Monument Capital Management Invests $274,000 in Cohen & Steers Inc $CNS

Monument Capital Management purchased a new position in shares of Cohen & Steers Inc (NYSE:CNS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,642 shares of the asset manager’s stock, valued at approximately $274,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Cohen & Steers during the first quarter worth about $25,000. Geneos Wealth Management Inc. grew its holdings in Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 297 shares during the period. Fifth Third Bancorp grew its holdings in Cohen & Steers by 101.9% in the first quarter. Fifth Third Bancorp now owns 654 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 330 shares during the period. GAMMA Investing LLC grew its holdings in Cohen & Steers by 36.1% in the first quarter. GAMMA Investing LLC now owns 992 shares of the asset manager’s stock valued at $80,000 after purchasing an additional 263 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in Cohen & Steers in the first quarter valued at approximately $110,000. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI lowered their target price on shares of Cohen & Steers from $77.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Cohen & Steers in a report on Wednesday. Finally, Bank of America boosted their target price on shares of Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $81.33.

Cohen & Steers Stock Down 0.5%

Shares of CNS stock opened at $66.14 on Friday. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 2.05 and a beta of 1.38. Cohen & Steers Inc has a fifty-two week low of $64.29 and a fifty-two week high of $110.67. The firm’s 50 day moving average price is $71.01 and its two-hundred day moving average price is $74.63.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The business had revenue of $135.32 million for the quarter, compared to analyst estimates of $134.59 million. Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share.

Cohen & Steers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were paid a dividend of $0.62 per share. The ex-dividend date was Monday, August 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.7%. Cohen & Steers’s dividend payout ratio (DPR) is currently 78.73%.

About Cohen & Steers

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.