(PTA) Cohen & Steers - Ratings and Ratios
Preferred Stock, Corporate Debt, Convertible Securities, Contingent Capital
Dividends
| Dividend Yield | 8.36% |
| Yield on Cost 5y | 9.40% |
| Yield CAGR 5y | -1.97% |
| Payout Consistency | 97.3% |
| Payout Ratio | 122.8% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 12.1% |
| Value at Risk 5%th | 20.6% |
| Relative Tail Risk | 3.60% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.17 |
| Alpha | -3.65 |
| CAGR/Max DD | 0.58 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.404 |
| Beta | 0.443 |
| Beta Downside | 0.549 |
| Drawdowns 3y | |
|---|---|
| Max DD | 18.81% |
| Mean DD | 4.50% |
| Median DD | 3.43% |
Description: PTA Cohen & Steers November 16, 2025
Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund (NYSE: PTA) is a closed-end fund launched on 26 Oct 2020 that invests globally in a mix of preferred equity, convertible and contingent-capital securities, as well as floating-rate and fixed-to-floating-rate corporate debt. The portfolio is built through fundamental credit analysis and is limited to issuers rated BBB- or higher by S&P, with no maturity constraints.
Key metrics as of the latest filing (Q3 2024) show an expense ratio of 0.78 %, a 30-day SEC yield of roughly 5.4 % and total assets under management (AUM) of about $1.2 bn. The fund’s weighted-average duration sits near 4.5 years, and its distribution rate has averaged 5.2 % over the past 12 months, reflecting its focus on higher-yielding, tax-advantaged securities.
The fund’s performance is closely tied to three macro drivers: (1) the U.S. Federal Reserve’s policy rate path, which influences the spread between preferred securities and Treasuries; (2) inflation-adjusted corporate earnings, which affect the credit quality of BBB-plus issuers; and (3) regulatory shifts in the tax treatment of preferred dividends, which can alter investor demand for tax-advantaged income streams.
For a deeper quantitative dive, you might explore ValueRay’s analytics on PTA’s risk-adjusted return profile and scenario-based stress tests.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income (241.5m TTM) > 0 and > 6% of Revenue (6% = 14.6m TTM) |
| FCFTA 0.05 (>2.0%) and ΔFCFTA -5.38pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| error: NWC/Revenue cannot be calculated (needs Current Assets/Liabilities and Revenue current+prev) |
| CFO/TA 0.05 (>3.0%) and CFO 82.6m <= Net Income 241.5m (YES >=105%, WARN >=100%) |
| Net Debt (602.3m) to EBITDA (241.5m) ratio: 2.49 <= 3.0 (WARN <= 3.5) |
| Current Ratio 5.19 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (55.3m) change vs 12m ago 0.0% (target <= -2.0% for YES) |
| error: Gross Margin (current vs previous) cannot be calculated (needs Total Revenue and Cost Of Revenue) |
| Asset Turnover 14.41% (prev 0.0%; Δ 14.41pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 6.60 (EBITDA TTM 241.5m / Interest Expense TTM 36.6m) >= 6 (WARN >= 3) |
Altman Z'' 2.46
| (A) 0.01 = (Total Current Assets 23.5m - Total Current Liabilities 4.53m) / Total Assets 1.71b |
| (B) -0.15 = Retained Earnings (Balance) -251.4m / Total Assets 1.71b |
| (C) 0.14 = EBIT TTM 241.5m / Avg Total Assets 1.69b |
| (D) 1.81 = Book Value of Equity 1.10b / Total Liabilities 610.5m |
| Total Rating: 2.46 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 67.40
| 1. Piotroski 3.50pt |
| 2. FCF Yield 4.92% |
| 3. FCF Margin 33.98% |
| 4. Debt/Equity 0.55 |
| 5. Debt/Ebitda 2.49 |
| 6. ROIC - WACC (= 4.57)% |
| 7. RoE 21.90% |
| 8. Revenue Trend data missing |
| 10. EPS Trend data missing |
What is the price of PTA shares?
Over the past week, the price has changed by -0.50%, over one month by -2.45%, over three months by -4.59% and over the past year by +6.33%.
Is PTA a buy, sell or hold?
- Strong Buy: 0
- Buy: 0
- Hold: 1
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the PTA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 20.9 | 8.7% |
PTA Fundamental Data Overview December 05, 2025
P/E Trailing = 14.8855
P/S = 14.4366
P/B = 0.9723
Beta = None
Revenue TTM = 243.1m USD
EBIT TTM = 241.5m USD
EBITDA TTM = 241.5m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 604.0m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 602.3m USD (from netDebt column, last quarter)
Enterprise Value = 1.68b USD (1.08b + Debt 604.0m - CCE 1.72m)
Interest Coverage Ratio = 6.60 (Ebit TTM 241.5m / Interest Expense TTM 36.6m)
FCF Yield = 4.92% (FCF TTM 82.6m / Enterprise Value 1.68b)
FCF Margin = 33.98% (FCF TTM 82.6m / Revenue TTM 243.1m)
Net Margin = 99.32% (Net Income TTM 241.5m / Revenue TTM 243.1m)
Gross Margin = 84.95% ((Revenue TTM 243.1m - Cost of Revenue TTM 36.6m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.98 (Enterprise Value 1.68b / Total Assets 1.71b)
Interest Expense / Debt = 6.06% (Interest Expense 36.6m / Debt 604.0m)
Taxrate = 21.0% (US default 21%)
NOPAT = 190.8m (EBIT 241.5m * (1 - 21.00%))
Current Ratio = 5.19 (Total Current Assets 23.5m / Total Current Liabilities 4.53m)
Debt / Equity = 0.55 (Debt 604.0m / totalStockholderEquity, last quarter 1.10b)
Debt / EBITDA = 2.49 (Net Debt 602.3m / EBITDA 241.5m)
Debt / FCF = 7.29 (Net Debt 602.3m / FCF TTM 82.6m)
Total Stockholder Equity = 1.10b (last 4 quarters mean from totalStockholderEquity)
RoA = 14.08% (Net Income 241.5m / Total Assets 1.71b)
RoE = 21.90% (Net Income TTM 241.5m / Total Stockholder Equity 1.10b)
RoCE = 14.12% (EBIT 241.5m / Capital Employed (Total Assets 1.71b - Current Liab 4.53m))
RoIC = 11.19% (NOPAT 190.8m / Invested Capital 1.70b)
WACC = 6.62% (E(1.08b)/V(1.68b) * Re(7.65%) + D(604.0m)/V(1.68b) * Rd(6.06%) * (1-Tc(0.21)))
Discount Rate = 7.65% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 0.0 | Cagr: 0.0%
[DCF Debug] Terminal Value 70.46% ; FCFE base≈117.3m ; Y1≈77.0m ; Y5≈35.2m
Fair Price DCF = 12.53 (DCF Value 692.3m / Shares Outstanding 55.3m; 5y FCF grow -40.0% → 3.0% )
Revenue Correlation: N/A | Revenue CAGR: 0.0% | SUE: N/A | # QB: 0
Additional Sources for PTA Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle