Cohen & Steers (NYSE:CNS) Trading Down 4.7% - What's Next?

Cohen & Steers Inc (NYSE:CNS - Get Free Report)'s stock price was down 4.7% during trading on Monday . The stock traded as low as $74.01 and last traded at $74.41. Approximately 55,637 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 199,514 shares. The stock had previously closed at $78.11.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CNS shares. Evercore ISI reduced their price objective on Cohen & Steers from $94.00 to $78.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Bank of America initiated coverage on Cohen & Steers in a research note on Monday. They issued an "underperform" rating and a $67.00 target price for the company.

Cohen & Steers Stock Down 4.3%

The firm has a 50-day moving average of $77.20 and a two-hundred day moving average of $82.19. The company has a market capitalization of $3.81 billion, a PE ratio of 24.42 and a beta of 1.35.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The asset manager reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.01). Cohen & Steers had a return on equity of 30.46% and a net margin of 29.68%. The business had revenue of $133.79 million for the quarter, compared to analysts' expectations of $130.64 million. During the same quarter in the prior year, the company posted $0.68 earnings per share.

Cohen & Steers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were issued a $0.62 dividend. The ex-dividend date was Monday, May 12th. This represents a $2.48 annualized dividend and a dividend yield of 3.32%. Cohen & Steers's dividend payout ratio is presently 81.05%.

Institutional Trading of Cohen & Steers

Hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in Cohen & Steers in the fourth quarter valued at approximately $1,187,000. Illinois Municipal Retirement Fund boosted its stake in shares of Cohen & Steers by 7.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 14,757 shares of the asset manager's stock worth $1,363,000 after buying an additional 1,074 shares during the period. Versor Investments LP acquired a new position in Cohen & Steers in the 4th quarter valued at $357,000. Fisher Asset Management LLC raised its holdings in Cohen & Steers by 1,460.1% during the fourth quarter. Fisher Asset Management LLC now owns 99,974 shares of the asset manager's stock worth $9,232,000 after purchasing an additional 93,566 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cohen & Steers by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,004,433 shares of the asset manager's stock valued at $92,749,000 after buying an additional 52,846 shares during the period. 51.47% of the stock is currently owned by institutional investors and hedge funds.

Cohen & Steers Company 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.

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