Cohen & Steers, Inc. (NYSE:CNS) announced a quarterly dividend on Thursday, August 1st, Fidelity reports. Stockholders of record on Monday, August 12th will be paid a dividend of 0.36 per share by the asset manager on Thursday, August 22nd. This represents a $1.44 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Friday, August 9th.
Cohen & Steers has increased its dividend by an average of 9.7% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Cohen & Steers has a dividend payout ratio of 58.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cohen & Steers to earn $2.67 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 53.9%.
Shares of Cohen & Steers stock traded down $0.77 during trading hours on Wednesday, hitting $50.09. 10,907 shares of the company’s stock traded hands, compared to its average volume of 171,866. Cohen & Steers has a 12-month low of $32.95 and a 12-month high of $53.52. The stock has a market capitalization of $2.46 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 3.54 and a beta of 0.94. The stock’s fifty day moving average is $51.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.62 and a quick ratio of 6.62.
In other Cohen & Steers news, CFO Matthew S. Stadler sold 50,000 shares of Cohen & Steers stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $51.29, for a total transaction of $2,564,500.00. Following the completion of the transaction, the chief financial officer now owns 168,227 shares of the company’s stock, valued at approximately $8,628,362.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 50.63% of the stock is owned by insiders.
CNS has been the subject of several recent research reports. ValuEngine lowered Cohen & Steers from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America set a $37.00 target price on Cohen & Steers and gave the company a “sell” rating in a report on Tuesday, April 9th. Gabelli lowered Cohen & Steers from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Finally, Zacks Investment Research lowered Cohen & Steers from a “hold” rating to a “sell” rating and set a $55.00 target price for the company. in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.33.
Cohen & Steers Company Profile
Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.
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