Zacks Investment Research downgraded shares of Cohen & Steers (NYSE:CNS) from a hold rating to a sell rating in a research report released on Tuesday, April 10th.
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. “
CNS has been the subject of several other research reports. Keefe, Bruyette & Woods cut shares of Cohen & Steers from a market perform rating to an underperform rating in a research report on Friday, January 26th. Gabelli cut shares of Cohen & Steers from a buy rating to a hold rating and set a $54.00 target price for the company. in a research report on Thursday, January 11th. Finally, Credit Suisse Group set a $43.00 price target on shares of Cohen & Steers and gave the company a hold rating in a report on Thursday, April 5th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Cohen & Steers currently has an average rating of Hold and a consensus target price of $45.20.
CNS stock traded up $0.37 during trading on Tuesday, hitting $39.53. The company had a trading volume of 157,978 shares, compared to its average volume of 236,692. Cohen & Steers has a 12 month low of $36.29 and a 12 month high of $47.83. The stock has a market capitalization of $1,811.57, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30.
Cohen & Steers (NYSE:CNS) last issued its earnings results on Wednesday, January 24th. The asset manager reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $99.40 million during the quarter, compared to analysts’ expectations of $98.08 million. Cohen & Steers had a net margin of 24.31% and a return on equity of 33.83%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS. equities research analysts anticipate that Cohen & Steers will post 2.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th were issued a $0.33 dividend. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, March 7th. This represents a $1.32 annualized dividend and a dividend yield of 3.34%. Cohen & Steers’s payout ratio is 63.77%.
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in Cohen & Steers by 22.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 132,991 shares of the asset manager’s stock worth $5,252,000 after purchasing an additional 24,189 shares during the period. Legal & General Group Plc boosted its stake in Cohen & Steers by 72.2% in the 3rd quarter. Legal & General Group Plc now owns 10,060 shares of the asset manager’s stock worth $397,000 after purchasing an additional 4,219 shares during the period. JPMorgan Chase & Co. boosted its stake in Cohen & Steers by 51.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,434 shares of the asset manager’s stock worth $293,000 after purchasing an additional 2,534 shares during the period. Citadel Advisors LLC acquired a new position in Cohen & Steers in the 3rd quarter worth $215,000. Finally, Wells Fargo & Company MN boosted its stake in Cohen & Steers by 9.3% in the 3rd quarter. Wells Fargo & Company MN now owns 67,206 shares of the asset manager’s stock worth $2,654,000 after purchasing an additional 5,742 shares during the period. 47.39% of the stock is owned by institutional investors.
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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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