Cohen & Steers Inc (NYSE:CNS – Get Free Report)’s share price passed 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 traded.
Analysts Set New Price Targets
A number of research analysts have issued reports on CNS shares. Zacks Research cut Cohen & Steers from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Weiss Ratings upgraded shares of Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Evercore restated an “outperform” rating and set a $88.00 price objective on shares of Cohen & Steers in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.00.
Get Our Latest Research Report on Cohen & Steers
Cohen & Steers Trading Up 4.1%
The firm has a market capitalization of $3.75 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.98 and a beta of 1.22. The company has a 50 day simple moving average of $74.44 and a two-hundred day simple moving average of $72.01.
Cohen & Steers (NYSE:CNS – Get Free Report) last released its earnings results on Thursday, October 15th. The asset manager reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. Cohen & Steers had a return on equity of 27.45% and a net margin of 28.16%. The firm had revenue of $156.41 million for the quarter, compared to the consensus estimate of $155.12 million. During the same quarter in the previous year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Cohen & Steers Inc will post 3.48 EPS for the current fiscal year.
Cohen & Steers Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, November 9th will be issued a $0.67 dividend. The ex-dividend date is Monday, November 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. Cohen & Steers’s payout ratio is currently 82.21%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Cohen & Steers in the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in Cohen & Steers by 88.9% during the first quarter. EverSource Wealth Advisors LLC now owns 610 shares of the asset manager’s stock worth $38,000 after acquiring an additional 287 shares during the period. Root Financial Partners LLC purchased a new stake in Cohen & Steers in the 3rd quarter worth approximately $39,000. IFP Advisors Inc grew its stake in shares of Cohen & Steers by 196.7% during the 2nd quarter. IFP Advisors Inc now owns 804 shares of the asset manager’s stock worth $61,000 after purchasing an additional 533 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in shares of 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 purchasing an additional 784 shares in the last quarter. 51.47% of the stock is owned by institutional investors and hedge funds.
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.
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