Cohen & Steers (NYSE:CNS) Announces Quarterly Earnings Results, Meets Estimates

Cohen & Steers (NYSE:CNS) announced its quarterly earnings data on Thursday. The asset manager reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81, FiscalAI reports. Cohen & Steers had a return on equity of 29.40% and a net margin of 29.73%.The business had revenue of $143.79 million for the quarter, compared to the consensus estimate of $144.30 million.

Cohen & Steers Stock Down 0.8%

Cohen & Steers stock traded down $0.53 during midday trading on Thursday, reaching $68.83. The stock had a trading volume of 380,511 shares, compared to its average volume of 357,815. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 2.04 and a beta of 1.29. Cohen & Steers has a 52-week low of $58.39 and a 52-week high of $91.07. The company has a fifty day moving average of $63.94 and a 200 day moving average of $68.76.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, November 10th. Cohen & Steers’s dividend payout ratio is presently 77.74%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CNS shares. Zacks Research lowered Cohen & Steers from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Bank of America upped their price objective on Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Evercore ISI raised their target price on shares of Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $72.50.

Insider Activity at Cohen & Steers

In other Cohen & Steers news, Director Martin Cohen bought 50,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were purchased at an average price of $59.69 per share, with a total value of $2,984,500.00. Following the completion of the purchase, the director owned 899,205 shares in the company, valued at $53,673,546.45. This represents a 5.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased a total of 100,000 shares of company stock worth $5,982,368 over the last quarter. Corporate insiders own 47.60% of the company’s stock.

Hedge Funds Weigh In On Cohen & Steers

Large investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in Cohen & Steers by 2.0% in the first quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager’s stock worth $4,124,000 after purchasing an additional 1,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cohen & Steers by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager’s stock worth $1,313,000 after acquiring an additional 716 shares during the period. Millennium Management LLC increased its position in shares of Cohen & Steers by 485.1% during the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock worth $7,477,000 after acquiring an additional 77,251 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Cohen & Steers during the first quarter valued at approximately $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cohen & Steers by 3.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager’s stock valued at $5,838,000 after purchasing an additional 2,155 shares during the period. Hedge funds and other institutional investors own 51.47% of the company’s stock.

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).