Cohen & Steers (CNS) Declares $0.57 Dividend

Cohen & Steers said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.57 per share ($2.28 annualized). Previously, the company paid $0.57 per share.

Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on May 25, 2023.

At the current share price of $54.24 / share, the stock's dividend yield is 4.20%.

Looking back five years and taking a sample every week, the average dividend yield has been 5.42%, the lowest has been 2.92%, and the highest has been 11.53%. The standard deviation of yields is 2.07 (n=236).

The current dividend yield is 0.59 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.68. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.36%.

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What is the Fund Sentiment?

There are 443 funds or institutions reporting positions in Cohen & Steers. This is a decrease of 15 owner(s) or 3.28% in the last quarter. Average portfolio weight of all funds dedicated to CNS is 0.18%, an increase of 10.93%. Total shares owned by institutions increased in the last three months by 4.74% to 33,328K shares. The put/call ratio of CNS is 5.43, indicating a bearish outlook.

Analyst Price Forecast Suggests 27.88% Upside

As of April 24, 2023, the average one-year price target for Cohen & Steers is 69.36. The forecasts range from a low of 68.68 to a high of $71.40. The average price target represents an increase of 27.88% from its latest reported closing price of 54.24.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Cohen & Steers is 515MM, a decrease of 4.50%. The projected annual non-GAAP EPS is 3.35.

What are Other Shareholders Doing?

Bamco holds 3,059K shares representing 6.23% ownership of the company. In it's prior filing, the firm reported owning 3,121K shares, representing a decrease of 2.03%. The firm increased its portfolio allocation in CNS by 5.01% over the last quarter.

BGRFX - BARON GROWTH FUND holds 1,860K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 1,900K shares, representing a decrease of 2.15%. The firm decreased its portfolio allocation in CNS by 7.90% over the last quarter.

Wasatch Advisors holds 1,628K shares representing 3.32% ownership of the company. In it's prior filing, the firm reported owning 1,580K shares, representing an increase of 2.96%. The firm increased its portfolio allocation in CNS by 2.90% over the last quarter.

Clearbridge Investments holds 1,290K shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 1,310K shares, representing a decrease of 1.58%. The firm decreased its portfolio allocation in CNS by 0.60% over the last quarter.

Victory Capital Management holds 1,242K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 1,220K shares, representing an increase of 1.70%. The firm decreased its portfolio allocation in CNS by 38.74% over the last quarter.

Cohen & Steers Background Information
(This description is provided by the company.)

Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong and Tokyo.

This story originally appeared on Fintel.