Cohen & Steers (NYSE:CNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
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. “
A number of other equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods lowered Cohen & Steers from a “market perform” rating to an “underperform” rating in a research note on Friday, January 26th. Gabelli lowered Cohen & Steers from a “buy” rating to a “hold” rating and set a $54.00 price target for the company. in a research note on Thursday, January 11th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $47.80.
Cohen & Steers (NYSE:CNS) last issued its quarterly earnings results on Wednesday, January 24th. The asset manager reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. Cohen & Steers had a return on equity of 33.83% and a net margin of 24.31%. The firm had revenue of $99.40 million during the quarter, compared to analyst estimates of $98.08 million. During the same period last year, the company earned $0.48 EPS. Cohen & Steers’s quarterly revenue was up 11.2% compared to the same quarter last year. research analysts anticipate that Cohen & Steers will post 2.57 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Cohen & Steers during the 1st quarter valued at $103,000. Huntington National Bank bought a new stake in Cohen & Steers during the 2nd quarter valued at $109,000. BNP Paribas Arbitrage SA raised its position in Cohen & Steers by 59.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,566 shares of the asset manager’s stock valued at $110,000 after purchasing an additional 956 shares in the last quarter. Teacher Retirement System of Texas raised its position in Cohen & Steers by 14.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 2,862 shares of the asset manager’s stock valued at $116,000 after purchasing an additional 352 shares in the last quarter. Finally, Societe Generale bought a new stake in Cohen & Steers during the 2nd quarter valued at $124,000. 47.40% of the stock is owned by institutional investors and hedge funds.
Cohen & Steers Company Profile
Cohen & Steers, Inc (CNS) 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.
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