Zacks Investment Research upgraded shares of Cohen & Steers Inc. (NYSE:CNS) from a sell rating to a hold rating in a report published on Tuesday morning. Zacks Investment Research currently has $47.00 target price on the stock.
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 initiated coverage on shares of Cohen & Steers in a research note on Thursday, July 14th. They issued a neutral rating and a $42.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $44.25.
Cohen & Steers (NYSE:CNS) opened at 42.96 on Tuesday. The firm has a 50-day moving average of $42.36 and a 200 day moving average of $40.13. Cohen & Steers has a one year low of $25.84 and a one year high of $43.83. The company has a market capitalization of $1.97 billion, a P/E ratio of 29.18 and a beta of 1.30.
Cohen & Steers (NYSE:CNS) last issued its earnings results on Wednesday, July 20th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.03. The firm earned $86.40 million during the quarter, compared to the consensus estimate of $86.12 million. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. On average, equities analysts forecast that Cohen & Steers will post $1.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given 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 yield of 2.42%. Cohen & Steers’s dividend payout ratio (DPR) is 73.24%.
A number of hedge funds and other institutional investors have recently modified their holdings of CNS. Huntington National Bank acquired a new stake in shares of Cohen & Steers during the second quarter worth approximately $109,000. Teacher Retirement System of Texas boosted its stake in shares of Cohen & Steers by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,862 shares of the company’s stock worth $116,000 after buying an additional 352 shares in the last quarter. Barclays PLC acquired a new stake in shares of Cohen & Steers during the second quarter worth approximately $118,000. Societe Generale acquired a new stake in shares of Cohen & Steers during the second quarter worth approximately $124,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Cohen & Steers during the second quarter worth approximately $124,000. Institutional investors 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.
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