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

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

Cohen & Steers has increased its dividend by an average of 13.5% per year over the last three years and has increased its dividend every year for the last 15 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 %

NYSE:CNS traded up $1.68 during trading hours on Friday, hitting $103.88. 197,619 shares of the company were exchanged, compared to its average volume of 280,709. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 38.76 and a beta of 1.53. Cohen & Steers has a one year low of $51.61 and a one year high of $110.67. The company has a fifty day simple moving average of $95.92 and a 200 day simple moving average of $82.99.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group upgraded shares of Cohen & Steers from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $63.00 to $102.00 in a research report on Thursday, October 17th. Evercore ISI boosted their target price on shares of Cohen & Steers from $110.00 to $111.00 and gave the company an "outperform" rating in a report on Thursday.

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.