Cohen & Steers (NYSE:CNS) Announces Quarterly Earnings Results

Cohen & Steers (NYSE:CNS) issued its quarterly earnings data on Thursday. The asset manager reported $0.89 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.89, FiscalAI reports. The firm had revenue of $156.41 million for the quarter, compared to analyst estimates of $155.12 million. Cohen & Steers had a return on equity of 27.41% and a net margin of 28.82%.

Cohen & Steers Price Performance

CNS traded up $3.17 on Thursday, hitting $69.56. The company had a trading volume of 580,858 shares, compared to its average volume of 314,817. The stock has a fifty day simple moving average of $77.24 and a 200-day simple moving average of $74.60. The firm has a market capitalization of $3.58 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.69 and a beta of 1.22. Cohen & Steers has a 52-week low of $58.39 and a 52-week high of $86.56.

Cohen & Steers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were issued a $0.67 dividend. The ex-dividend date was Monday, August 10th. This represents a $2.68 annualized dividend and a yield of 3.9%. Cohen & Steers’s dividend payout ratio (DPR) is 82.21%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CNS shares. Weiss Ratings upgraded Cohen & Steers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Evercore reiterated an “outperform” rating and issued a $88.00 price target on shares of Cohen & Steers in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Insiders Place Their Bets

In other Cohen & Steers news, CAO Elena Dulik sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $83.16, for a total transaction of $91,476.00. Following the transaction, the chief accounting officer owned 22,146 shares in the company, valued at approximately $1,841,661.36. This represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 45.40% of the company’s stock.

About Cohen & Steers

Cohen & Steers, Inc is a global investment management company specializing in listed real assets and alternative income. The firm manages portfolios focused on areas such as real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented investments.

Its investment solutions are offered through mutual funds, exchange-traded funds, closed-end funds, institutional accounts and separately managed accounts. Cohen & Steers serves a range of clients, including institutional investors, financial advisers and individual investors, with strategies covering markets in the United States and internationally.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and maintains an international presence to support its global investment activities.