Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
Cousins Properties's Sloan Ratio for the quarter that ended in Dec. 2023 was 0.14%.
As of Dec. 2023, Cousins Properties has a Sloan Ratio of 0.14%, indicating the company is in the safe zone and there is no funny business with accruals.
Cousins Properties Sloan Ratio % Historical Data
The historical data trend for Cousins Properties's Sloan Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Office subindustry, Cousins Properties's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cousins Properties Sloan Ratio % Distribution
For the REITs industry and Real Estate sector, Cousins Properties's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Cousins Properties's Sloan Ratio % falls into.
Cousins Properties Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Cousins Properties's Sloan Ratio for the fiscal year that ended in Dec. 2023 is calculated as
Cousins Properties's Net Income for the trailing twelve months (TTM) ended in Dec. 2023 was 22.196 (Mar. 2023 ) + 22.621 (Jun. 2023 ) + 19.361 (Sep. 2023 ) + 18.785 (Dec. 2023 ) = $83.0 Mil.
Cousins Properties's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2023 was 26.494 (Mar. 2023 ) + 134.577 (Jun. 2023 ) + 116.447 (Sep. 2023 ) + 90.844 (Dec. 2023 ) = $368.4 Mil.
Cousins Properties's Cash Flow from Investing for the trailing twelve months (TTM) ended in Dec. 2023 was -93.847 (Mar. 2023 ) + -55.824 (Jun. 2023 ) + -62.423 (Sep. 2023 ) + -83.641 (Dec. 2023 ) = $-295.7 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Cousins Properties (NYSE:CUZ) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Dec. 2023, Cousins Properties has a Sloan Ratio of 0.14%, indicating the company is in the safe zone and there is no funny business with accruals.
Cousins Properties Sloan Ratio % Related Terms
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Cousins Properties (Cousins Properties) Business Description
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.
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