Cohen & Steers (NYSE:CNS) Price Target Raised to $68.00

Cohen & Steers (NYSE:CNS) had its price target raised by Bank of America from $66.00 to $68.00 in a research note released on Thursday,Benzinga reports. They currently have an underperform rating on the asset manager’s stock.

Separately, Evercore ISI reduced their price target on shares of Cohen & Steers from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cohen & Steers presently has a consensus rating of “Hold” and an average target price of $82.33.

Cohen & Steers Stock Performance

Shares of NYSE CNS opened at $65.62 on Thursday. The stock’s 50-day simple moving average is $71.77 and its 200-day simple moving average is $75.07. The firm has a market capitalization of $3.35 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38. Cohen & Steers has a fifty-two week low of $64.29 and a fifty-two week high of $110.67.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings data on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Cohen & Steers had a return on equity of 29.95% and a net margin of 29.82%.The company had revenue of $135.32 million for the quarter, compared to analyst estimates of $134.59 million. During the same period in the previous year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were paid a dividend of $0.62 per share. The ex-dividend date was Monday, August 11th. This represents a $2.48 annualized dividend and a dividend yield of 3.8%. Cohen & Steers’s dividend payout ratio is 78.73%.

Institutional Trading of Cohen & Steers

A number of hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in shares of Cohen & Steers by 2.5% in the first quarter. Nisa Investment Advisors LLC now owns 6,684 shares of the asset manager’s stock valued at $536,000 after purchasing an additional 165 shares during the period. Hunter Perkins Capital Management LLC increased its stake in Cohen & Steers by 1.1% in the 1st quarter. Hunter Perkins Capital Management LLC now owns 16,469 shares of the asset manager’s stock valued at $1,322,000 after buying an additional 182 shares during the period. Thrivent Financial for Lutherans raised its position in Cohen & Steers by 0.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager’s stock worth $1,497,000 after buying an additional 185 shares during the last quarter. Covestor Ltd lifted its stake in shares of Cohen & Steers by 12.8% in the 1st quarter. Covestor Ltd now owns 1,678 shares of the asset manager’s stock worth $135,000 after acquiring an additional 191 shares during the period. Finally, Mendel Capital Management LLC boosted its holdings in shares of Cohen & Steers by 4.3% in the first quarter. Mendel Capital Management LLC now owns 4,775 shares of the asset manager’s stock valued at $383,000 after acquiring an additional 196 shares in the last quarter. 51.47% of the stock is owned by institutional investors and hedge funds.

About Cohen & Steers

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.