Cohen & Steers, Inc. to Issue Quarterly Dividend of $0.59 (NYSE:CNS)

Cohen & Steers, Inc. (NYSE:CNS) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Stockholders of record on Monday, November 18th will be paid a dividend of 0.59 per share by the asset manager on Monday, December 2nd. This represents a $2.36 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, November 18th.

Cohen & Steers has increased its dividend by an average of 13.5% per year over the last three years and has raised its dividend every year for the last 15 years. Cohen & Steers has a payout ratio of 65.7% meaning its dividend is sufficiently covered by earnings.

Cohen & Steers Stock Performance

CNS stock traded up $1.84 during trading on Friday, reaching $104.04. 114,482 shares of the company were exchanged, compared to its average volume of 226,574. The company has a market cap of $5.26 billion, a P/E ratio of 38.20 and a beta of 1.53. The stock’s 50 day moving average price is $95.63 and its 200 day moving average price is $82.68. Cohen & Steers has a 52-week low of $51.61 and a 52-week high of $110.67.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Wednesday, October 16th. The asset manager reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $133.20 million during the quarter, compared to analyst estimates of $124.18 million. Cohen & Steers had a net margin of 27.23% and a return on equity of 34.43%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 earnings per share.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CNS. UBS Group raised shares of Cohen & Steers from a “sell” rating to a “neutral” rating and raised their price target for the company from $63.00 to $102.00 in a report on Thursday, October 17th. Evercore ISI raised their price target on shares of Cohen & Steers from $110.00 to $111.00 and gave the stock an “outperform” rating in a research report on Thursday.

About Cohen & Steers

Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.