Cohen & Steers (NYSE:CNS) Sets New 1-Year High – What’s Next?

Cohen & Steers Inc (NYSE:CNS) shares reached a new 52-week high on Tuesday . The stock traded as high as $80.21 and last traded at $79.49, with a volume of 253696 shares trading hands. The stock had previously closed at $78.57.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Evercore reiterated an “outperform” rating and set a $82.00 target price on shares of Cohen & Steers in a research report on Monday, June 8th. Zacks Research raised shares of Cohen & Steers from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Finally, Weiss Ratings upgraded shares of Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cohen & Steers presently has an average rating of “Hold” and a consensus price target of $75.00.

Cohen & Steers Price Performance

The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The stock has a 50-day moving average of $73.71 and a 200 day moving average of $68.14.

Cohen & Steers (NYSE:CNS) last issued its earnings results on Thursday, April 16th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.03). Cohen & Steers had a net margin of 27.47% and a return on equity of 27.60%. The business had revenue of $144.26 million during the quarter, compared to the consensus estimate of $140.62 million. During the same period last year, the business posted $0.75 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Cohen & Steers Inc will post 3.47 earnings per share for the current fiscal year.

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, May 11th. Cohen & Steers’s payout ratio is currently 88.45%.

Insider Activity at Cohen & Steers

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total transaction of $337,158.80. Following the completion of the sale, the executive vice president owned 28,682 shares in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 45.40% of the company’s stock.

Institutional Investors Weigh In On Cohen & Steers

A number of institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund lifted its stake in Cohen & Steers by 2.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,338 shares of the asset manager’s stock valued at $398,000 after buying an additional 176 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Cohen & Steers by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager’s stock worth $1,497,000 after buying an additional 185 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Cohen & Steers by 0.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 30,194 shares of the asset manager’s stock worth $2,276,000 after buying an additional 229 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Cohen & Steers by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 16,333 shares of the asset manager’s stock valued at $1,024,000 after acquiring an additional 231 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Cohen & Steers by 88.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 610 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 287 shares during the last quarter. 51.47% of the stock is owned by institutional investors and hedge funds.

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).