • Tenure: 22.4yrs
    • Compensation: US$1.05m
  • Jay Harris (59yo)

    Senior VP

    • Tenure: 14.7yrs
  • Larry Gellerstedt (63yo)

    Executive Chairman

    • Tenure: 2.3yrs
    • Compensation: US$4.12m
  • Gregg Adzema (54yo)

    Executive VP & CFO

    • Tenure: 8.9yrs
    • Compensation: US$1.75m
  • James Ellis (58yo)

    Senior VP & MD of Atlanta

    • Tenure: 13.2yrs
    • Compensation: US$660.96k
  • Richard Hickson (45yo)

    Executive Vice President of Operations

    • Tenure: 1yrs
  • Pam Roper (45yo)

    Executive VP

    • Tenure: 16.2yrs
    • Compensation: US$1.23m
  • Michael Connolly (42yo)

    President

    • Tenure: 0.8yrs
    • Compensation: US$1.78m
  • Roni Imbeaux

    Vice President of Finance & Investor Relations

    • Tenure: 0yrs
  • Kennedy Hicks

    Senior Vice President of Investments

    • Tenure: 0.9yrs

Board Members

  • Tom Cousins (87yo)

    Chairman Emeritus

    • Tenure: 12.8yrs
    • Compensation: US$106.58k
  • Charles Cannada (60yo)

    Independent Director

    • Tenure: 3yrs
    • Compensation: US$156.61k
  • Larry Gellerstedt (63yo)

    Executive Chairman

    • Tenure: 2.3yrs
    • Compensation: US$4.12m
  • Lillian Giornelli (58yo)

    Independent Director

    • Tenure: 20.8yrs
    • Compensation: US$155.03k
  • Richard Stone (65yo)

    Independent Director

    • Tenure: 1.5yrs
    • Compensation: US$156.61k
  • S. Glover (67yo)

    Lead Independent Director

    • Tenure: 2.3yrs
    • Compensation: US$209.24k
  • Bob Chapman (65yo)

    Independent Director

    • Tenure: 4.4yrs
    • Compensation: US$169.24k
  • Scott Fordham (52yo)

    Director

    • Tenure: 0.3yrs
  • Donna Hyland (59yo)

    Independent Director

    • Tenure: 5.4yrs
    • Compensation: US$173.23k
  • Michael Connolly (42yo)

    President

    • Tenure: 0.8yrs
    • Compensation: US$1.78m

Company Information

Cousins Properties Incorporated's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Cousins Properties Incorporated
  • Ticker: CUZ
  • Exchange: NYSE
  • Founded: 1958
  • Industry: Office REITs
  • Sector: Real Estate
  • Market Cap: US$5.540b
  • Shares outstanding: 146.76m
  • Website: https://www.cousins.com

Number of Employees


Location

  • Cousins Properties Incorporated
  • 3344 Peachtree Road NE
  • Suite 1800
  • Atlanta
  • Georgia
  • 30326
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CUZNYSE (New York Stock Exchange)YesCommon StockUSUSDDec 1972
CPZ1DB (Deutsche Boerse AG)YesCommon StockDEEURDec 1972

Biography

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 Pro ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 23:34
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.