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 target price on Cohen & Steers and gave the stock a hold rating in a research report on Sunday, September 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $44.25.
Cohen & Steers (NYSE:CNS) opened at 39.62 on Tuesday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 26.92 and a beta of 1.12. The firm’s 50-day moving average is $42.20 and its 200-day moving average is $40.77. Cohen & Steers has a 52-week low of $25.84 and a 52-week high of $43.83.
Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data 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 business had revenue of $86.40 million for the quarter, compared to analysts’ expectations of $86.12 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Cohen & Steers’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts predict that Cohen & Steers will post $1.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.04 dividend on an annualized basis and a yield of 2.62%. Cohen & Steers’s dividend payout ratio is currently 73.24%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank bought a new position in Cohen & Steers during the second quarter worth about $109,000. BNP Paribas Arbitrage SA raised its position in Cohen & Steers by 59.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,566 shares of the company’s stock worth $110,000 after buying an additional 956 shares in the last quarter. Teacher Retirement System of Texas raised its position in Cohen & Steers by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,862 shares of the company’s stock worth $116,000 after buying an additional 352 shares in the last quarter. Barclays PLC bought a new position in Cohen & Steers during the second quarter worth about $118,000. Finally, Societe Generale bought a new position in Cohen & Steers during the second quarter worth about $124,000. Institutional investors and hedge funds 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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