Zacks Research Downgrades Cohen & Steers (NYSE:CNS) to Strong Sell

Cohen & Steers (NYSE:CNS) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Bank of America upped their target price on shares of Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Cohen & Steers in a report on Wednesday, October 8th. Finally, Evercore ISI lifted their target price 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 research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $72.50.

Cohen & Steers Trading Up 1.2%

NYSE CNS opened at $70.46 on Thursday. The company has a market cap of $3.59 billion, a P/E ratio of 22.09, a PEG ratio of 2.19 and a beta of 1.29. The company has a fifty day simple moving average of $63.80 and a 200 day simple moving average of $68.99. Cohen & Steers has a 12-month low of $58.39 and a 12-month high of $91.07.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings data on Thursday, October 16th. The asset manager reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.03. The firm had revenue of $140.94 million for the quarter, compared to the consensus estimate of $138.84 million. Cohen & Steers had a net margin of 29.73% and a return on equity of 29.40%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share.

Insider Transactions at Cohen & Steers

In other Cohen & Steers news, Director Martin Cohen bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average cost of $59.69 per share, with a total value of $2,984,500.00. Following the transaction, the director directly owned 899,205 shares in the company, valued at $53,673,546.45. This trade represents a 5.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 100,000 shares of company stock valued at $5,982,368. 47.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cohen & Steers

Several institutional investors have recently added to or reduced their stakes in CNS. Thrivent Financial for Lutherans raised its position in Cohen & Steers by 0.9% in the second quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager’s stock worth $1,497,000 after acquiring an additional 185 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Cohen & Steers by 0.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 30,194 shares of the asset manager’s stock worth $2,276,000 after purchasing an additional 229 shares during the period. Amalgamated Bank lifted its stake in Cohen & Steers by 3.4% in the third quarter. Amalgamated Bank now owns 7,980 shares of the asset manager’s stock valued at $524,000 after purchasing an additional 265 shares during the last quarter. Covestor Ltd lifted its stake in Cohen & Steers by 17.3% in the third quarter. Covestor Ltd now owns 1,925 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 284 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Cohen & Steers by 345.3% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 297 shares during the period. Institutional investors own 51.47% of the company’s stock.

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).