Cohen & Steers (NYSE:CNS) Hits New 12-Month High – Here’s Why
by Doug Wharley · The Cerbat GemCohen & Steers Inc (NYSE:CNS – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $86.56 and last traded at $85.0390, with a volume of 31975 shares changing hands. The stock had previously closed at $82.15.
Wall Street Analyst Weigh In
CNS has been the subject of a number of research reports. Weiss Ratings upgraded Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Evercore restated an “outperform” rating and issued a $88.00 target price on shares of Cohen & Steers in a research note on Monday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cohen & Steers has a consensus rating of “Hold” and an average target price of $78.00.
View Our Latest Analysis on CNS
Cohen & Steers Stock Performance
The company has a market capitalization of $4.37 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 2.08 and a beta of 1.21. The firm has a 50 day moving average price of $78.96 and a two-hundred day moving average price of $70.88.
Cohen & Steers (NYSE:CNS – Get Free Report) last posted its earnings results on Thursday, July 16th. The asset manager reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The company had revenue of $151.84 million for the quarter, compared to the consensus estimate of $149.45 million. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.Cohen & Steers’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 EPS. On average, equities analysts expect that Cohen & Steers Inc will post 3.49 earnings per share for the current year.
Cohen & Steers Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.2%. Cohen & Steers’s dividend payout ratio (DPR) is presently 82.21%.
Insider Buying and Selling at Cohen & Steers
In other news, CAO Elena Dulik sold 1,100 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $83.16, for a total value of $91,476.00. Following the sale, the chief accounting officer owned 22,146 shares in the company, valued at approximately $1,841,661.36. The trade was a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Noonan sold 4,360 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total transaction of $337,158.80. Following the completion of the sale, the executive vice president directly owned 28,682 shares in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 45.40% of the stock is currently owned by insiders.
Institutional Trading of Cohen & Steers
Several hedge funds have recently modified their holdings of CNS. Royal Bank of Canada boosted its holdings in shares of Cohen & Steers by 2.0% in the 1st quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager’s stock worth $4,124,000 after acquiring an additional 1,003 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 valued at $1,313,000 after purchasing an additional 716 shares in the last quarter. Millennium Management LLC increased its holdings in Cohen & Steers by 485.1% during the 1st quarter. Millennium Management LLC now owns 93,175 shares of the asset manager’s stock valued at $7,477,000 after purchasing an additional 77,251 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Cohen & Steers in the 1st quarter valued at $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Cohen & Steers by 3.1% in 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 purchasing an additional 2,155 shares during the last quarter. Institutional investors and hedge funds own 51.47% of the company’s stock.
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).