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 November 19 to shareholders of record on November 9. The annualized dividend is $2.68, representing a 3.7% yield.
• The dividend is supported by earnings, though the current payout ratio is relatively high at 81.0%; analysts expect it to decline to 71.8% next year based on projected earnings of $3.73 per share.
• The company’s latest quarterly results met expectations with earnings of $0.89 per share, while revenue rose 11.1% year over year to $156.41 million.

Cohen & Steers Inc (NYSE:CNS - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Monday, November 9th will be paid a dividend of $0.67 per share by the asset manager on Thursday, November 19th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, November 9th.

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. Equities research analysts expect Cohen & Steers to earn $3.73 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 71.8%.

Cohen & Steers Stock Up 4.1%

Shares of CNS stock opened at $72.93 on Friday. The firm has a fifty day moving average of $74.44 and a 200-day moving average of $72.01. Cohen & Steers has a 12-month low of $58.39 and a 12-month high of $86.56. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 2.98 and a beta of 1.22.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its earnings results on Thursday, October 15th. The asset manager reported $0.89 earnings per share for the quarter, hitting analysts' consensus estimates of $0.89. The company had revenue of $156.41 million for the quarter, compared to analyst estimates of $155.12 million. Cohen & Steers had a return on equity of 27.45% and a net margin of 28.16%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. On average, equities analysts expect that Cohen & Steers will post 3.48 EPS for the current year.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a global investment management company specializing in real assets and alternative income. The firm manages investment strategies focused on real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented assets.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios and private-market strategies. Cohen & Steers serves institutional investors, financial intermediaries and individual investors through a range of publicly traded and privately held investment vehicles.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and serves clients in North America, Europe and Asia.

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