Cohen & Steers (NYSE:CNS) Issues Earnings Results

Cohen & Steers (NYSE:CNS) announced its quarterly earnings results on Thursday. The asset manager reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01), FiscalAI reports. The firm had revenue of $151.84 million for the quarter, compared to analyst estimates of $149.45 million. Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.

Cohen & Steers Stock Performance

Shares of CNS stock traded up $1.84 during trading hours on Thursday, reaching $80.71. The company had a trading volume of 425,090 shares, compared to its average volume of 332,057. The company has a market capitalization of $4.15 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. Cohen & Steers has a twelve month low of $58.39 and a twelve month high of $81.17. The stock’s fifty day simple moving average is $74.52 and its 200 day simple moving average is $68.65.

Cohen & Steers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were paid a $0.67 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Cohen & Steers’s dividend payout ratio (DPR) is 88.45%.

Insider Buying and Selling

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was 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 in the company, valued at $2,217,979.06. This represents a 13.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 45.40% of the company’s stock.

Institutional Trading of Cohen & Steers

Hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new position in shares of Cohen & Steers during the fourth quarter worth $28,000. Aster Capital Management DIFC Ltd purchased a new stake in Cohen & Steers during the 4th quarter worth $31,000. Geneos Wealth Management Inc. increased its stake in Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after buying an additional 297 shares during the period. Caitong International Asset Management Co. Ltd lifted 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 buying an additional 299 shares in the last quarter. Finally, Group One Trading LLC lifted its holdings in Cohen & Steers by 230.5% in the 4th quarter. Group One Trading LLC now owns 1,160 shares of the asset manager’s stock worth $73,000 after buying an additional 2,049 shares in the last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Wall Street Analysts Forecast Growth

CNS has been the topic of several research analyst reports. Weiss Ratings raised Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 29th. Evercore reissued an “outperform” rating and set a $84.00 target price on shares of Cohen & Steers in a research report on Friday, July 10th. Finally, Zacks Research upgraded shares of Cohen & Steers from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cohen & Steers presently has an average rating of “Hold” and a consensus target price of $76.00.

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).