Cohen & Steers (NYSE:CNS) Shares Gap Down – What’s Next?

Cohen & Steers Inc (NYSE:CNS) shares gapped down before the market opened on Monday . The stock had previously closed at $68.78, but opened at $65.93. Cohen & Steers shares last traded at $65.67, with a volume of 6,069 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CNS shares. Evercore ISI upped their price objective on Cohen & Steers from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Zacks Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Bank of America increased 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $72.50.

Cohen & Steers Price Performance

The stock has a market cap of $3.33 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.29. The business has a 50 day moving average price of $64.03 and a two-hundred day moving average price of $68.57.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, January 22nd. The asset manager reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. The company had revenue of $143.79 million during the quarter, compared to analyst estimates of $144.30 million. Cohen & Steers had a net margin of 27.55% and a return on equity of 29.37%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS.

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were issued a $0.62 dividend. The ex-dividend date was Monday, November 10th. This represents a $2.48 annualized dividend and a yield of 3.8%. Cohen & Steers’s dividend payout ratio (DPR) is 83.22%.

Insiders Place Their Bets

In related news, Director Martin Cohen purchased 12,708 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average price of $60.83 per share, for a total transaction of $773,027.64. Following the completion of the acquisition, the director directly owned 949,205 shares in the company, valued at approximately $57,740,140.15. The trade was a 1.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 100,000 shares of company stock valued at $5,982,368 in the last quarter. Insiders own 47.60% of the company’s stock.

Hedge Funds Weigh In On Cohen & Steers

Institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. grew its stake in shares of Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after acquiring an additional 297 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Cohen & Steers by 459.2% in the fourth quarter. Farther Finance Advisors LLC now owns 699 shares of the asset manager’s stock worth $44,000 after acquiring an additional 574 shares during the period. Tema Etfs LLC purchased a new stake in Cohen & Steers during the 4th quarter valued at $59,000. Covestor Ltd lifted its holdings in Cohen & Steers by 17.3% in the third quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock valued at $126,000 after acquiring an additional 284 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in shares of Cohen & Steers in the 1st quarter worth approximately $172,000. 51.47% of the stock is owned by institutional investors.

Cohen & Steers Company Profile

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).