Cohen & Steers (NYSE:CNS) Hits New 12-Month High – Here’s Why

Cohen & Steers Inc (NYSE:CNS)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $79.01 and last traded at $78.60, with a volume of 60702 shares changing hands. The stock had previously closed at $76.14.

Analysts Set New Price Targets

CNS has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Cohen & Steers from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Evercore reiterated an “outperform” rating and issued a $82.00 target price on shares of Cohen & Steers in a report on Monday, June 8th. Finally, Zacks Research raised Cohen & Steers from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cohen & Steers presently has an average rating of “Hold” and an average target price of $75.00.

Cohen & Steers Price Performance

The business’s 50-day simple moving average is $72.48 and its two-hundred day simple moving average is $67.49. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 2.09 and a beta of 1.25.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings data on Thursday, April 16th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.03). Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.The business had revenue of $144.26 million during the quarter, compared to analyst estimates of $140.62 million. During the same period in the previous year, the company earned $0.75 EPS. Cohen & Steers’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Cohen & Steers Inc will post 3.47 EPS for the current year.

Cohen & Steers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.68 annualized dividend and a yield of 3.4%. Cohen & Steers’s payout ratio is 88.45%.

Insider Activity

In related news, EVP Daniel Noonan sold 4,360 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total value of $337,158.80. Following the transaction, the executive vice president owned 28,682 shares in the company, valued at approximately $2,217,979.06. The trade was a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 45.40% of the company’s stock.

Institutional Trading of Cohen & Steers

A number of hedge funds and other institutional investors have recently made changes to their positions in CNS. Navellier & Associates Inc. bought a new position in Cohen & Steers in the fourth quarter worth about $3,586,000. Tudor Investment Corp ET AL raised its stake in shares of Cohen & Steers by 156.0% during the third quarter. Tudor Investment Corp ET AL now owns 77,292 shares of the asset manager’s stock valued at $5,071,000 after purchasing an additional 47,096 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Cohen & Steers by 40.5% in the 4th quarter. Teacher Retirement System of Texas now owns 99,778 shares of the asset manager’s stock worth $6,264,000 after acquiring an additional 28,740 shares during the period. Hunter Perkins Capital Management LLC boosted its stake in Cohen & Steers by 91.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 25,579 shares of the asset manager’s stock valued at $1,606,000 after purchasing an additional 12,247 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Cohen & Steers by 12.5% during the 3rd quarter. Fisher Asset Management LLC now owns 111,334 shares of the asset manager’s stock valued at $7,305,000 after purchasing an additional 12,364 shares in the last quarter. Institutional investors 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).