Cohen & Steers Inc $CNS Stock: ProShare Advisors LLC Raises Holdings

ProShare Advisors LLC lifted its position in Cohen & Steers Inc (NYSE:CNS) by 37.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 126,251 shares of the asset manager’s stock after purchasing an additional 34,512 shares during the quarter. ProShare Advisors LLC owned 0.25% of Cohen & Steers worth $9,230,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in Cohen & Steers during the 2nd quarter valued at about $343,390,000. Dimensional Fund Advisors LP boosted its position in Cohen & Steers by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,174,579 shares of the asset manager’s stock valued at $73,467,000 after buying an additional 50,580 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Cohen & Steers by 582.5% in the third quarter. Assenagon Asset Management S.A. now owns 450,099 shares of the asset manager’s stock valued at $32,907,000 after acquiring an additional 384,155 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Cohen & Steers in the second quarter worth about $32,514,000. Finally, Gamco Investors INC. ET AL increased its position in Cohen & Steers by 3.3% in the first quarter. Gamco Investors INC. ET AL now owns 303,095 shares of the asset manager’s stock worth $18,959,000 after purchasing an additional 9,745 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

Cohen & Steers Stock Performance

Shares of Cohen & Steers stock opened at $73.17 on Wednesday. The firm has a fifty day moving average of $73.94 and a two-hundred day moving average of $72.09. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 3.17 and a beta of 1.19. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $86.56.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, October 15th. The asset manager reported $0.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.89. Cohen & Steers had a return on equity of 26.90% and a net margin of 28.16%. The company had revenue of $156.41 million for the quarter, compared to the consensus estimate of $155.12 million. During the same quarter in the prior year, the business posted $0.81 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that Cohen & Steers Inc will post 3.48 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be issued a dividend of $0.67 per share. The ex-dividend date is Monday, November 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. Cohen & Steers’s payout ratio is currently 82.21%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CNS shares. Evercore reissued an “outperform” rating and set a $88.00 price objective on shares of Cohen & Steers in a report on Monday, August 10th. Weiss Ratings lowered shares of Cohen & Steers from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Zacks Research cut shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.00.

About Cohen & Steers

Cohen & Steers, Inc is a global investment management company specializing in real assets and alternative income. The firm manages investment strategies focused on real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented assets.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios and private-market strategies. Cohen & Steers serves institutional investors, financial intermediaries and individual investors through a range of publicly traded and privately held investment vehicles.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and serves clients in North America, Europe and Asia.