Cohen & Steers Inc (NYSE:CNS) Declares Quarterly Dividend of $0.67

Key Points

• Cohen & Steers declared a quarterly dividend of $0.67 per share, payable August 20 to shareholders of record on August 10. The dividend implies a 3.3% yield, and the company has raised its payout for 16 consecutive years.
• The dividend is currently supported by earnings, with an 81.0% payout ratio; analysts expect that ratio to improve to 69.4% next year based on projected earnings of $3.86 per share.
• Second-quarter revenue rose 12.2% year over year to $151.84 million, although earnings per share of $0.85 narrowly missed estimates. Shares opened at $81.52, near their 52-week high of $84.93.

Cohen & Steers Inc (NYSE:CNS - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Monday, August 10th will be paid a dividend of 0.67 per share by the asset manager on Thursday, August 20th. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 10th.

Cohen & Steers has decreased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 16 years. Cohen & Steers has a payout ratio of 81.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect Cohen & Steers to earn $3.86 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 69.4%.

Cohen & Steers Stock Performance

CNS opened at $81.52 on Friday. The firm has a market capitalization of $4.19 billion, a PE ratio of 25.01, a PEG ratio of 2.01 and a beta of 1.22. Cohen & Steers has a 52-week low of $58.39 and a 52-week high of $84.93. The business's 50-day simple moving average is $76.60 and its 200 day simple moving average is $69.95.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Cohen & Steers had a net margin of 28.82% and a return on equity of 28.03%. The firm had revenue of $151.84 million during the quarter, compared to the consensus estimate of $149.45 million. During the same period in the prior year, the business posted $0.73 earnings per share. Cohen & Steers's quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts forecast that Cohen & Steers will post 3.49 earnings per share for the current year.

Insider Buying and Selling at Cohen & Steers

In related news, CAO Elena Dulik sold 1,100 shares of the company's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the sale, the chief accounting officer owned 22,146 shares in the company, valued at $1,841,661.36. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total transaction of $337,158.80. Following the completion of the sale, the executive vice president owned 28,682 shares of the company's stock, valued at $2,217,979.06. This represents a 13.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 45.40% of the company's stock.

Institutional Investors Weigh In On Cohen & Steers

A number of hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Cohen & Steers by 2.0% in the 1st quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager's stock valued at $4,124,000 after purchasing an additional 1,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cohen & Steers by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager's stock worth $1,313,000 after acquiring an additional 716 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Cohen & Steers by 485.1% in the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager's stock valued at $7,477,000 after purchasing an additional 77,251 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Cohen & Steers during the first quarter valued at about $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cohen & Steers by 3.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager's stock worth $5,838,000 after purchasing an additional 2,155 shares in the last quarter. Institutional investors and hedge funds own 51.47% of the company's stock.

About Cohen & Steers

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).

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