NEW YORK - Cohen & Steers, Inc. (NYSE:CNS), a global investment management firm, has announced a quarterly cash dividend of $0.59 per share. The dividend is payable to stockholders of record as of November 18, 2024, and will be distributed on December 2, 2024.
Cohen & Steers, known for its focus on real assets and alternative income, has a history dating back to 1986. The firm operates globally, with offices in major financial hubs including London, Dublin, Hong Kong, Tokyo, and Singapore, in addition to its New York City headquarters.
The declaration of this dividend follows the company's regular practice of providing returns to its shareholders and reflects its financial performance and cash flow generation. The dividend amount has been determined by the Board of Directors and is subject to applicable tax considerations.
Investors in Cohen & Steers can anticipate the receipt of the dividend in early December, provided they are registered as shareholders by the close of business on the specified record date in November.
This announcement is based on a press release statement from Cohen & Steers, Inc. and contains only key information regarding the dividend declaration. It is intended for shareholders and investors who track the company's financial distributions.
In other recent news, Cohen & Steers reported a growth in third-quarter earnings, with earnings per share rising to $0.77 from $0.68 in the previous quarter. The firm's revenues also saw an uptick, reaching $133 million from $122 million. This period marked the company's first positive net inflows since Q1 2022, primarily driven by robust U.S. REIT strategies. The company's global infrastructure fund also performed notably well, registering a 33.3% return in the past 12 months. The firm is adapting to industry shifts by focusing on active ETF strategies and a non-traded REIT strategy, which has outperformed its index with an 8.3% return through September. Looking ahead, Cohen & Steers anticipates stable compensation ratios and a 6-7% increase in G&A expenses for the year. The company also expects $1 billion in redemptions, split between two quarters. Despite facing some challenges, including outflows in Japan sub-advisory, the firm remains focused on leveraging its expertise in real estate and preferred securities.
InvestingPro Insights
Cohen & Steers' recent dividend announcement aligns with its strong track record of shareholder returns. According to InvestingPro data, the company has maintained dividend payments for 21 consecutive years, demonstrating a commitment to consistent shareholder value. The current dividend yield stands at 2.31%, based on the most recent data.
The firm's financial health appears robust, with a market capitalization of $5.16 billion and a revenue of $496.82 million over the last twelve months as of Q3 2024. Cohen & Steers has shown profitability, with a gross profit margin of 46.58% and an operating income margin of 32.49% during the same period.
InvestingPro Tips highlight that Cohen & Steers has delivered a strong return over the last year, with a one-year price total return of 92.01%. This performance is particularly noteworthy given the company's focus on real assets and alternative income, which may have benefited from market conditions.
Investors should note that while the company's financial metrics are generally positive, it is trading at a high P/E ratio of 37.56, which may indicate that the stock is priced at a premium relative to its earnings. This valuation factor is something potential investors might want to consider in their analysis.
For those seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Cohen & Steers, providing a deeper dive into the company's financial health and market position.
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