Cohen & Steers (NYSE:CNS) Posts Earnings Results

Cohen & Steers (NYSE:CNS) announced its quarterly earnings data on Thursday. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01), FiscalAI reports. The company had revenue of $151.84 million for the quarter, compared to analysts’ expectations of $149.45 million. Cohen & Steers had a net margin of 27.47% and a return on equity of 27.60%.

Cohen & Steers Stock Up 2.3%

Shares of Cohen & Steers stock traded up $1.84 during trading hours on Thursday, hitting $80.71. The company’s stock had a trading volume of 425,120 shares, compared to its average volume of 332,057. The business has a fifty day moving average of $74.52 and a 200 day moving average of $68.65. Cohen & Steers has a 1-year low of $58.39 and a 1-year high of $81.17. The company has a market capitalization of $4.15 billion, a PE ratio of 26.64, a P/E/G ratio of 1.93 and a beta of 1.22.

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were given a $0.67 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. Cohen & Steers’s dividend payout ratio is presently 88.45%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNS. Evercore reaffirmed an “outperform” rating and issued a $84.00 target price on shares of Cohen & Steers in a research report on Friday, July 10th. Zacks Research raised Cohen & Steers from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Weiss Ratings upgraded Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.00.

Insider Buying and Selling at Cohen & Steers

In related news, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total transaction of $337,158.80. Following the transaction, the executive vice president owned 28,682 shares in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 45.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its stake in shares of Cohen & Steers by 15.1% in the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock valued at $185,790,000 after buying an additional 323,759 shares in the last quarter. State Street Corp lifted its position in Cohen & Steers by 1.0% during the 4th quarter. State Street Corp now owns 1,180,611 shares of the asset manager’s stock worth $74,119,000 after acquiring an additional 12,042 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cohen & Steers by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,988 shares of the asset manager’s stock worth $71,066,000 after acquiring an additional 30,884 shares during the period. Dimensional Fund Advisors LP grew its position in Cohen & Steers by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,123,999 shares of the asset manager’s stock valued at $70,566,000 after acquiring an additional 8,075 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Cohen & Steers by 215.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 770,149 shares of the asset manager’s stock valued at $48,350,000 after acquiring an additional 526,096 shares in the last quarter. 51.47% of the stock is owned by hedge funds and other institutional investors.

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).