Cohen & Steers Inc (NYSE:CNS) Announces Quarterly Dividend of $0.62

Key Points

• Cohen & Steers Inc announced a quarterly dividend of $0.62 per share with a dividend yield of 3.4%, payable on August 21st to stockholders on record as of August 11th.
• The company's recent earnings report indicated earnings per share of $0.73, missing analyst expectations, while revenue rose by 11.8% year-over-year.
• Shares of Cohen & Steers traded at $73.56, reflecting a market cap of $3.75 billion and a P/E ratio of 23.35.

Cohen & Steers Inc (NYSE:CNS - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Shareholders of record on Monday, August 11th will be given a dividend of 0.62 per share by the asset manager on Thursday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, August 11th.

Cohen & Steers has a payout ratio of 74.9% indicating that its dividend is sufficiently covered by earnings.

Cohen & Steers Trading Up 1.3%

Shares of NYSE CNS traded up $0.97 during midday trading on Monday, reaching $73.18. The company had a trading volume of 10,366 shares, compared to its average volume of 209,555. The business's 50-day simple moving average is $75.91 and its 200 day simple moving average is $79.41. The stock has a market cap of $3.73 billion, a P/E ratio of 23.24, a P/E/G ratio of 2.33 and a beta of 1.38. Cohen & Steers has a 1 year low of $68.99 and a 1 year high of $110.67.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). The company had revenue of $135.32 million during the quarter, compared to analysts' expectations of $134.59 million. Cohen & Steers had a return on equity of 30.36% and a net margin of 29.82%. The company's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS.

Institutional Trading of Cohen & Steers

A number of hedge funds and other institutional investors have recently made changes to their positions in CNS. Raymond James Financial Inc. acquired a new stake in shares of Cohen & Steers in the fourth quarter worth $44,737,000. Norges Bank acquired a new stake in Cohen & Steers during the fourth quarter valued at $34,166,000. Congress Asset Management Co. grew its position in Cohen & Steers by 24.3% during the first quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager's stock valued at $52,676,000 after buying an additional 128,315 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Cohen & Steers during the first quarter valued at $7,222,000. Finally, GAMMA Investing LLC grew its position in Cohen & Steers by 10,820.2% during the first quarter. GAMMA Investing LLC now owns 79,608 shares of the asset manager's stock valued at $6,389,000 after buying an additional 78,879 shares during the period. Institutional investors and hedge funds own 51.47% of the company's stock.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.