Cohen & Steers Inc. (CNS) Lowered to Hold at Zacks Investment Research
Cohen & Steers Inc. (NYSE:CNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Separately, Credit Suisse Group AG set a $42.00 price objective on shares of Cohen & Steers and gave the company a “hold” rating in a research note on Sunday, September 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $44.25.
Shares of Cohen & Steers (NYSE:CNS) traded down 2.63% during mid-day trading on Tuesday, reaching $39.62. 183,175 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $42.29 and its 200 day moving average price is $40.78. Cohen & Steers has a 52-week low of $25.84 and a 52-week high of $43.83. The company has a market cap of $1.82 billion, a PE ratio of 26.92 and a beta of 1.12.
Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.03. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%. The firm had revenue of $86.40 million for the quarter, compared to the consensus estimate of $86.12 million. During the same quarter in the previous year, the business posted $0.45 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Cohen & Steers will post $1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were paid a $0.26 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $1.04 annualized dividend and a dividend yield of 2.62%. Cohen & Steers’s dividend payout ratio is currently 73.24%.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Cohen & Steers by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,525,776 shares of the company’s stock worth $61,702,000 after buying an additional 46,584 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Cohen & Steers by 3.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 584,132 shares of the company’s stock worth $22,734,000 after buying an additional 19,425 shares during the period. Renaissance Technologies LLC raised its stake in shares of Cohen & Steers by 6.0% in the first quarter. Renaissance Technologies LLC now owns 536,200 shares of the company’s stock worth $20,869,000 after buying an additional 30,300 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cohen & Steers by 41.8% in the second quarter. Dimensional Fund Advisors LP now owns 446,497 shares of the company’s stock worth $18,055,000 after buying an additional 131,703 shares during the period. Finally, Royce & Associates LP raised its stake in shares of Cohen & Steers by 17.5% in the first quarter. Royce & Associates LP now owns 335,337 shares of the company’s stock worth $13,051,000 after buying an additional 50,000 shares during the period. Institutional investors own 44.35% of the company’s stock.
About Cohen & Steers
Cohen & Steers, Inc 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 around the world.
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