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

Cohen & Steers, Inc. (NYSE:CNS) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Monday, November 18th.

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

Cohen & Steers Trading Up 1.6 %

Shares of NYSE CNS opened at $103.88 on Friday. The company has a 50-day moving average of $95.92 and a 200 day moving average of $82.91. Cohen & Steers has a 12-month low of $51.61 and a 12-month high of $110.67. The stock has a market cap of $5.25 billion, a PE ratio of 38.76 and a beta of 1.53.

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

Analysts Set New Price Targets

CNS has been the subject of several analyst reports. UBS Group raised shares of Cohen & Steers from a “sell” rating to a “neutral” rating and increased their price target for the company from $63.00 to $102.00 in a research note on Thursday, October 17th. Evercore ISI increased their price objective on Cohen & Steers from $110.00 to $111.00 and gave the stock an “outperform” rating in a research report on Thursday.

Cohen & Steers Company Profile

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.