Cohen & Steers (NYSE:CNS) Stock Price Breaks Below 50-Day Moving Average – Here’s Why

Cohen & Steers Inc (NYSE:CNS) passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $73.01 and traded as low as $72.28. Cohen & Steers shares last traded at $72.7990, with a volume of 218,150 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CNS shares. Evercore reiterated an “outperform” rating and set a $88.00 target price on shares of Cohen & Steers in a research report on Monday, August 10th. Zacks Research downgraded shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Finally, Weiss Ratings lowered shares of Cohen & Steers from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cohen & Steers presently has a consensus rating of “Hold” and an average price target of $88.00.

Cohen & Steers Trading Down 1.2%

The company’s fifty day simple moving average is $73.01 and its 200 day simple moving average is $72.24. The stock has a market capitalization of $3.74 billion, a P/E ratio of 22.33, a P/E/G ratio of 3.70 and a beta of 1.19.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Thursday, October 15th. The asset manager reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89. Cohen & Steers had a net margin of 28.16% and a return on equity of 26.90%. The firm had revenue of $156.41 million for the quarter, compared to analysts’ expectations of $155.12 million. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Cohen & Steers Inc will post 3.49 earnings per share for the current year.

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, November 9th. Cohen & Steers’s payout ratio is presently 82.21%.

Hedge Funds Weigh In On Cohen & Steers

A number of institutional investors have recently added to or reduced their stakes in the business. GW&K Investment Management LLC boosted its position in shares of Cohen & Steers by 2.9% during the 3rd quarter. GW&K Investment Management LLC now owns 359,192 shares of the asset manager’s stock valued at $26,261,000 after acquiring an additional 10,248 shares during the last quarter. Taylor Hoffman Capital Management LLC grew its holdings in shares of Cohen & Steers by 2.8% during the third quarter. Taylor Hoffman Capital Management LLC now owns 73,890 shares of the asset manager’s stock worth $5,402,000 after purchasing an additional 2,020 shares in the last quarter. Focus Advisor Solutions LLC purchased a new position in shares of Cohen & Steers during the third quarter worth about $222,000. Royce & Associates LP increased its position in shares of Cohen & Steers by 1.5% in the third quarter. Royce & Associates LP now owns 28,720 shares of the asset manager’s stock worth $2,100,000 after purchasing an additional 412 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Cohen & Steers by 16.0% in the third quarter. Fifth Third Bancorp now owns 1,252 shares of the asset manager’s stock worth $92,000 after purchasing an additional 173 shares during the last quarter. 51.47% of the stock is currently owned by institutional investors.

About Cohen & Steers

Cohen & Steers, Inc. is a global investment manager specializing in real assets and alternative income. The company manages investment strategies focused on publicly traded real estate securities, infrastructure, natural resources and preferred securities, along with related multi-asset strategies. Founded in 1986 by Martin Cohen and Robert Steers, the firm has built its business around specialized investment management. Its offerings include mutual funds, exchange-traded funds, closed-end funds and separately managed accounts for individual and institutional investors.