Cohen & Steers (NYSE:CNS) Cut to Strong Sell at Zacks Research

Cohen & Steers (NYSE:CNS) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

CNS has been the topic of several other reports. Bank of America upped their target price on Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Cohen & Steers in a research note on Wednesday, October 8th. Finally, Evercore ISI increased their price objective on Cohen & Steers from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Cohen & Steers has an average rating of “Reduce” and an average target price of $72.50.

Cohen & Steers Stock Performance

Cohen & Steers stock opened at $70.46 on Thursday. Cohen & Steers has a twelve month low of $58.39 and a twelve month high of $91.07. The firm has a market cap of $3.59 billion, a PE ratio of 22.09, a P/E/G ratio of 2.19 and a beta of 1.29. The firm’s 50 day moving average price is $63.80 and its two-hundred day moving average price is $68.99.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, October 16th. The asset manager reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. Cohen & Steers had a net margin of 29.73% and a return on equity of 29.40%. The business had revenue of $140.94 million for the quarter, compared to analysts’ expectations of $138.84 million. During the same period in the previous year, the company posted $0.77 EPS. Cohen & Steers’s revenue was up 6.4% on a year-over-year basis.

Insider Buying and Selling at Cohen & Steers

In related news, Director Martin Cohen bought 50,000 shares of Cohen & Steers stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average cost of $59.69 per share, for a total transaction of $2,984,500.00. Following the acquisition, the director owned 899,205 shares in the company, valued at $53,673,546.45. This trade represents a 5.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 100,000 shares of company stock valued at $5,982,368. 47.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cohen & Steers

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Cohen & Steers by 2.0% during the 1st quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager’s stock worth $4,124,000 after buying an additional 1,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 acquiring an additional 716 shares during the last quarter. Millennium Management LLC boosted its holdings in Cohen & Steers by 485.1% during the first quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock valued at $7,477,000 after acquiring an additional 77,251 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Cohen & Steers in the first quarter valued at about $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Cohen & Steers by 3.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager’s stock worth $5,838,000 after purchasing an additional 2,155 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).