Cohen & Steers (NYSE:CNS) Price Target Raised to $68.00

Cohen & Steers (NYSE:CNS) had its price objective upped by Bank of America from $66.00 to $68.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an underperform rating on the asset manager’s stock.

Separately, Evercore ISI dropped their price target on Cohen & Steers from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $82.33.

Cohen & Steers Stock Performance

CNS stock opened at $65.18 on Thursday. The stock’s 50 day simple moving average is $71.96 and its 200 day simple moving average is $75.19. Cohen & Steers has a fifty-two week low of $64.29 and a fifty-two week high of $110.67. The company has a market cap of $3.32 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.38.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Cohen & Steers had a return on equity of 29.95% and a net margin of 29.82%.The firm had revenue of $135.32 million for the quarter, compared to analyst estimates of $134.59 million. During the same period last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were issued a $0.62 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.48 annualized dividend and a dividend yield of 3.8%. Cohen & Steers’s dividend payout ratio is currently 78.73%.

Hedge Funds Weigh In On Cohen & Steers

Several institutional investors have recently modified their holdings of CNS. Norges Bank bought a new position in shares of Cohen & Steers in the second quarter valued at approximately $27,880,000. Wasatch Advisors LP grew its holdings in shares of Cohen & Steers by 15.1% in the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager’s stock valued at $185,790,000 after acquiring an additional 323,759 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of Cohen & Steers by 24.3% in the first quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager’s stock valued at $52,676,000 after acquiring an additional 128,315 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Cohen & Steers by 107.4% in the second quarter. Balyasny Asset Management L.P. now owns 190,077 shares of the asset manager’s stock valued at $14,322,000 after acquiring an additional 98,431 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Cohen & Steers in the first quarter valued at approximately $7,222,000. 51.47% of the stock is owned by institutional investors.

Cohen & Steers Company Profile

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.