Cohen & Steers Inc. (NYSE:CNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

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 price target on Cohen & Steers and gave the stock a “hold” rating in a research note on Sunday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.75.

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Cohen & Steers (NYSE:CNS) traded down 1.32% during mid-day trading on Tuesday, reaching $41.76. 60,169 shares of the company traded hands. The company’s 50 day moving average price is $42.34 and its 200 day moving average price is $39.97. The firm has a market capitalization of $1.92 billion, a P/E ratio of 28.37 and a beta of 1.30. Cohen & Steers has a 12-month low of $25.84 and a 12-month high of $43.83.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ 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 earned $86.40 million during the quarter, compared to the consensus estimate of $86.12 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts predict that Cohen & Steers will post $1.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.04 annualized dividend and a dividend yield of 2.49%. Cohen & Steers’s dividend payout ratio (DPR) is 73.24%.

A number of hedge funds have recently added to or reduced their stakes in the stock. KAMES CAPITAL plc bought a new stake in Cohen & Steers during the second quarter valued at $693,000. Schwab Charles Investment Management Inc. raised its stake in Cohen & Steers by 17.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 99,872 shares of the company’s stock valued at $4,039,000 after buying an additional 15,163 shares during the last quarter. Legal & General Group Plc raised its stake in Cohen & Steers by 20.5% in the second quarter. Legal & General Group Plc now owns 4,078 shares of the company’s stock valued at $162,000 after buying an additional 695 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Cohen & Steers by 1.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 14,543 shares of the company’s stock valued at $588,000 after buying an additional 236 shares during the last quarter. Finally, FDx Advisors Inc. raised its stake in Cohen & Steers by 113.7% in the second quarter. FDx Advisors Inc. now owns 27,227 shares of the company’s stock valued at $1,101,000 after buying an additional 14,488 shares during the last quarter. Institutional investors own 44.31% of the company’s stock.

Cohen & Steers Company Profile

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.

5 Day Chart for NYSE:CNS

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