Cohen & Steers (NYSE:CNS) Shares Gap Up – Should You Buy?

Cohen & Steers Inc (NYSE:CNS)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $70.20, but opened at $73.97. Cohen & Steers shares last traded at $73.3740, with a volume of 6,718 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CNS. Zacks Research raised Cohen & Steers from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Evercore set a $76.00 price target on Cohen & Steers in a research note on Monday, April 20th. Finally, Weiss Ratings raised Cohen & Steers from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.00.

Cohen & Steers Stock Up 0.8%

The stock has a market cap of $3.81 billion, a PE ratio of 24.45, a P/E/G ratio of 2.00 and a beta of 1.25. The stock has a 50-day moving average of $68.01 and a 200 day moving average of $65.68.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, April 16th. The asset manager reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.The company had revenue of $144.26 million for the quarter, compared to analysts’ expectations of $140.62 million. During the same quarter in the previous year, the business posted $0.75 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts forecast that Cohen & Steers Inc will post 3.38 EPS for the current fiscal year.

Cohen & Steers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.67 per share. The ex-dividend date was Monday, May 11th. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. Cohen & Steers’s dividend payout ratio (DPR) is presently 88.45%.

Hedge Funds Weigh In On Cohen & Steers

A number of institutional investors have recently added to or reduced their stakes in CNS. Geneos Wealth Management Inc. increased its holdings in shares of Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after buying an additional 297 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Cohen & Steers during the 4th quarter worth approximately $28,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Cohen & Steers during the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Cohen & Steers by 110.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock worth $36,000 after buying an additional 299 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in shares of Cohen & Steers by 754.9% during the 4th quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock worth $38,000 after buying an additional 536 shares during the last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.

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).