Cohen & Steers (NYSE:CNS) Releases Earnings Results, Meets Estimates

Cohen & Steers (NYSE:CNS) released its earnings results on Thursday. The asset manager reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81, FiscalAI reports. Cohen & Steers had a return on equity of 29.40% and a net margin of 29.73%.The firm had revenue of $143.79 million for the quarter, compared to the consensus estimate of $144.30 million. During the same quarter in the previous year, the company posted $0.78 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year.

Cohen & Steers Price Performance

NYSE:CNS opened at $68.83 on Friday. Cohen & Steers has a 1-year low of $58.39 and a 1-year high of $91.07. The company has a 50-day moving average of $64.00 and a 200 day moving average of $68.76. The firm has a market cap of $3.51 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.29.

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were paid a $0.62 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.48 dividend on an annualized basis and a yield of 3.6%. Cohen & Steers’s dividend payout ratio is 77.74%.

Insider Activity at Cohen & Steers

In other Cohen & Steers news, Director Martin Cohen purchased 12,708 shares of the stock in a transaction dated Thursday, November 20th. The stock was purchased at an average price of $60.83 per share, with a total value of $773,027.64. Following the transaction, the director owned 949,205 shares of the company’s stock, valued at approximately $57,740,140.15. This trade represents a 1.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have bought 100,000 shares of company stock valued at $5,982,368. Insiders own 47.60% of the company’s stock.

Hedge Funds Weigh In On Cohen & Steers

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. boosted its position in Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 297 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Cohen & Steers in the first quarter valued at about $172,000. Tower Research Capital LLC TRC lifted its position in shares of Cohen & Steers by 376.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the asset manager’s stock valued at $194,000 after buying an additional 2,035 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Cohen & Steers in the 2nd quarter valued at about $215,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Cohen & Steers in the 3rd quarter worth approximately $223,000. Institutional investors own 51.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Zacks Research cut shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday. Evercore ISI upped their price target on shares of Cohen & Steers from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, Bank of America lifted their price objective on shares of Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $72.50.

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).