Cohen & Steers (NYSE:CNS) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

Cohen & Steers Inc (NYSE:CNS)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $72.01 and traded as high as $73.05. Cohen & Steers shares last traded at $72.9290, with a volume of 181,154 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNS. Weiss Ratings upgraded Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Zacks Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Finally, Evercore reissued an “outperform” rating and issued a $88.00 target price on shares of Cohen & Steers in a research note on Monday, August 10th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Cohen & Steers Price Performance

The stock has a market cap of $3.74 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 3.10 and a beta of 1.22. The business has a 50 day moving average price of $74.28 and a two-hundred day moving average price of $72.03.

Cohen & Steers (NYSE:CNS) last issued its earnings results on Thursday, October 15th. The asset manager reported $0.89 EPS for the quarter, hitting the consensus estimate of $0.89. The company had revenue of $156.41 million for the quarter, compared to the consensus estimate of $155.12 million. Cohen & Steers had a net margin of 28.16% and a return on equity of 27.45%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 earnings per share. On average, sell-side analysts forecast that Cohen & Steers Inc will post 3.48 earnings per share for the current fiscal year.

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, November 9th. Cohen & Steers’s payout ratio is currently 82.21%.

Institutional Investors Weigh In On Cohen & Steers

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in Cohen & Steers during the third quarter valued at approximately $1,971,000. ProShare Advisors LLC grew its position in Cohen & Steers by 37.6% in the 3rd quarter. ProShare Advisors LLC now owns 126,251 shares of the asset manager’s stock worth $9,230,000 after purchasing an additional 34,512 shares during the period. State of Wyoming grew its position in Cohen & Steers by 150.7% in the 3rd quarter. State of Wyoming now owns 2,627 shares of the asset manager’s stock worth $192,000 after purchasing an additional 1,579 shares during the period. Signaturefd LLC grew its position in Cohen & Steers by 34.2% in the 3rd quarter. Signaturefd LLC now owns 1,512 shares of the asset manager’s stock worth $111,000 after purchasing an additional 385 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Cohen & Steers by 598.5% during the 3rd quarter. Sterling Capital Management LLC now owns 915 shares of the asset manager’s stock valued at $67,000 after buying an additional 784 shares during the last quarter. 51.47% of the stock is currently owned by institutional investors.

About Cohen & Steers

Cohen & Steers, Inc is a global investment management company specializing in real assets and alternative income. The firm manages investment strategies focused on real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented assets.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios and private-market strategies. Cohen & Steers serves institutional investors, financial intermediaries and individual investors through a range of publicly traded and privately held investment vehicles.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and serves clients in North America, Europe and Asia.