Zacks Investment Research upgraded shares of Cohen & Steers (NYSE:CNS) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday, January 10th. The firm currently has $55.00 target price on the asset manager’s stock.
According to Zacks, “Cohen & Steers, Inc. is a leading manager of income-oriented equity portfolios and specializes in common and preferred stocks of REITs and utilities, as well as other preferred securities. Based in New York City, the firm serves individual and institutional investors through a wide range of open-end funds, closed-end funds and separate accounts. “
Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods restated a hold rating and set a $49.00 price objective on shares of Cohen & Steers in a research note on Friday, December 22nd. Credit Suisse Group raised their price objective on Cohen & Steers from $41.00 to $43.00 and gave the company a neutral rating in a research note on Friday, October 20th. Finally, Bank of America raised their price objective on Cohen & Steers from $35.00 to $38.00 and gave the company an underperform rating in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $47.50.
Cohen & Steers (NYSE:CNS) last announced its earnings results on Wednesday, October 18th. The asset manager reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $96.40 million for the quarter, compared to the consensus estimate of $95.76 million. Cohen & Steers had a return on equity of 32.82% and a net margin of 26.53%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. research analysts forecast that Cohen & Steers will post 2.05 EPS for the current fiscal year.
In other Cohen & Steers news, Director Peter L. Rhein sold 4,729 shares of Cohen & Steers stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $44.60, for a total transaction of $210,913.40. Following the sale, the director now owns 26,271 shares of the company’s stock, valued at approximately $1,171,686.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 52.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Cohen & Steers by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,425 shares of the asset manager’s stock worth $25,963,000 after acquiring an additional 75,497 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Cohen & Steers by 6.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 119,775 shares of the asset manager’s stock worth $4,856,000 after acquiring an additional 7,551 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Cohen & Steers by 8.3% in the 3rd quarter. Gabelli Funds LLC now owns 205,600 shares of the asset manager’s stock worth $8,119,000 after acquiring an additional 15,771 shares during the last quarter. New Amsterdam Partners LLC NY acquired a new position in shares of Cohen & Steers in the 3rd quarter worth $6,033,000. Finally, Stifel Financial Corp acquired a new position in shares of Cohen & Steers in the 2nd quarter worth $687,000. 44.47% of the stock is currently owned by institutional investors.
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Cohen & Steers Company Profile
Cohen & Steers, Inc (CNS) is a holding company. The Company is an investment manager with a focus on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The Company serves institutional and individual investors.
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