Cohen & Steers Inc. (CNS) Stock Rating Lowered by Zacks Investment Research
Cohen & Steers Inc. (NYSE:CNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Separately, Credit Suisse Group AG began coverage on Cohen & Steers in a research note on Thursday, July 14th. They set a “neutral” rating and a $42.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cohen & Steers currently has a consensus rating of “Buy” and a consensus target price of $44.25.
Shares of Cohen & Steers (NYSE:CNS) opened at 39.24 on Tuesday. Cohen & Steers has a 1-year low of $25.84 and a 1-year high of $43.83. The firm has a market cap of $1.80 billion, a P/E ratio of 26.66 and a beta of 1.12. The firm’s 50-day moving average is $42.09 and its 200-day moving average is $40.76.
Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%. The company had revenue of $86.40 million for the quarter, compared to the consensus estimate of $86.12 million. During the same quarter in the prior year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts anticipate that Cohen & Steers will post $1.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Tuesday, August 30th. Cohen & Steers’s dividend payout ratio (DPR) is presently 73.24%.
A number of large investors have recently bought and sold shares of the stock. Aperio Group LLC boosted its stake in Cohen & Steers by 1.6% in the first quarter. Aperio Group LLC now owns 7,546 shares of the company’s stock worth $294,000 after buying an additional 118 shares during the period. Teachers Advisors Inc. boosted its stake in Cohen & Steers by 30.7% in the first quarter. Teachers Advisors Inc. now owns 48,235 shares of the company’s stock worth $1,877,000 after buying an additional 11,337 shares during the period. BlackRock Inc. boosted its stake in Cohen & Steers by 75.1% in the first quarter. BlackRock Inc. now owns 3,616 shares of the company’s stock worth $141,000 after buying an additional 1,551 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Cohen & Steers by 3.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 584,132 shares of the company’s stock worth $22,734,000 after buying an additional 19,425 shares during the period. Finally, Royce & Associates LP boosted its stake in Cohen & Steers by 17.5% in the first quarter. Royce & Associates LP now owns 335,337 shares of the company’s stock worth $13,051,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 44.35% of the company’s stock.
About Cohen & Steers
Cohen & Steers, Inc 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 around the world.
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