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

Cohen & Steers (NYSE:CNS) posted its quarterly earnings results on Thursday. The asset manager reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81, FiscalAI reports. The firm had revenue of $143.79 million for the quarter, compared to analysts’ expectations of $144.30 million. Cohen & Steers had a return on equity of 29.40% and a net margin of 29.73%.

Cohen & Steers Price Performance

Shares of CNS stock traded down $0.53 during trading hours on Thursday, reaching $68.83. The company had a trading volume of 380,511 shares, compared to its average volume of 357,815. Cohen & Steers has a 12 month low of $58.39 and a 12 month high of $91.07. The business has a fifty day simple moving average of $63.94 and a 200-day simple moving average of $68.76. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 2.04 and a beta of 1.29.

Cohen & Steers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were paid a $0.62 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.48 annualized dividend and a dividend yield of 3.6%. Cohen & Steers’s dividend payout ratio is 77.74%.

Insider Transactions at Cohen & Steers

In related news, Director Martin Cohen purchased 12,708 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average cost of $60.83 per share, with a total value of $773,027.64. Following the transaction, the director owned 949,205 shares of the company’s stock, valued at $57,740,140.15. This represents a 1.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 100,000 shares of company stock worth $5,982,368 in the last ninety days. Corporate insiders own 47.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new position in Cohen & Steers during the third quarter worth about $223,000. Morningstar Investment Management LLC bought a new position in shares of Cohen & Steers during the 3rd quarter worth approximately $804,000. Dark Forest Capital Management LP lifted its position in shares of Cohen & Steers by 139.2% during the 3rd quarter. Dark Forest Capital Management LP now owns 46,563 shares of the asset manager’s stock worth $3,055,000 after buying an additional 27,094 shares in the last quarter. Voleon Capital Management LP purchased a new position in shares of Cohen & Steers in the 3rd quarter worth approximately $652,000. Finally, Voloridge Investment Management LLC grew its holdings in shares of Cohen & Steers by 28.7% in the third quarter. Voloridge Investment Management LLC now owns 135,237 shares of the asset manager’s stock valued at $8,873,000 after acquiring an additional 30,197 shares in the last quarter. 51.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Zacks Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, October 8th. Evercore ISI raised their target price on Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, Bank of America upped their price target on Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $72.50.

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).