Cohen & Steers (CNS) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Cohen & Steers (NYSE:CNS) from a hold rating to a strong-buy rating in a research note published on Wednesday. Zacks Investment Research currently has $55.00 price target 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. “

CNS has been the topic of several other reports. Keefe, Bruyette & Woods reissued a hold rating and set a $45.00 price objective on shares of Cohen & Steers in a report on Friday, October 20th. Credit Suisse Group lifted their price objective on shares of Cohen & Steers from $41.00 to $43.00 and gave the company a neutral rating in a report on Friday, October 20th. Finally, Bank of America lifted their price objective on shares of Cohen & Steers from $35.00 to $38.00 and gave the company an underperform rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $47.50.

Shares of Cohen & Steers (NYSE:CNS) traded down $0.35 during mid-day trading on Wednesday, reaching $45.45. 248,503 shares of the company traded hands, compared to its average volume of 206,840. The stock has a market capitalization of $2,100.00, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.65. Cohen & Steers has a 12 month low of $33.71 and a 12 month high of $47.83.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data on Wednesday, October 18th. The asset manager reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The company had revenue of $96.40 million for the quarter, compared to analyst estimates of $95.76 million. Cohen & Steers had a net margin of 26.53% and a return on equity of 32.82%. Cohen & Steers’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. equities 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 shares were sold at an average price of $44.60, for a total value of $210,913.40. Following the transaction, the director now directly owns 26,271 shares of the company’s stock, valued at $1,171,686.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 52.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNS. Janus Henderson Group PLC purchased a new position in Cohen & Steers in the second quarter worth $47,933,000. New Amsterdam Partners LLC NY purchased a new position in Cohen & Steers in the third quarter worth $6,033,000. FMR LLC purchased a new position in Cohen & Steers in the second quarter worth $4,354,000. Bank of New York Mellon Corp grew its holdings in Cohen & Steers by 11.3% in the third quarter. Bank of New York Mellon Corp now owns 797,113 shares of the asset manager’s stock worth $31,478,000 after purchasing an additional 80,914 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Cohen & Steers by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 640,425 shares of the asset manager’s stock worth $25,963,000 after purchasing an additional 75,497 shares during the last quarter. 44.47% of the stock is currently owned by institutional investors and hedge funds.

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About Cohen & Steers

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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