Cohen & Steers (NYSE:CNS – Get Free Report) issued its earnings results on Thursday. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01), FiscalAI reports. The company had revenue of $151.84 million for the quarter, compared to analyst estimates of $149.45 million. Cohen & Steers had a net margin of 27.47% and a return on equity of 27.60%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the business earned $0.73 EPS.
Cohen & Steers Trading Up 2.3%
Shares of CNS stock opened at $80.71 on Friday. Cohen & Steers has a 1 year low of $58.39 and a 1 year high of $81.17. The firm’s fifty day simple moving average is $74.71 and its 200 day simple moving average is $68.77. The firm has a market capitalization of $4.15 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.95 and a beta of 1.22.
Cohen & Steers Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. Cohen & Steers’s payout ratio is 88.45%.
Insider Activity
Institutional Trading of Cohen & Steers
A number of hedge funds have recently modified their holdings of CNS. Mercer Global Advisors Inc. ADV acquired a new position in shares of Cohen & Steers in the fourth quarter valued at $268,000. State of Tennessee Department of Treasury boosted its holdings in Cohen & Steers by 147.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 21,596 shares of the asset manager’s stock valued at $1,388,000 after purchasing an additional 12,859 shares in the last quarter. XTX Topco Ltd boosted its holdings in Cohen & Steers by 48.3% during the fourth quarter. XTX Topco Ltd now owns 19,144 shares of the asset manager’s stock valued at $1,202,000 after purchasing an additional 6,233 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Cohen & Steers by 31.5% in the 4th quarter. Voloridge Investment Management LLC now owns 177,784 shares of the asset manager’s stock valued at $11,161,000 after purchasing an additional 42,547 shares during the period. Finally, Twinbeech Capital LP bought a new stake in shares of Cohen & Steers in the 4th quarter valued at approximately $1,660,000. Institutional investors own 51.47% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Weiss Ratings raised Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 29th. Evercore reiterated an “outperform” rating and set a $84.00 price target on shares of Cohen & Steers in a report on Friday, July 10th. Finally, Zacks Research upgraded shares of Cohen & Steers from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cohen & Steers has a consensus rating of “Hold” and a consensus target price of $76.00.
Get Our Latest Analysis on CNS
About Cohen & Steers
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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