Cohen & Steers (NYSE:CNS) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Cohen & Steers (NYSE:CNSGet Free Report) announced its earnings results on Thursday. The asset manager reported $0.79 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.03), FiscalAI reports. Cohen & Steers had a return on equity of 28.21% and a net margin of 27.47%.The firm had revenue of $144.26 million for the quarter, compared to the consensus estimate of $140.62 million. During the same period in the previous year, the firm earned $0.75 EPS. Cohen & Steers’s revenue for the quarter was up 8.3% on a year-over-year basis.

Cohen & Steers Stock Performance

Shares of NYSE:CNS opened at $66.62 on Friday. The stock’s 50-day moving average is $64.60 and its 200-day moving average is $65.07. The company has a market cap of $3.42 billion, a P/E ratio of 21.99, a P/E/G ratio of 1.68 and a beta of 1.26. Cohen & Steers has a 52-week low of $58.39 and a 52-week high of $83.99.

Cohen & Steers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 4.0%. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, March 9th. Cohen & Steers’s dividend payout ratio is currently 89.93%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CNS. Zacks Research raised Cohen & Steers from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cohen & Steers in a report on Wednesday, January 21st. Finally, Evercore set a $75.00 price target on Cohen & Steers and gave the company an “outperform” rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $71.50.

Get Our Latest Stock Report on Cohen & Steers

Insider Buying and Selling at Cohen & Steers

In related news, EVP Francis C. Poli sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $65.73, for a total transaction of $657,300.00. Following the completion of the sale, the executive vice president owned 55,675 shares in the company, valued at $3,659,517.75. This represents a 15.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 45.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans raised its stake in shares of Cohen & Steers by 0.9% in the second quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager’s stock valued at $1,497,000 after acquiring an additional 185 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Cohen & Steers by 0.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 30,194 shares of the asset manager’s stock valued at $2,276,000 after purchasing an additional 229 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Cohen & Steers by 345.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 297 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Cohen & Steers by 110.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock worth $36,000 after purchasing an additional 299 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Cohen & Steers by 1.3% in the third quarter. Alliancebernstein L.P. now owns 34,386 shares of the asset manager’s stock worth $2,256,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.

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Cohen & Steers Company Profile

(Get Free Report)

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).

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Earnings History for Cohen & Steers (NYSE:CNS)

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