Cohen & Steers, Inc. (NYSE:CNS) announced a quarterly dividend on Wednesday, November 7th, NASDAQ reports. Investors of record on Monday, November 19th will be paid a dividend of 0.33 per share by the asset manager on Monday, December 3rd. This represents a $1.32 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, November 16th.
Cohen & Steers has increased its dividend by an average of 8.4% annually over the last three years and has increased its dividend every year for the last 6 years. Cohen & Steers has a dividend payout ratio of 53.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cohen & Steers to earn $2.52 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 52.4%.
Shares of NYSE:CNS opened at $38.56 on Friday. The company has a market capitalization of $1.86 billion, a P/E ratio of 18.63, a PEG ratio of 1.76 and a beta of 1.09. Cohen & Steers has a 52 week low of $35.50 and a 52 week high of $47.83.
Cohen & Steers (NYSE:CNS) last issued its quarterly earnings results on Wednesday, October 17th. The asset manager reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The business had revenue of $98.30 million during the quarter, compared to the consensus estimate of $99.05 million. Cohen & Steers had a net margin of 28.13% and a return on equity of 39.38%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, research analysts forecast that Cohen & Steers will post 2.45 earnings per share for the current year.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Cohen & Steers from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Tuesday, September 18th. ValuEngine upgraded shares of Cohen & Steers from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, Credit Suisse Group dropped their price objective on shares of Cohen & Steers from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.50.
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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.
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