Cohen & Steers Inc (CNS) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Cohen & Steers Inc (NYSE:CNS) from a hold rating to a buy rating in a research note issued to investors on Monday. Zacks Investment Research currently has $42.00 price target on the asset manager’s stock.
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, BidaskClub lowered shares of Cohen & Steers from a hold rating to a sell rating in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $44.33.
Shares of Cohen & Steers (NYSE:CNS) opened at 38.35 on Monday. Cohen & Steers has a 1-year low of $33.16 and a 1-year high of $43.22. The company has a 50-day moving average of $38.79 and a 200-day moving average of $39.53. The firm has a market capitalization of $1.78 billion, a PE ratio of 18.63 and a beta of 1.55.
Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Wednesday, July 19th. The asset manager reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $92.80 million for the quarter, compared to analyst estimates of $92.52 million. Cohen & Steers had a net margin of 26.34% and a return on equity of 33.17%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 earnings per share. Equities research analysts predict that Cohen & Steers will post $2.01 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, September 1st were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.12 annualized dividend and a yield of 2.92%. Cohen & Steers’s dividend payout ratio is currently 54.37%.
In other Cohen & Steers news, insider John Todd Glickson sold 6,700 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $39.72, for a total value of $266,124.00. Following the transaction, the insider now directly owns 36,738 shares in the company, valued at $1,459,233.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 52.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC boosted its holdings in shares of Cohen & Steers by 3.6% in the first quarter. Teachers Advisors LLC now owns 41,092 shares of the asset manager’s stock valued at $1,642,000 after acquiring an additional 1,419 shares during the period. Synovus Financial Corp boosted its holdings in shares of Cohen & Steers by 24.7% in the second quarter. Synovus Financial Corp now owns 25,024 shares of the asset manager’s stock valued at $1,012,000 after acquiring an additional 4,961 shares during the period. Trexquant Investment LP acquired a new stake in shares of Cohen & Steers in the first quarter valued at approximately $527,000. Prudential Financial Inc. acquired a new stake in shares of Cohen & Steers in the first quarter valued at approximately $205,000. Finally, Swiss National Bank boosted its holdings in shares of Cohen & Steers by 3.3% in the first quarter. Swiss National Bank now owns 34,200 shares of the asset manager’s stock valued at $1,367,000 after acquiring an additional 1,100 shares during the period. 45.36% of the stock is owned by institutional investors and hedge funds.
Cohen & Steers Company Profile
Cohen & Steers, Inc (CNS) 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.
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