Cohen & Steers (NYSE:CNS) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Cohen & Steers Inc (NYSE:CNS)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $65.55 and traded as high as $71.31. Cohen & Steers shares last traded at $70.5450, with a volume of 216,436 shares changing hands.

Wall Street Analysts Forecast Growth

CNS has been the subject of a number of recent research reports. Zacks Research upgraded shares of Cohen & Steers from a “strong sell” rating to a “hold” rating in a research note on Friday, March 27th. Evercore set a $76.00 price objective on shares of Cohen & Steers in a research note on Monday, April 20th. Finally, Weiss Ratings upgraded shares of Cohen & Steers from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $72.00.

Cohen & Steers Stock Performance

The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 1.98 and a beta of 1.25. The business’s 50-day moving average is $67.49 and its 200-day moving average is $65.55.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Thursday, April 16th. The asset manager reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.03). The company had revenue of $144.26 million during the quarter, compared to analyst estimates of $140.62 million. Cohen & Steers had a net margin of 27.47% and a return on equity of 27.60%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. Equities research analysts expect that Cohen & Steers Inc will post 3.38 EPS for the current fiscal year.

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, May 11th. Cohen & Steers’s dividend payout ratio (DPR) is 88.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP boosted its stake in Cohen & Steers by 15.1% during the 2nd quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock worth $185,790,000 after acquiring an additional 323,759 shares during the last quarter. State Street Corp boosted its stake in Cohen & Steers by 1.0% during the 4th quarter. State Street Corp now owns 1,180,611 shares of the asset manager’s stock worth $74,119,000 after acquiring an additional 12,042 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cohen & Steers by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,174,579 shares of the asset manager’s stock worth $73,467,000 after acquiring an additional 50,580 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cohen & Steers by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,131,988 shares of the asset manager’s stock worth $71,066,000 after acquiring an additional 30,884 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Cohen & Steers by 215.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 770,149 shares of the asset manager’s stock worth $48,350,000 after buying an additional 526,096 shares during the period. Institutional investors own 51.47% of the company’s stock.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).