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

Cohen & Steers, Inc. (NYSE:CNS) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders of record on Monday, November 18th will be given a dividend of 0.59 per share by the asset manager on Monday, December 2nd. This represents a $2.36 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, November 18th.

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

Cohen & Steers Stock Performance

CNS opened at $100.47 on Friday. The business’s 50-day simple moving average is $97.30 and its 200-day simple moving average is $84.10. Cohen & Steers has a one year low of $56.04 and a one year high of $110.67. The stock has a market capitalization of $5.08 billion, a P/E ratio of 37.49 and a beta of 1.53.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Wednesday, October 16th. The asset manager reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Cohen & Steers had a return on equity of 32.75% and a net margin of 27.23%. The business had revenue of $133.20 million for the quarter, compared to analysts’ expectations of $124.18 million. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CNS shares. Evercore ISI lifted their target price on Cohen & Steers from $110.00 to $111.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. UBS Group upgraded Cohen & Steers from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $63.00 to $102.00 in a research report on Thursday, October 17th.

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.