Adage Capital Partners GP L.L.C. Invests $7.22 Million in Cohen & Steers Inc $CNS

Key Points

• Adage Capital Partners GP L.L.C. acquired 90,000 shares of Cohen & Steers Inc, valued at approximately $7.22 million, increasing their ownership to about 0.18% of the company.
• Cohen & Steers reported a quarterly EPS of $0.73, missing analysts' consensus estimates of $0.75, while revenue grew by 11.8% year-over-year.
• The firm declared a quarterly dividend of $0.62 per share, resulting in an annualized yield of 3.4%, with a payout ratio of 78.73%.

Adage Capital Partners GP L.L.C. purchased a new position in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 90,000 shares of the asset manager's stock, valued at approximately $7,222,000. Adage Capital Partners GP L.L.C. owned approximately 0.18% of Cohen & Steers as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Cohen & Steers during the first quarter worth about $25,000. Fifth Third Bancorp raised its position in shares of Cohen & Steers by 101.9% during the first quarter. Fifth Third Bancorp now owns 654 shares of the asset manager's stock worth $52,000 after purchasing an additional 330 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cohen & Steers during the 4th quarter valued at about $60,000. GAMMA Investing LLC grew its position in shares of Cohen & Steers by 36.1% in the 1st quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock valued at $80,000 after purchasing an additional 263 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Cohen & Steers during the 1st quarter worth approximately $110,000. Institutional investors own 51.47% of the company's stock.

Cohen & Steers Stock Performance

Cohen & Steers stock traded down $0.34 during mid-day trading on Friday, reaching $71.52. The company's stock had a trading volume of 176,998 shares, compared to its average volume of 250,496. Cohen & Steers Inc has a 12 month low of $68.99 and a 12 month high of $110.67. The business's 50 day simple moving average is $74.33 and its 200 day simple moving average is $76.69. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 2.43 and a beta of 1.42.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. The company had revenue of $135.32 million during the quarter, compared to analyst estimates of $134.59 million. During the same period in the prior year, the firm posted $0.68 EPS. Cohen & Steers's revenue was up 11.8% compared to the same quarter last year.

Cohen & Steers Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.48 annualized dividend and a dividend yield of 3.5%. Cohen & Steers's dividend payout ratio (DPR) is currently 78.73%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI dropped their target price 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. Bank of America dropped their price objective on shares of Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating on the stock in a report on Monday, July 21st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cohen & Steers has a consensus rating of "Hold" and an average price target of $81.67.

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.