Cohen & Steers (NYSE:CNS) Price Target Raised to $77.00 at Evercore ISI

Cohen & Steers (NYSE:CNS) had its price objective boosted by Evercore ISI from $74.00 to $77.00 in a research note issued to investors on Monday,Benzinga reports. Evercore ISI currently has an outperform rating on the asset manager’s stock.

A number of other equities analysts also recently weighed in on CNS. Bank of America boosted their target price on shares of Cohen & Steers from $66.00 to $68.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Cohen & Steers in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.50.

Cohen & Steers Price Performance

Cohen & Steers stock opened at $70.64 on Monday. The business has a 50 day simple moving average of $70.30 and a 200 day simple moving average of $74.08. Cohen & Steers has a one year low of $64.29 and a one year high of $108.76. The company has a market capitalization of $3.60 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.17 and a beta of 1.38.

Cohen & Steers (NYSE:CNS) last announced its earnings results on Thursday, October 16th. The asset manager reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Cohen & Steers had a return on equity of 29.92% and a net margin of 29.73%.The company had revenue of $140.94 million during the quarter, compared to analyst estimates of $138.84 million. During the same period last year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were given a dividend of $0.62 per share. The ex-dividend date was Monday, August 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.5%. Cohen & Steers’s payout ratio is presently 77.74%.

Institutional Investors Weigh In On Cohen & Steers

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Inspire Investing LLC raised its position in shares of Cohen & Steers by 33.5% during the third quarter. Inspire Investing LLC now owns 6,936 shares of the asset manager’s stock worth $455,000 after acquiring an additional 1,741 shares during the last quarter. Hunter Perkins Capital Management LLC raised its position in shares of Cohen & Steers by 8.1% during the third quarter. Hunter Perkins Capital Management LLC now owns 13,332 shares of the asset manager’s stock worth $875,000 after acquiring an additional 1,003 shares during the last quarter. Congress Asset Management Co. raised its position in shares of Cohen & Steers by 1.6% during the third quarter. Congress Asset Management Co. now owns 644,560 shares of the asset manager’s stock worth $42,290,000 after acquiring an additional 9,942 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Cohen & Steers by 18.2% during the second quarter. Osaic Holdings Inc. now owns 5,739 shares of the asset manager’s stock worth $433,000 after purchasing an additional 884 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Cohen & Steers by 0.9% during the second quarter. Thrivent Financial for Lutherans now owns 19,867 shares of the asset manager’s stock worth $1,497,000 after purchasing an additional 185 shares during the period. Institutional investors own 51.47% of the company’s stock.

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.