Cohen & Steers, Inc. (NYSE:CNS) Raises Dividend to $0.62 Per Share

Cohen & Steers, Inc. (NYSE:CNS) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 0.62 per share by the asset manager on Thursday, March 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.87%. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.59.

Cohen & Steers has raised its dividend by an average of 9.5% per year over the last three years and has raised its dividend every year for the last 15 years. Cohen & Steers has a payout ratio of 67.8% meaning its dividend is sufficiently covered by earnings.

Cohen & Steers Stock Up 0.2 %

Shares of CNS opened at $86.55 on Friday. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 29.14 and a beta of 1.56. Cohen & Steers has a 12 month low of $64.13 and a 12 month high of $110.67. The company has a 50-day moving average price of $89.51 and a two-hundred day moving average price of $93.18.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Wednesday, January 22nd. The asset manager reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). Cohen & Steers had a return on equity of 33.13% and a net margin of 29.24%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised their price target on shares of Cohen & Steers from $110.00 to $111.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

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.