GAMMA Investing LLC Cuts Position in Cohen & Steers Inc $CNS

GAMMA Investing LLC lessened its holdings in Cohen & Steers Inc (NYSE:CNS) by 29.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 698 shares of the asset manager’s stock after selling 294 shares during the period. GAMMA Investing LLC’s holdings in Cohen & Steers were worth $53,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Cohen & Steers in the first quarter worth $25,000. Geneos Wealth Management Inc. lifted its stake in Cohen & Steers by 345.3% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 297 shares during the last quarter. Fifth Third Bancorp lifted its stake in Cohen & Steers by 101.9% in the first quarter. Fifth Third Bancorp now owns 654 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 330 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in Cohen & Steers in the first quarter valued at approximately $110,000. Finally, Covestor Ltd lifted its position in shares of Cohen & Steers by 12.8% during the 1st quarter. Covestor Ltd now owns 1,678 shares of the asset manager’s stock valued at $135,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 51.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cohen & Steers in a research report on Saturday, September 27th. Evercore ISI dropped their price objective on shares of Cohen & Steers from $79.00 to $77.00 and set an “outperform” rating on the stock in a report on Friday, September 5th. Finally, Bank of America upped their price objective on shares of Cohen & Steers from $66.00 to $68.00 and gave the company an “underperform” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.33.

Cohen & Steers Stock Performance

Shares of CNS stock opened at $65.62 on Friday. Cohen & Steers Inc has a 52-week low of $64.29 and a 52-week high of $110.67. The company has a market capitalization of $3.35 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38. The business’s fifty day moving average is $71.77 and its 200 day moving average is $75.07.

Cohen & Steers (NYSE:CNS) last released its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. The business had revenue of $135.32 million during the quarter, compared to analysts’ expectations of $134.59 million. During the same period in the previous year, the business earned $0.68 EPS. The business’s revenue was up 11.8% on a year-over-year basis.

Cohen & Steers Dividend Announcement

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

Cohen & Steers 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.