Cousins Properties Inc Up 0.9% To $17.99 After Earnings Meet

Cousins Properties Inc (CUZ) said after close Thursday that it earned $0.65 per share in quarter three 2023.

On the revenue line, the company reported $198.8 million, missing estimates by $2.2 million.

In the same quarter a year ago, the company earned $0.69 per share on revenue of $195.2 million.

The stock is up 0.9% to $17.99 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Cousins Properties Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 33. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Cousins Properties Inc is a real estate investment trust principally involved in the ownership, management, and development of properties in the Southern United States. Cousins Properties' real estate portfolio primarily comprises offices and mixed-use developments that encompass both apartment and retail space. Offices make up the vast majority of the portfolio in terms of total square footage. Cousins' assets are mainly located in Texas and Georgia, with North Carolina also playing host to a smaller amount of rental space. The company derives nearly all of its revenue in the form of rental income from its properties, most of which comes from its office locations. A diverse set of tenants in the cities of Houston and Atlanta represent the company's major markets.