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. Investors 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 an increase from Cohen & Steers’s previous quarterly dividend of $0.59.

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

Cohen & Steers Trading Up 0.2 %

Cohen & Steers stock traded up $0.14 during mid-day trading on Thursday, hitting $86.55. The stock had a trading volume of 178,911 shares, compared to its average volume of 193,125. The firm has a market capitalization of $4.38 billion, a P/E ratio of 29.14 and a beta of 1.56. The firm’s 50 day moving average is $89.79 and its 200 day moving average is $93.23. Cohen & Steers has a one year low of $64.13 and a one year high of $110.67.

Cohen & Steers (NYSE:CNS) last posted 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%.

Analyst Ratings Changes

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

About Cohen & Steers

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.