Cohen & Steers (NYSE:CNS) Announces Quarterly Earnings Results

Cohen & Steers (NYSE:CNS) issued its earnings results on Thursday. The asset manager reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81, FiscalAI reports. Cohen & Steers had a return on equity of 29.37% and a net margin of 27.55%.The business had revenue of $143.79 million during the quarter, compared to analyst estimates of $144.30 million. During the same period in the previous year, the company posted $0.78 EPS. Cohen & Steers’s revenue was up 2.9% on a year-over-year basis.

Cohen & Steers Stock Performance

CNS stock opened at $65.92 on Friday. Cohen & Steers has a one year low of $58.39 and a one year high of $91.07. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 2.04 and a beta of 1.29. The firm has a 50-day simple moving average of $64.03 and a two-hundred day simple moving average of $68.69.

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Monday, November 10th were issued a $0.62 dividend. The ex-dividend date was Monday, November 10th. This represents a $2.48 dividend on an annualized basis and a yield of 3.8%. Cohen & Steers’s payout ratio is currently 83.22%.

Insider Activity

In other news, Director Martin Cohen acquired 50,000 shares of Cohen & Steers stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average price of $59.69 per share, for a total transaction of $2,984,500.00. Following the purchase, the director directly owned 899,205 shares in the company, valued at $53,673,546.45. The trade was a 5.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 100,000 shares of company stock valued at $5,982,368. 47.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Cohen & Steers

Several institutional investors have recently bought and sold shares of CNS. Royal Bank of Canada increased its position in shares of Cohen & Steers by 2.0% during the first quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager’s stock worth $4,124,000 after purchasing an additional 1,003 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cohen & Steers by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager’s stock worth $1,313,000 after buying an additional 716 shares during the last quarter. Millennium Management LLC grew its stake in Cohen & Steers by 485.1% during the 1st quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock worth $7,477,000 after buying an additional 77,251 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Cohen & Steers during the 1st quarter valued at about $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cohen & Steers by 3.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager’s stock valued at $5,838,000 after buying an additional 2,155 shares in the last quarter. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CNS. Evercore ISI raised their price target on Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a report on Wednesday. Zacks Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Finally, Bank of America upped their price target on shares of Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $72.50.

About Cohen & Steers

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).