Cohen & Steers (NYSE:CNS) Given New $68.00 Price Target at Bank of America

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

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

Cohen & Steers Stock Up 1.0%

Shares of CNS stock opened at $65.18 on Thursday. The firm has a market capitalization of $3.32 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.19 and a beta of 1.38. Cohen & Steers has a twelve month low of $64.29 and a twelve month high of $110.67. The stock’s fifty day simple moving average is $71.96 and its 200 day simple moving average is $75.19.

Cohen & Steers (NYSE:CNS) last issued its quarterly earnings data 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). The firm had revenue of $135.32 million for the quarter, compared to the consensus estimate of $134.59 million. Cohen & Steers had a return on equity of 29.95% and a net margin of 29.82%.The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS.

Cohen & Steers Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in shares of Cohen & Steers by 2.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,684 shares of the asset manager’s stock valued at $536,000 after purchasing an additional 165 shares during the period. Hunter Perkins Capital Management LLC lifted its stake in shares of Cohen & Steers by 1.1% in the 1st quarter. Hunter Perkins Capital Management LLC now owns 16,469 shares of the asset manager’s stock valued at $1,322,000 after purchasing an additional 182 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Cohen & Steers by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager’s stock valued at $1,497,000 after purchasing an additional 185 shares during the period. Covestor Ltd raised its stake in Cohen & Steers by 12.8% during the 1st quarter. Covestor Ltd now owns 1,678 shares of the asset manager’s stock worth $135,000 after buying an additional 191 shares during the period. Finally, Mendel Capital Management LLC raised its stake in Cohen & Steers by 4.3% during the 1st quarter. Mendel Capital Management LLC now owns 4,775 shares of the asset manager’s stock worth $383,000 after buying an additional 196 shares during the period. 51.47% of the stock is owned by institutional investors and hedge funds.

About Cohen & Steers

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.