Cohen & Steers (NYSE:CNS) Given New $78.00 Price Target at Evercore ISI

Cohen & Steers (NYSE:CNS) had its target price decreased by Evercore ISI from $94.00 to $78.00 in a report released on Friday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the asset manager’s stock.

Cohen & Steers Price Performance

CNS opened at $73.40 on Friday. The company has a market capitalization of $3.74 billion, a PE ratio of 24.71 and a beta of 1.46. Cohen & Steers has a fifty-two week low of $64.13 and a fifty-two week high of $110.67. The business has a 50-day moving average of $81.67 and a 200-day moving average of $91.09.

Cohen & Steers (NYSE:CNS) last posted its earnings results on Wednesday, January 22nd. The asset manager reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02). Cohen & Steers had a net margin of 29.24% and a return on equity of 33.13%.

Cohen & Steers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, March 3rd were given a $0.62 dividend. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Monday, March 3rd. Cohen & Steers’s payout ratio is currently 83.50%.

Institutional Investors Weigh In On Cohen & Steers

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Cohen & Steers by 19.5% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the asset manager’s stock valued at $67,000 after acquiring an additional 119 shares during the period. Monument Capital Management increased its position in shares of Cohen & Steers by 6.6% during the fourth quarter. Monument Capital Management now owns 2,998 shares of the asset manager’s stock valued at $277,000 after purchasing an additional 186 shares during the period. MML Investors Services LLC raised its stake in shares of Cohen & Steers by 4.8% in the third quarter. MML Investors Services LLC now owns 5,045 shares of the asset manager’s stock valued at $484,000 after purchasing an additional 229 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Cohen & Steers by 4.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,364 shares of the asset manager’s stock worth $495,000 after purchasing an additional 230 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in Cohen & Steers by 0.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 26,353 shares of the asset manager’s stock worth $2,433,000 after buying an additional 245 shares in the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.

Cohen & Steers Company Profile

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.