Cohen & Steers (NYSE:CNS) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Cohen & Steers (NYSE:CNSGet Rating) from a buy rating to a hold rating in a research note released on Friday morning.

Cohen & Steers Stock Down 2.6 %

Shares of CNS opened at $64.99 on Friday. Cohen & Steers has a 12-month low of $52.34 and a 12-month high of $100.26. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 15.81 and a beta of 1.29. The stock’s 50-day moving average price is $63.97 and its 200 day moving average price is $69.03.

Cohen & Steers (NYSE:CNSGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The asset manager reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.02). Cohen & Steers had a net margin of 33.77% and a return on equity of 73.43%. The firm had revenue of $139.95 million for the quarter, compared to the consensus estimate of $139.54 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The company’s revenue was down 9.2% on a year-over-year basis.

Cohen & Steers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Monday, November 14th will be paid a $0.55 dividend. This is a positive change from Cohen & Steers’s previous quarterly dividend of $0.02. This represents a $2.20 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, November 11th. Cohen & Steers’s dividend payout ratio is currently 53.53%.

Institutional Investors Weigh In On Cohen & Steers

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its position in Cohen & Steers by 725.7% during the 1st quarter. Parallel Advisors LLC now owns 289 shares of the asset manager’s stock worth $25,000 after acquiring an additional 254 shares during the last quarter. Valley National Advisers Inc. bought a new stake in Cohen & Steers during the 1st quarter worth approximately $25,000. Signaturefd LLC grew its position in Cohen & Steers by 250.5% during the 1st quarter. Signaturefd LLC now owns 340 shares of the asset manager’s stock worth $29,000 after acquiring an additional 243 shares during the last quarter. Van ECK Associates Corp grew its position in Cohen & Steers by 67.0% during the 3rd quarter. Van ECK Associates Corp now owns 481 shares of the asset manager’s stock worth $30,000 after acquiring an additional 193 shares during the last quarter. Finally, Eagle Bay Advisors LLC grew its position in Cohen & Steers by 57.8% during the 2nd quarter. Eagle Bay Advisors LLC now owns 868 shares of the asset manager’s stock worth $55,000 after acquiring an additional 318 shares during the last quarter. 48.03% of the stock is currently owned by institutional investors.

About Cohen & Steers

(Get Rating)

Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.

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