Cohen & Steers (NYSE:CNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
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 analysts have also recently issued research reports about the stock. Gabelli cut shares of Cohen & Steers from a “buy” rating to a “hold” rating and set a $54.00 price target for the company. in a research note on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $49.00 price target on shares of Cohen & Steers in a research note on Friday, December 22nd. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.80.
Cohen & Steers (NYSE:CNS) last issued its quarterly earnings results on Wednesday, January 24th. The asset manager reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $99.40 million during the quarter, compared to analysts’ expectations of $98.08 million. Cohen & Steers had a net margin of 24.31% and a return on equity of 33.83%. Cohen & Steers’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. sell-side analysts predict that Cohen & Steers will post 2.57 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Cohen & Steers by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,228 shares of the asset manager’s stock worth $699,000 after acquiring an additional 197 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Cohen & Steers by 61.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 3,706 shares of the asset manager’s stock worth $175,000 after acquiring an additional 1,405 shares during the period. FDx Advisors Inc. lifted its stake in shares of Cohen & Steers by 14.0% in the 4th quarter. FDx Advisors Inc. now owns 12,295 shares of the asset manager’s stock worth $581,000 after acquiring an additional 1,507 shares during the period. Synovus Financial Corp lifted its stake in shares of Cohen & Steers by 6.2% in the 3rd quarter. Synovus Financial Corp now owns 26,563 shares of the asset manager’s stock worth $1,047,000 after acquiring an additional 1,539 shares during the period. Finally, Naples Global Advisors LLC lifted its stake in shares of Cohen & Steers by 23.7% in the 4th quarter. Naples Global Advisors LLC now owns 8,495 shares of the asset manager’s stock worth $402,000 after acquiring an additional 1,625 shares during the period. Institutional investors own 47.40% of the company’s stock.
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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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