Dimensional Fund Advisors LP Increases Stake in Cohen & Steers Inc $CNS

Key Points

• Dimensional Fund Advisors increased its Cohen & Steers stake by 4.5% in the first quarter, owning 1.17 million shares worth approximately $73.5 million. Institutional investors collectively hold 51.47% of CNS.
• Cohen & Steers reported quarterly revenue of $151.84 million, up 12.2% year over year and above estimates, while EPS of $0.85 narrowly missed consensus. The stock opened at $82.10, near its 52-week high of $84.93.
• The company declared a quarterly dividend of $0.67 per share, equivalent to $2.68 annually and a 3.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $76, below the current share price.

Dimensional Fund Advisors LP grew its holdings in shares of Cohen & Steers Inc (NYSE:CNS - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,174,579 shares of the asset manager's stock after purchasing an additional 50,580 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.29% of Cohen & Steers worth $73,467,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Kestra Advisory Services LLC acquired a new stake in shares of Cohen & Steers in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its position in Cohen & Steers by 345.3% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock worth $31,000 after acquiring an additional 297 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Cohen & Steers during the 4th quarter valued at about $31,000. Caitong International Asset Management Co. Ltd grew its stake in Cohen & Steers by 110.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager's stock valued at $36,000 after acquiring an additional 299 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in Cohen & Steers by 754.9% in the 4th quarter. Hantz Financial Services Inc. now owns 607 shares of the asset manager's stock valued at $38,000 after acquiring an additional 536 shares during the last quarter. Hedge funds and other institutional investors own 51.47% of the company's stock.

Cohen & Steers Stock Up 0.7%

NYSE CNS opened at $82.10 on Friday. Cohen & Steers Inc has a 52 week low of $58.39 and a 52 week high of $84.93. The business's fifty day simple moving average is $76.80 and its 200-day simple moving average is $70.03. The firm has a market cap of $4.22 billion, a PE ratio of 25.18, a P/E/G ratio of 2.01 and a beta of 1.22.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The asset manager reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Cohen & Steers had a net margin of 28.82% and a return on equity of 28.03%. The firm had revenue of $151.84 million for the quarter, compared to analyst estimates of $149.45 million. During the same period in the previous year, the firm posted $0.73 EPS. The company's revenue was up 12.2% compared to the same quarter last year. Research analysts expect that Cohen & Steers Inc will post 3.49 EPS for the current year.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Monday, August 10th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, August 10th. Cohen & Steers's payout ratio is presently 82.21%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CNS shares. Weiss Ratings raised shares of Cohen & Steers from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, June 29th. Evercore restated an "outperform" rating and issued a $84.00 price target on shares of Cohen & Steers in a research report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $76.00.

Insider Activity

In other news, EVP Daniel Noonan sold 4,360 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $77.33, for a total transaction of $337,158.80. Following the completion of the sale, the executive vice president owned 28,682 shares in the company, valued at $2,217,979.06. This trade represents a 13.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Elena Dulik sold 1,100 shares of Cohen & Steers stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the sale, the chief accounting officer directly owned 22,146 shares in the company, valued at approximately $1,841,661.36. The trade was a 4.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 45.40% of the company's stock.

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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