Cohen & Steers (NYSE:CNS) Sets New 52-Week High – Here’s What Happened

Shares of Cohen & Steers Inc (NYSE:CNS) hit a new 52-week high during trading on Thursday . The company traded as high as $80.56 and last traded at $80.6370, with a volume of 23316 shares trading hands. The stock had previously closed at $78.87.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CNS shares. Evercore restated an “outperform” rating and set a $84.00 price objective on shares of Cohen & Steers in a research report on Friday, July 10th. Zacks Research raised Cohen & Steers from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Weiss Ratings upgraded Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.00.

Cohen & Steers Price Performance

The stock has a fifty day moving average price of $74.52 and a two-hundred day moving average price of $68.65. The company has a market cap of $4.13 billion, a P/E ratio of 26.53, a PEG ratio of 1.93 and a beta of 1.22.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data on Thursday, April 16th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.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 company earned $0.75 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Cohen & Steers Inc will post 3.59 earnings per share for the current year.

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, May 11th. Cohen & Steers’s payout ratio is 88.45%.

Insider Activity

In other news, EVP Daniel Noonan sold 4,360 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total transaction of $337,158.80. Following the transaction, the executive vice president directly owned 28,682 shares of the company’s stock, valued at approximately $2,217,979.06. This trade represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 45.40% of the company’s stock.

Hedge Funds Weigh In On Cohen & Steers

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its position in shares of Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after buying an additional 297 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Cohen & Steers in the fourth quarter valued at approximately $28,000. Aster Capital Management DIFC Ltd bought a new position in shares of Cohen & Steers in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Cohen & Steers by 110.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 299 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in Cohen & Steers by 754.9% during the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock worth $38,000 after purchasing an additional 536 shares in the last quarter. Institutional investors own 51.47% of the company’s stock.

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).