Cohen & Steers Inc (NYSE:CNS) Announces $0.67 Quarterly Dividend

Cohen & Steers Inc (NYSE:CNSGet Free Report) announced a quarterly dividend on Thursday, July 30th. Investors of record on Monday, August 10th will be given a dividend of 0.67 per share by the asset manager on Thursday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, August 10th.

Cohen & Steers has decreased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 16 years. Cohen & Steers has a dividend payout ratio of 81.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Cohen & Steers to earn $3.86 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 69.4%.

Cohen & Steers Stock Performance

Shares of CNS opened at $81.52 on Friday. The firm has a market cap of $4.19 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 2.01 and a beta of 1.22. The business has a 50-day moving average of $76.60 and a 200 day moving average of $69.95. Cohen & Steers has a fifty-two week low of $58.39 and a fifty-two week high of $84.93.

Cohen & Steers (NYSE:CNSGet Free Report) last released its quarterly earnings data on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $151.84 million during the quarter, compared to analysts’ expectations of $149.45 million. Cohen & Steers had a net margin of 28.82% and a return on equity of 28.03%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. As a group, research analysts predict that Cohen & Steers will post 3.49 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Elena Dulik sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $83.16, for a total value of $91,476.00. Following the completion of the sale, the chief accounting officer owned 22,146 shares in the company, valued at $1,841,661.36. The trade was a 4.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Noonan sold 4,360 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the sale, the executive vice president directly owned 28,682 shares of the company’s stock, valued at approximately $2,217,979.06. This represents a 13.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 45.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cohen & Steers

Several hedge funds have recently made changes to their positions in CNS. Geneos Wealth Management Inc. boosted its holdings in Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 297 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Cohen & Steers in the 4th quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Cohen & Steers in the 4th quarter worth about $31,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Cohen & Steers by 110.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 299 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in Cohen & Steers by 754.9% in the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock worth $38,000 after buying an additional 536 shares during the period. 51.47% of the stock is owned by hedge funds and other institutional investors.

Cohen & Steers Company Profile

(Get Free Report)

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).

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Dividend History for Cohen & Steers (NYSE:CNS)

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