Cohen & Steers (NYSE:CNS) Reaches New 12-Month High – Should You Buy?

Cohen & Steers Inc (NYSE:CNS) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $86.56 and last traded at $85.0390, with a volume of 31975 shares. The stock had previously closed at $82.15.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNS. Weiss Ratings upgraded Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Evercore reissued an “outperform” rating and set a $88.00 price objective on shares of Cohen & Steers in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cohen & Steers currently has a consensus rating of “Hold” and a consensus target price of $78.00.

Cohen & Steers Trading Up 3.6%

The business’s fifty day moving average price is $78.40 and its 200 day moving average price is $70.66. The company has a market capitalization of $4.37 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.06 and a beta of 1.21.

Cohen & Steers (NYSE:CNS) last issued its earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The company had revenue of $151.84 million during the quarter, compared to analyst estimates of $149.45 million. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. Equities research analysts anticipate that Cohen & Steers Inc will post 3.49 EPS for the current year.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, August 10th. Cohen & Steers’s payout ratio is currently 82.21%.

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total value of $337,158.80. Following the transaction, the executive vice president directly owned 28,682 shares in the company, valued at $2,217,979.06. The trade was a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the sale, the chief accounting officer directly owned 22,146 shares of the company’s stock, valued at approximately $1,841,661.36. The trade was a 4.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 45.40% of the company’s stock.

Institutional Trading of Cohen & Steers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Cohen & Steers in the second quarter valued at approximately $343,390,000. Goldman Sachs Group Inc. lifted its stake in shares of Cohen & Steers by 215.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 770,149 shares of the asset manager’s stock valued at $48,350,000 after purchasing an additional 526,096 shares during the period. Norges Bank bought a new position in shares of Cohen & Steers in the 4th quarter worth $30,232,000. Bank of New York Mellon Corp acquired a new stake in shares of Cohen & Steers during the second quarter worth $32,514,000. Finally, Millennium Management LLC increased its holdings in Cohen & Steers by 385.6% in the fourth quarter. Millennium Management LLC now owns 438,826 shares of the asset manager’s stock valued at $27,549,000 after purchasing an additional 348,452 shares during the last quarter. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Cohen & Steers Company Profile

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).