Cohen & Steers (NYSE:CNS) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Cohen & Steers (NYSE:CNS – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the asset manager’s stock.

Cohen & Steers Stock Performance

Shares of CNS opened at $63.29 on Thursday. Cohen & Steers has a 52 week low of $52.34 and a 52 week high of $88.21. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 18.24 and a beta of 1.36. The stock has a fifty day moving average of $71.70 and a 200-day moving average of $67.31.

Cohen & Steers (NYSE:CNS – Get Rating) last issued its earnings results on Wednesday, January 25th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). Cohen & Steers had a return on equity of 60.65% and a net margin of 30.17%. The firm had revenue of $125.34 million during the quarter, compared to analyst estimates of $120.45 million. During the same period in the previous year, the company earned $1.24 EPS. Cohen & Steers’s revenue for the quarter was down 21.5% on a year-over-year basis.

Cohen & Steers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 16th. Shareholders of record on Monday, March 6th were given a $0.57 dividend. This is a boost from Cohen & Steers’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Friday, March 3rd. Cohen & Steers’s dividend payout ratio is 65.71%.

Hedge Funds Weigh In On Cohen & Steers

Hedge funds have recently modified their holdings of the business. Assetmark Inc. increased its holdings in Cohen & Steers by 25.1% in the fourth quarter. Assetmark Inc. now owns 747 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 150 shares during the period. Van ECK Associates Corp grew its position in shares of Cohen & Steers by 67.0% in the 3rd quarter. Van ECK Associates Corp now owns 481 shares of the asset manager’s stock valued at $30,000 after buying an additional 193 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Cohen & Steers by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 13,334 shares of the asset manager’s stock valued at $861,000 after buying an additional 198 shares during the period. Eagle Bay Advisors LLC raised its position in shares of Cohen & Steers by 24.9% during the third quarter. Eagle Bay Advisors LLC now owns 1,084 shares of the asset manager’s stock worth $69,000 after acquiring an additional 216 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Cohen & Steers by 3.8% in the fourth quarter. Arizona State Retirement System now owns 7,557 shares of the asset manager’s stock worth $488,000 after acquiring an additional 280 shares during the period. Institutional investors and hedge funds own 47.37% of the company’s stock.

Cohen & Steers Company Profile

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Cohen & Steers, Inc is a holding company which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.