Cohen & Steers (NYSE:CNS) Downgraded to “Strong Sell” Rating by Zacks Research

Cohen & Steers (NYSE:CNS) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities research analysts also recently weighed in on CNS. Evercore ISI upped their price objective on shares of Cohen & Steers from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, October 8th. Finally, Bank of America upped their price target on shares of Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $72.50.

Cohen & Steers Price Performance

Shares of CNS stock opened at $70.46 on Thursday. Cohen & Steers has a 12-month low of $58.39 and a 12-month high of $91.07. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.29. The business has a 50 day simple moving average of $63.80 and a 200 day simple moving average of $68.99.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Thursday, October 16th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $140.94 million during the quarter, compared to analyst estimates of $138.84 million. Cohen & Steers had a return on equity of 29.40% and a net margin of 29.73%.The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS.

Insider Activity at Cohen & Steers

In other Cohen & Steers news, Director Martin Cohen bought 12,708 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average cost of $60.83 per share, with a total value of $773,027.64. Following the completion of the purchase, the director directly owned 949,205 shares in the company, valued at approximately $57,740,140.15. This trade represents a 1.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have purchased 100,000 shares of company stock valued at $5,982,368. 47.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position in shares of Cohen & Steers by 345.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 297 shares in the last quarter. Tema Etfs LLC purchased a new stake in shares of Cohen & Steers in the fourth quarter valued at $59,000. Covestor Ltd lifted its holdings in shares of Cohen & Steers by 17.3% in the third quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 284 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Cohen & Steers in the first quarter worth $172,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Cohen & Steers by 376.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the asset manager’s stock valued at $194,000 after buying an additional 2,035 shares in the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

About Cohen & Steers

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).