Cohen & Steers Inc. (CNS) Lowered to Hold at Zacks Investment Research
Cohen & Steers Inc. (NYSE:CNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research 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 objective on Cohen & Steers and gave the company a “hold” rating in a research note on Sunday, September 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $44.25.
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Shares of Cohen & Steers (NYSE:CNS) traded down 2.63% during mid-day trading on Tuesday, reaching $39.62. 183,175 shares of the company’s stock were exchanged. Cohen & Steers has a one year low of $25.84 and a one year high of $43.83. The firm has a market capitalization of $1.82 billion, a P/E ratio of 26.92 and a beta of 1.12. The stock has a 50-day moving average of $42.29 and a 200 day moving average of $40.78.
Cohen & Steers (NYSE:CNS) last issued its earnings results on Wednesday, July 20th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The firm earned $86.40 million during the quarter, compared to analysts’ expectations of $86.12 million. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. On average, analysts forecast that Cohen & Steers will post $1.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Tuesday, August 30th. Cohen & Steers’s payout ratio is 73.24%.
A number of hedge funds have recently made changes to their positions in CNS. BNP Paribas Arbitrage SA raised its stake in shares of Cohen & Steers by 59.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,566 shares of the company’s stock worth $110,000 after buying an additional 956 shares during the last quarter. Huntington National Bank acquired a new stake in shares of Cohen & Steers during the second quarter worth approximately $109,000. Teacher Retirement System of Texas raised its stake in shares of 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 during the last quarter. Barclays PLC acquired a new stake in shares of Cohen & Steers during the second quarter worth approximately $118,000. Finally, Societe Generale acquired a new stake in shares of Cohen & Steers during the second quarter worth approximately $124,000. 44.35% of the stock is owned by institutional investors.
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.
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