Cohen & Steers (NYSE:CNS) Shares Gap Down – Time to Sell?

Cohen & Steers Inc (NYSE:CNS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $68.78, but opened at $65.93. Cohen & Steers shares last traded at $65.67, with a volume of 6,069 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on CNS. Evercore ISI increased their price objective on Cohen & Steers from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Bank of America raised their target price on shares of Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Zacks Research cut Cohen & Steers from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Cohen & Steers currently has an average rating of “Reduce” and an average price target of $72.50.

Cohen & Steers Stock Performance

The business has a 50 day moving average of $64.26 and a two-hundred day moving average of $68.40. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 1.93 and a beta of 1.29.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings data on Thursday, January 22nd. The asset manager reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. Cohen & Steers had a return on equity of 29.37% and a net margin of 27.55%.The firm had revenue of $143.79 million during the quarter, compared to the consensus estimate of $144.30 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis.

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, November 10th. Cohen & Steers’s dividend payout ratio (DPR) is currently 83.22%.

Insider Activity at Cohen & Steers

In other Cohen & Steers news, Director Martin Cohen bought 12,708 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were bought at an average price of $60.83 per share, for a total transaction of $773,027.64. Following the acquisition, the director directly owned 949,205 shares of the company’s stock, valued at approximately $57,740,140.15. The trade was a 1.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 100,000 shares of company stock worth $5,982,368 over the last ninety days. Insiders own 45.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. AG grew its position in Cohen & Steers by 15.6% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 30,088 shares of the asset manager’s stock worth $1,889,000 after purchasing an additional 4,067 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Cohen & Steers by 40.5% during the 4th quarter. Teacher Retirement System of Texas now owns 99,778 shares of the asset manager’s stock valued at $6,264,000 after purchasing an additional 28,740 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cohen & Steers by 18.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,632 shares of the asset manager’s stock worth $416,000 after purchasing an additional 1,023 shares during the period. CWM LLC boosted its holdings in shares of Cohen & Steers by 499.0% in the 4th quarter. CWM LLC now owns 4,666 shares of the asset manager’s stock worth $293,000 after buying an additional 3,887 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Cohen & Steers by 459.2% during the fourth quarter. Farther Finance Advisors LLC now owns 699 shares of the asset manager’s stock valued at $44,000 after buying an additional 574 shares during the period. 51.47% of the stock is owned by institutional investors.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).