Cohen & Steers (NYSE:CNS) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Cohen & Steers (NYSE:CNS) from a hold rating to a strong sell rating in a research report report published on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Evercore ISI raised their price target on Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Bank of America raised their target price on Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $72.50.

Cohen & Steers Stock Up 1.2%

NYSE:CNS opened at $70.46 on Thursday. The firm has a market cap of $3.59 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.29. Cohen & Steers has a 12 month low of $58.39 and a 12 month high of $91.07. The company’s 50-day moving average price is $63.80 and its two-hundred day moving average price is $68.99.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Thursday, October 16th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $140.94 million during the quarter, compared to analysts’ expectations of $138.84 million. Cohen & Steers had a net margin of 29.73% and a return on equity of 29.40%. Cohen & Steers’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, November 10th. Cohen & Steers’s dividend payout ratio is 77.74%.

Insider Transactions at Cohen & Steers

In other news, Director Martin Cohen acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average cost of $59.69 per share, for a total transaction of $2,984,500.00. Following the completion of the transaction, the director directly owned 899,205 shares in the company, valued at $53,673,546.45. This trade represents a 5.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders bought a total of 100,000 shares of company stock valued at $5,982,368 in the last quarter. 47.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CNS. Geneos Wealth Management Inc. grew 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 during the period. Tema Etfs LLC bought a new position in Cohen & Steers in the fourth quarter valued at approximately $59,000. Covestor Ltd grew its holdings in Cohen & Steers by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock worth $126,000 after acquiring an additional 284 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Cohen & Steers during the 1st quarter valued at $172,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Cohen & Steers by 376.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the asset manager’s stock valued at $194,000 after purchasing an additional 2,035 shares during the period. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Cohen & Steers Company Profile

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).