Cohen & Steers Inc (NYSE:CNS) Shareholders to Get $0.67 Quarterly Dividend

Cohen & Steers Inc (NYSE:CNS) declared a quarterly dividend on Thursday, October 29th. Investors of record on Monday, November 9th will be paid a dividend of $0.67 per share by the asset manager on Thursday, November 19th. This represents a $2.68 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, November 9th.

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 tumble. Equities research analysts expect Cohen & Steers to earn $3.73 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 71.8%.

Cohen & Steers Stock Up 4.1%

CNS opened at $72.93 on Friday. The business has a fifty day moving average of $74.44 and a 200 day moving average of $72.01. The stock has a market cap of $3.75 billion, a P/E ratio of 22.37, a PEG ratio of 2.98 and a beta of 1.22. Cohen & Steers has a 52-week low of $58.39 and a 52-week high of $86.56.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, October 15th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $156.41 million during the quarter, compared to analysts’ expectations of $155.12 million. Cohen & Steers had a net margin of 28.16% and a return on equity of 27.45%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.81 earnings per share. Equities analysts anticipate that Cohen & Steers will post 3.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CNS. Zacks Research lowered Cohen & Steers from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Evercore reissued an “outperform” rating and issued a $88.00 target price on shares of Cohen & Steers in a report on Monday, August 10th. Finally, Weiss Ratings upgraded Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $88.00.

About Cohen & Steers

Cohen & Steers, Inc is a global investment management company specializing in real assets and alternative income. The firm manages investment strategies focused on real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented assets.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios and private-market strategies. Cohen & Steers serves institutional investors, financial intermediaries and individual investors through a range of publicly traded and privately held investment vehicles.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and serves clients in North America, Europe and Asia.