Cohen & Steers (CNS) Raised to “Strong-Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Cohen & Steers (NYSE:CNS) from a hold rating to a strong-buy rating in a research note published on Wednesday morning. They currently have $55.00 price objective on the asset manager’s stock.
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. “
CNS has been the subject of a number of other reports. Keefe, Bruyette & Woods reissued a hold rating and issued a $45.00 price target on shares of Cohen & Steers in a research report on Friday, October 20th. Credit Suisse Group boosted their price target on shares of Cohen & Steers from $41.00 to $43.00 and gave the company a neutral rating in a research report on Friday, October 20th. Finally, Bank of America boosted their price target on shares of Cohen & Steers from $35.00 to $38.00 and gave the company an underperform rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cohen & Steers has an average rating of Hold and a consensus price target of $47.50.
Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Wednesday, October 18th. The asset manager reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Cohen & Steers had a net margin of 26.53% and a return on equity of 32.82%. The firm had revenue of $96.40 million during the quarter, compared to analysts’ expectations of $95.76 million. During the same period in the previous year, the company earned $0.51 earnings per share. Cohen & Steers’s quarterly revenue was up 2.1% compared to the same quarter last year. analysts anticipate that Cohen & Steers will post 2.06 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Wednesday, November 22nd were given a $0.28 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $1.12 dividend on an annualized basis and a yield of 2.45%. Cohen & Steers’s dividend payout ratio (DPR) is presently 53.59%.
In related news, Director Peter L. Rhein sold 4,729 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $44.60, for a total value of $210,913.40. Following the completion of the sale, the director now directly owns 26,271 shares of the company’s stock, valued at $1,171,686.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 52.90% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Cohen & Steers by 545.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,617 shares of the asset manager’s stock valued at $147,000 after buying an additional 3,057 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Cohen & Steers in the second quarter valued at about $183,000. SG Americas Securities LLC raised its holdings in shares of Cohen & Steers by 85.7% in the second quarter. SG Americas Securities LLC now owns 4,806 shares of the asset manager’s stock valued at $195,000 after buying an additional 2,218 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Cohen & Steers in the third quarter valued at about $215,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Cohen & Steers in the third quarter valued at about $251,000. 44.47% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “Cohen & Steers (CNS) Raised to “Strong-Buy” at Zacks Investment Research” was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.watchlistnews.com/cohen-steers-cns-raised-to-strong-buy-at-zacks-investment-research/1803498.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cohen & Steers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cohen & Steers and related companies with MarketBeat.com's FREE daily email newsletter.