Cohen & Steers Inc. (CNS) Downgraded by Zacks Investment Research
Cohen & Steers Inc. (NYSE:CNS) was downgraded by Zacks Investment Research from a “buy” 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 initiated coverage on Cohen & Steers in a research report on Thursday, July 14th. They set a “neutral” rating and a $42.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.25.
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Cohen & Steers (NYSE:CNS) traded down 2.63% during mid-day trading on Tuesday, hitting $39.62. The company had a trading volume of 183,175 shares. The company’s 50 day moving average price is $42.29 and its 200-day moving average price is $40.78. Cohen & Steers has a one year low of $25.84 and a one year high of $43.83. The company has a market cap of $1.82 billion, a PE ratio of 26.92 and a beta of 1.12.
Cohen & Steers (NYSE:CNS) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.03. Cohen & Steers had a net margin of 20.12% and a return on equity of 30.80%. The company had revenue of $86.40 million for the quarter, compared to analyst estimates of $86.12 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Cohen & Steers will post $1.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Tuesday, August 30th. Cohen & Steers’s dividend payout ratio is presently 73.24%.
Several hedge funds have recently bought and sold shares of CNS. Aperio Group LLC increased its stake in Cohen & Steers by 1.6% in the first quarter. Aperio Group LLC now owns 7,546 shares of the company’s stock worth $294,000 after buying an additional 118 shares in the last quarter. American International Group Inc. increased its stake in Cohen & Steers by 1.3% in the second quarter. American International Group Inc. now owns 12,028 shares of the company’s stock worth $486,000 after buying an additional 154 shares in the last quarter. Metropolitan Life Insurance Co. NY increased 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 worth $588,000 after buying an additional 236 shares in the last quarter. Eagle Boston Investment Management Inc. increased its stake in Cohen & Steers by 1.1% in the second quarter. Eagle Boston Investment Management Inc. now owns 31,274 shares of the company’s stock worth $1,264,000 after buying an additional 349 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Cohen & Steers by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,862 shares of the company’s stock worth $116,000 after buying an additional 352 shares in the last quarter. 44.35% of the stock is currently owned by institutional investors.
About Cohen & Steers
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.
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