Cohen & Steers (NYSE:CNS) Hits New 52-Week High – Should You Buy?

Cohen & Steers Inc (NYSE:CNS) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $84.99 and last traded at $84.0380, with a volume of 18046 shares traded. The stock had previously closed at $82.27.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CNS. Evercore restated an “outperform” rating and set a $84.00 price target on shares of Cohen & Steers in a research note on Friday, July 10th. Weiss Ratings upgraded Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $76.00.

Cohen & Steers Price Performance

The firm has a market cap of $4.33 billion, a P/E ratio of 25.80, a PEG ratio of 2.08 and a beta of 1.21. The stock has a 50 day moving average of $77.31 and a 200 day moving average of $70.27.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.The business had revenue of $151.84 million during the quarter, compared to the consensus estimate of $149.45 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. On average, research analysts predict that Cohen & Steers Inc will post 3.49 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 10th. Cohen & Steers’s payout ratio is 82.21%.

Insider Activity at Cohen & Steers

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the sale, the executive vice president owned 28,682 shares in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the transaction, the chief accounting officer owned 22,146 shares in the company, valued at $1,841,661.36. This represents a 4.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 45.40% of the company’s stock.

Hedge Funds Weigh In On Cohen & Steers

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted 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 acquiring an additional 297 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Cohen & Steers in the 4th quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Cohen & Steers in the 4th quarter worth about $31,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Cohen & Steers by 110.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 299 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Cohen & Steers by 754.9% in the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock worth $38,000 after buying an additional 536 shares in the last quarter. 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).