Strs Ohio Makes New $867,000 Investment in Cohen & Steers Inc $CNS

Key Points

• Strs Ohio has acquired a new position in Cohen & Steers Inc, purchasing 10,800 shares valued at approximately $867,000 during Q1.
• Analysts have revised their target prices for Cohen & Steers; Evercore ISI lowered its target from $79.00 to $77.00, while Bank of America reduced its target from $67.00 to $66.00.
• Cohen & Steers reported a quarterly EPS of $0.73, missing estimates of $0.75, despite a year-over-year revenue increase of 11.8% to $135.32 million.

Strs Ohio acquired a new stake in Cohen & Steers Inc (NYSE:CNS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,800 shares of the asset manager's stock, valued at approximately $867,000.

A number of other hedge funds have also recently modified their holdings of the stock. Congress Asset Management Co. raised its position in Cohen & Steers by 24.3% during the first quarter. Congress Asset Management Co. now owns 656,397 shares of the asset manager's stock valued at $52,676,000 after acquiring an additional 128,315 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Cohen & Steers during the 1st quarter valued at approximately $7,222,000. GAMMA Investing LLC lifted its stake in shares of Cohen & Steers by 10,820.2% in the 1st quarter. GAMMA Investing LLC now owns 79,608 shares of the asset manager's stock valued at $6,389,000 after purchasing an additional 78,879 shares during the period. Millennium Management LLC lifted its stake 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 valued at $7,477,000 after purchasing an additional 77,251 shares during the period. Finally, Nuveen LLC purchased a new stake in Cohen & Steers during the first quarter worth $6,193,000. Hedge funds and other institutional investors own 51.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CNS shares. Evercore ISI cut their price objective on shares of Cohen & Steers from $79.00 to $77.00 and set an "outperform" rating for the company in a report on Friday, September 5th. Bank of America dropped their target price on Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating on the stock in a research report on Monday, July 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $81.67.

Cohen & Steers Price Performance

NYSE CNS traded down $1.34 on Monday, hitting $67.25. The company had a trading volume of 327,268 shares, compared to its average volume of 258,712. The company's fifty day moving average price is $73.37 and its 200-day moving average price is $75.87. The company has a market capitalization of $3.43 billion, a PE ratio of 21.35, a PEG ratio of 2.32 and a beta of 1.42. Cohen & Steers Inc has a 12-month low of $67.19 and a 12-month high of $110.67.

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

Cohen & Steers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, August 11th. Cohen & Steers's payout ratio is 78.73%.

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.