Zacks Investment Research upgraded shares of Cohen & Steers Inc (NYSE:CNS) from a hold rating to a buy rating in a report issued on Thursday morning. They currently have $47.00 target price on the asset manager’s stock.
According to Zacks, “Cohen & Steers, Inc. is a leading manager of income-oriented equity portfolios and specializes in common and preferred stocks of REITs and utilities, as well as other preferred securities. Based in New York City, the firm serves individual and institutional investors through a wide range of open-end funds, closed-end funds and separate accounts. “
Other research analysts have also issued reports about the stock. BidaskClub raised shares of Cohen & Steers from a hold rating to a buy rating in a research note on Saturday, June 10th. Sidoti assumed coverage on shares of Cohen & Steers in a research note on Friday, March 3rd. They issued a buy rating and a $46.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $45.00.
Shares of Cohen & Steers (NYSE CNS) opened at 40.83 on Thursday. Cohen & Steers has a 12 month low of $33.16 and a 12 month high of $43.83. The company has a market capitalization of $1.89 billion, a PE ratio of 19.45 and a beta of 1.56. The firm’s 50-day moving average is $39.71 and its 200 day moving average is $37.43.
Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Wednesday, April 19th. The asset manager reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Cohen & Steers had a net margin of 27.19% and a return on equity of 33.45%. The business had revenue of $89.70 million during the quarter, compared to analysts’ expectations of $89.31 million. During the same period last year, the company posted $0.39 earnings per share. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts predict that Cohen & Steers will post $1.96 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Thursday, June 1st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Tuesday, May 30th. Cohen & Steers’s dividend payout ratio (DPR) is 53.59%.
In other Cohen & Steers news, insider Francis C. Poli sold 11,840 shares of the firm’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $40.54, for a total value of $479,993.60. Following the transaction, the insider now directly owns 53,047 shares of the company’s stock, valued at $2,150,525.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 52.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNS. Renaissance Group LLC raised its position in Cohen & Steers by 1.1% in the fourth quarter. Renaissance Group LLC now owns 7,660 shares of the asset manager’s stock worth $257,000 after buying an additional 85 shares during the period. AQR Capital Management LLC raised its position in Cohen & Steers by 1.1% in the fourth quarter. AQR Capital Management LLC now owns 8,315 shares of the asset manager’s stock worth $279,000 after buying an additional 92 shares during the period. Principal Financial Group Inc. raised its position in Cohen & Steers by 5.8% in the first quarter. Principal Financial Group Inc. now owns 10,046 shares of the asset manager’s stock worth $402,000 after buying an additional 552 shares during the period. American International Group Inc. raised its position in Cohen & Steers by 7.1% in the first quarter. American International Group Inc. now owns 12,869 shares of the asset manager’s stock worth $514,000 after buying an additional 855 shares during the period. Finally, Swiss National Bank raised its position in Cohen & Steers by 3.3% in the first quarter. Swiss National Bank now owns 34,200 shares of the asset manager’s stock worth $1,367,000 after buying an additional 1,100 shares during the period. 45.82% of the stock is currently owned by hedge funds and other institutional investors.
Cohen & Steers Company Profile
Cohen & Steers, Inc (CNS) is a holding company. The Company is an investment manager with a focus on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The Company serves institutional and individual investors.
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