Short Interest in Cohen & Steers, Inc. (NYSE:CNS) Drops By 12.7%

Cohen & Steers, Inc. (NYSE:CNS) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,650,000 shares, a decline of 12.7% from the November 15th total of 1,890,000 shares. Approximately 6.1% of the company’s stock are short sold. Based on an average daily trading volume, of 209,500 shares, the short-interest ratio is presently 7.9 days.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group raised Cohen & Steers from a “sell” rating to a “neutral” rating and increased their target price for the stock from $63.00 to $102.00 in a report on Thursday, October 17th. Evercore ISI raised their price objective on Cohen & Steers from $110.00 to $111.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Cohen & Steers Stock Down 1.6 %

CNS opened at $99.04 on Friday. The company’s 50-day moving average price is $100.69 and its 200 day moving average price is $88.35. Cohen & Steers has a fifty-two week low of $64.13 and a fifty-two week high of $110.67. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 36.96 and a beta of 1.52.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Wednesday, October 16th. The asset manager reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $133.20 million for the quarter, compared to analysts’ expectations of $124.18 million. Cohen & Steers had a return on equity of 32.75% and a net margin of 27.23%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS.

Cohen & Steers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.36 annualized dividend and a dividend yield of 2.38%. Cohen & Steers’s payout ratio is currently 88.06%.

Hedge Funds Weigh In On Cohen & Steers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in Cohen & Steers in the third quarter worth about $31,000. Westside Investment Management Inc. bought a new stake in shares of Cohen & Steers during the 3rd quarter worth about $32,000. GAMMA Investing LLC lifted its stake in shares of Cohen & Steers by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 610 shares of the asset manager’s stock worth $59,000 after acquiring an additional 240 shares during the period. Signaturefd LLC boosted its holdings in shares of Cohen & Steers by 19.8% in the third quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 107 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Cohen & Steers by 16.9% during the third quarter. Farther Finance Advisors LLC now owns 822 shares of the asset manager’s stock valued at $79,000 after acquiring an additional 119 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 publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.