Teacher Retirement System of Texas Buys 28,740 Shares of Cohen & Steers Inc $CNS

Key Points

• Teacher Retirement System of Texas boosted its stake by 40.5%, buying 28,740 shares to own 99,778 shares of Cohen & Steers (0.20% of the company) valued at $6.264 million.
• Cohen & Steers increased its quarterly dividend to $0.67 (annualized $2.68), implying a 4.0% yield but a high dividend payout ratio of 88.45%.
• In the latest quarter the firm reported $0.79 EPS (missing estimates by $0.03) while revenue of $144.26M beat consensus and rose 8.3% YoY; analysts' consensus is a Hold with an average target of $72.00.

Teacher Retirement System of Texas boosted its stake in Cohen & Steers Inc (NYSE:CNS - Free Report) by 40.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,778 shares of the asset manager's stock after acquiring an additional 28,740 shares during the period. Teacher Retirement System of Texas owned 0.20% of Cohen & Steers worth $6,264,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CNS. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cohen & Steers by 18.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,632 shares of the asset manager's stock valued at $416,000 after buying an additional 1,023 shares in the last quarter. CWM LLC boosted its holdings in shares of Cohen & Steers by 499.0% during the 4th quarter. CWM LLC now owns 4,666 shares of the asset manager's stock valued at $293,000 after buying an additional 3,887 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Cohen & Steers by 459.2% during the 4th quarter. Farther Finance Advisors LLC now owns 699 shares of the asset manager's stock valued at $44,000 after buying an additional 574 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Cohen & Steers by 1.4% during the 4th quarter. State of Alaska Department of Revenue now owns 16,333 shares of the asset manager's stock valued at $1,024,000 after buying an additional 231 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Cohen & Steers by 287.9% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 5,116 shares of the asset manager's stock valued at $321,000 after buying an additional 3,797 shares in the last quarter. Institutional investors own 51.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CNS. Zacks Research upgraded shares of Cohen & Steers from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Weiss Ratings upgraded shares of Cohen & Steers from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. Finally, Evercore set a $76.00 target price on shares of Cohen & Steers in a report on Monday, April 20th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $72.00.

Insider Transactions at Cohen & Steers

In related news, EVP Francis C. Poli sold 10,000 shares of the company's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $65.73, for a total value of $657,300.00. Following the transaction, the executive vice president owned 55,675 shares in the company, valued at $3,659,517.75. The trade was a 15.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 45.40% of the stock is currently owned by insiders.

Cohen & Steers Trading Up 0.0%

Shares of CNS stock opened at $67.74 on Monday. The stock has a market cap of $3.48 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.76 and a beta of 1.26. The company's fifty day moving average price is $64.86 and its 200-day moving average price is $65.15. Cohen & Steers Inc has a 12 month low of $58.39 and a 12 month high of $83.99.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.03). The firm had revenue of $144.26 million during the quarter, compared to the consensus estimate of $140.62 million. Cohen & Steers had a return on equity of 28.21% and a net margin of 27.47%.The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. On average, sell-side analysts forecast that Cohen & Steers Inc will post 3.38 earnings per share for the current fiscal year.

Cohen & Steers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, March 9th. This is a positive change from Cohen & Steers's previous quarterly dividend of $0.62. Cohen & Steers's dividend payout ratio (DPR) is presently 88.45%.

Cohen & Steers Profile

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).

Want to see what other hedge funds are holding CNS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cohen & Steers Inc (NYSE:CNS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.