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

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 paid 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 of this dividend is Monday, November 18th.

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

Cohen & Steers Price Performance

CNS opened at $100.47 on Friday. Cohen & Steers has a 12 month low of $56.04 and a 12 month 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. The business has a 50 day simple moving average of $97.30 and a 200-day simple moving average of $84.10.

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

Analyst Upgrades and Downgrades

CNS has been the subject of a number of research analyst reports. UBS Group raised shares of Cohen & Steers from a “sell” rating to a “neutral” rating and increased their target price for the company from $63.00 to $102.00 in a report on Thursday, October 17th. Evercore ISI raised their price objective on Cohen & Steers from $110.00 to $111.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

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.