Zacks Investment Research lowered shares of Cohen & Steers Inc. (NYSE:CNS) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Cohen & Steers, Inc. is a leading manager of income-oriented equity portfolios and specializes in common and preferred stocks of REITs and utilities, as well as other preferred securities. Based in New York City, the firm serves individual and institutional investors through a wide range of open-end funds, closed-end funds and separate accounts. “
Separately, Credit Suisse Group AG set a $42.00 price target on Cohen & Steers and gave the stock a hold rating in a research report on Sunday, September 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $44.25.
Shares of Cohen & Steers (NYSE:CNS) opened at 38.83 on Tuesday. Cohen & Steers has a 12-month low of $26.72 and a 12-month high of $43.83. The company has a 50-day moving average price of $41.97 and a 200 day moving average price of $40.75. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 26.38 and a beta of 1.12.
Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.03. The business had revenue of $86.40 million for the quarter, compared to analyst estimates of $86.12 million. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. Equities research analysts expect that Cohen & Steers will post $1.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.68%. Cohen & Steers’s payout ratio is presently 73.24%.
Several hedge funds and other institutional investors have recently bought and sold shares of CNS. Aperio Group LLC increased its position in Cohen & Steers by 1.6% in the first quarter. Aperio Group LLC now owns 7,546 shares of the company’s stock worth $294,000 after buying an additional 118 shares during the last quarter. Teachers Advisors Inc. increased its position in Cohen & Steers by 30.7% in the first quarter. Teachers Advisors Inc. now owns 48,235 shares of the company’s stock worth $1,877,000 after buying an additional 11,337 shares during the last quarter. BlackRock Inc. increased its position in Cohen & Steers by 75.1% in the first quarter. BlackRock Inc. now owns 3,616 shares of the company’s stock worth $141,000 after buying an additional 1,551 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Cohen & Steers by 3.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 584,132 shares of the company’s stock worth $22,734,000 after buying an additional 19,425 shares during the last quarter. Finally, Royce & Associates LP increased its position in Cohen & Steers by 17.5% in the first quarter. Royce & Associates LP now owns 335,337 shares of the company’s stock worth $13,051,000 after buying an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 44.35% of the company’s stock.
About Cohen & Steers
Cohen & Steers, Inc is a holding company. The Company is an investment manager with a focus on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The Company serves institutional and individual investors around the world.