Cohen & Steers Inc $CNS Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its position in shares of Cohen & Steers Inc (NYSE:CNS) by 11.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,277 shares of the asset manager’s stock after selling 1,524 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cohen & Steers were worth $850,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Cohen & Steers by 2.5% during the first quarter. Nisa Investment Advisors LLC now owns 6,684 shares of the asset manager’s stock worth $536,000 after purchasing an additional 165 shares during the period. Covestor Ltd boosted its holdings 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 valued at $135,000 after buying an additional 191 shares during the period. HighTower Advisors LLC grew its position in shares of Cohen & Steers by 7.9% during the 1st quarter. HighTower Advisors LLC now owns 2,689 shares of the asset manager’s stock valued at $216,000 after buying an additional 198 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Cohen & Steers by 1.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 23,629 shares of the asset manager’s stock valued at $1,780,000 after buying an additional 254 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Cohen & Steers by 345.3% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock worth $31,000 after acquiring an additional 297 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CNS shares. Bank of America lifted their target price on Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cohen & Steers in a research report on Wednesday, October 8th. Finally, Evercore ISI boosted their price objective on Cohen & Steers from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.50.

Cohen & Steers Trading Up 0.8%

NYSE CNS opened at $68.52 on Friday. The company has a 50-day moving average price of $68.72 and a two-hundred day moving average price of $73.67. Cohen & Steers Inc has a 52 week low of $64.29 and a 52 week high of $107.31. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.40.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Thursday, October 16th. The asset manager reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Cohen & Steers had a return on equity of 29.92% and a net margin of 29.73%.The company had revenue of $140.94 million for the quarter, compared to analysts’ expectations of $138.84 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 10th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, November 10th. Cohen & Steers’s payout ratio is 77.74%.

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.