Cohen & Steers Inc Announces Quarterly Dividend of $0.67 (NYSE:CNS)

Cohen & Steers Inc (NYSE:CNS) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, August 10th will be given a dividend of 0.67 per share by the asset manager on Thursday, August 20th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 10th.

Cohen & Steers has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 16 years. Cohen & Steers has a payout ratio of 81.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Cohen & Steers to earn $3.86 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 69.4%.

Cohen & Steers Price Performance

Cohen & Steers stock opened at $81.52 on Friday. Cohen & Steers has a one year low of $58.39 and a one year high of $84.93. The business’s fifty day moving average is $76.60 and its 200 day moving average is $69.95. The stock has a market capitalization of $4.19 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.01 and a beta of 1.22.

Cohen & Steers (NYSE:CNS) last issued its earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $151.84 million during the quarter, compared to analysts’ expectations of $149.45 million. Cohen & Steers had a return on equity of 28.03% and a net margin of 28.82%.Cohen & Steers’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $0.73 EPS. As a group, sell-side analysts expect that Cohen & Steers will post 3.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Evercore reissued an “outperform” rating and set a $84.00 price objective on shares of Cohen & Steers in a report on Friday, July 10th. Weiss Ratings raised shares of Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.00.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).