Cohen & Steers (NYSE:CNS) Sets New 1-Year High – Here’s What Happened

Cohen & Steers Inc (NYSE:CNS) reached a new 52-week high on Monday . The company traded as high as $84.99 and last traded at $84.0380, with a volume of 18046 shares trading hands. The stock had previously closed at $82.27.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore reissued an “outperform” rating and issued a $84.00 price objective on shares of Cohen & Steers in a report on Friday, July 10th. Weiss Ratings upgraded Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.00.

Cohen & Steers Stock Performance

The firm’s 50 day moving average is $76.80 and its 200-day moving average is $70.04. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 2.03 and a beta of 1.21.

Cohen & Steers (NYSE:CNS) last released its quarterly 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). Cohen & Steers had a net margin of 28.82% and a return on equity of 28.03%. The firm had revenue of $151.84 million for the quarter, compared to analyst estimates of $149.45 million. During the same quarter in the prior year, the business posted $0.73 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Cohen & Steers Inc will post 3.49 earnings per share for the current year.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, August 10th. Cohen & Steers’s dividend payout ratio is presently 82.21%.

Insider Transactions at Cohen & Steers

In other news, CAO Elena Dulik sold 1,100 shares of the firm’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the sale, the chief accounting officer directly owned 22,146 shares in the company, valued at $1,841,661.36. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Noonan sold 4,360 shares of Cohen & Steers stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total value of $337,158.80. Following the completion of the transaction, the executive vice president owned 28,682 shares of the company’s stock, valued at approximately $2,217,979.06. This represents a 13.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 45.40% of the stock is owned by company insiders.

Institutional Trading of Cohen & Steers

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in shares of Cohen & Steers during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. grew its stake in Cohen & Steers by 345.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 297 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Cohen & Steers in the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd increased its holdings in Cohen & Steers by 110.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager’s stock worth $36,000 after acquiring an additional 299 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Cohen & Steers by 754.9% during the fourth quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager’s stock worth $38,000 after acquiring an additional 536 shares during the period. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

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).