Cohen & Steers (NYSE:CNS) Reaches New 1-Year High - Time to Buy?

Key Points

• Cohen & Steers hit a new 52-week high, trading as high as $80.56 and ending the session up about 1.8%.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $76.00, though Evercore reiterated an Outperform rating and a $84 target.
• The company recently reported Q1 earnings of $0.79 per share, missing estimates, while revenue came in above forecasts at $144.26 million; it also pays a quarterly dividend of $0.67 per share, yielding about 3.3%.

Cohen & Steers Inc (NYSE:CNS - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $80.56 and last traded at $80.6370, with a volume of 23316 shares trading hands. The stock had previously closed at $78.87.

Analysts Set New Price Targets

CNS has been the subject of several research analyst reports. Weiss Ratings upgraded Cohen & Steers from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, June 29th. Evercore reissued an "outperform" rating and set a $84.00 target price on shares of Cohen & Steers in a research report on Friday, July 10th. Finally, Zacks Research upgraded shares of Cohen & Steers from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $76.00.

Cohen & Steers Stock Up 1.8%

The firm has a market cap of $4.13 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. The business's 50 day moving average is $74.52 and its 200-day moving average is $68.65.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The asset manager reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.03). The company had revenue of $144.26 million for the quarter, compared to analyst estimates of $140.62 million. Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.Cohen & Steers's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 earnings per share. As a group, equities analysts predict that Cohen & Steers Inc will post 3.59 earnings per share for the current year.

Cohen & Steers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, May 11th. Cohen & Steers's dividend payout ratio (DPR) is 88.45%.

Insiders Place Their Bets

In other Cohen & Steers news, EVP Daniel Noonan sold 4,360 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total transaction of $337,158.80. Following the sale, the executive vice president owned 28,682 shares in the company, valued at $2,217,979.06. This represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 45.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cohen & Steers

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Cohen & Steers by 2.0% in the first quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager's stock worth $4,124,000 after purchasing an additional 1,003 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cohen & Steers by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager's stock worth $1,313,000 after purchasing an additional 716 shares during the period. Millennium Management LLC lifted its position in shares of Cohen & Steers by 485.1% in the 1st quarter. Millennium Management LLC now owns 93,175 shares of the asset manager's stock worth $7,477,000 after buying an additional 77,251 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Cohen & Steers in the 1st quarter worth about $172,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Cohen & Steers by 3.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager's stock valued at $5,838,000 after buying an additional 2,155 shares during the last quarter. 51.47% of the stock is owned by institutional investors and hedge funds.

About Cohen & Steers

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).

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