Cohen & Steers, Inc. (NYSE:CNS – Get Rating) announced a quarterly dividend on Friday, May 5th, Wall Street Journal reports. Stockholders of record on Monday, May 15th will be given a dividend of 0.57 per share by the asset manager on Thursday, May 25th. This represents a $2.28 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Friday, May 12th.
Cohen & Steers has increased its dividend payment by an average of 15.2% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Cohen & Steers has a dividend payout ratio of 66.3% indicating that its dividend is sufficiently covered by earnings.
Cohen & Steers Price Performance
Shares of NYSE:CNS traded up $0.87 during midday trading on Friday, hitting $55.11. 110,412 shares of the company’s stock were exchanged, compared to its average volume of 139,339. Cohen & Steers has a 12 month low of $52.34 and a 12 month high of $78.87. The stock has a 50 day moving average price of $63.54 and a 200-day moving average price of $65.80. The company has a market cap of $2.71 billion, a PE ratio of 16.29 and a beta of 1.34.
Cohen & Steers (NYSE:CNS – Get Rating) last issued its quarterly earnings data on Thursday, April 20th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Cohen & Steers had a net margin of 30.50% and a return on equity of 53.46%. The business had revenue of $126.08 million during the quarter. During the same period in the previous year, the company posted $1.04 earnings per share. The company’s revenue for the quarter was down 18.2% on a year-over-year basis.
Institutional Investors Weigh In On Cohen & Steers
Several institutional investors have recently made changes to their positions in CNS. Alliancebernstein L.P. grew its holdings in Cohen & Steers by 6.8% during the 4th quarter. Alliancebernstein L.P. now owns 32,981 shares of the asset manager’s stock valued at $2,129,000 after buying an additional 2,100 shares in the last quarter. State of Wyoming boosted its holdings in Cohen & Steers by 26.4% in the 4th quarter. State of Wyoming now owns 2,619 shares of the asset manager’s stock valued at $169,000 after purchasing an additional 547 shares during the period. CI Private Wealth LLC purchased a new position in shares of Cohen & Steers during the 4th quarter valued at $202,000. MetLife Investment Management LLC increased its holdings in shares of Cohen & Steers by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 13,334 shares of the asset manager’s stock worth $861,000 after purchasing an additional 198 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in shares of Cohen & Steers in the fourth quarter worth $267,000. Hedge funds and other institutional investors own 47.37% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on CNS shares. StockNews.com started coverage on shares of Cohen & Steers in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Evercore ISI dropped their price objective on Cohen & Steers from $77.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, April 13th.
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.