Cohen & Steers, Inc. (NYSE:CNS) Short Interest Up 18.9% in November

Cohen & Steers, Inc. (NYSE:CNS) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,890,000 shares, an increase of 18.9% from the October 31st total of 1,590,000 shares. Currently, 7.0% of the shares of the company are sold short. Based on an average daily trading volume, of 209,200 shares, the short-interest ratio is currently 9.0 days.

Wall Street Analysts Forecast Growth

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

Cohen & Steers Stock Down 1.0 %

Shares of NYSE:CNS opened at $103.63 on Tuesday. The company’s 50 day moving average price is $99.46 and its two-hundred day moving average price is $86.43. Cohen & Steers has a 12-month low of $60.26 and a 12-month high of $110.67. The firm has a market cap of $5.24 billion, a PE ratio of 39.40 and a beta of 1.53.

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

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.59 per share. The ex-dividend date was Monday, November 18th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.28%. Cohen & Steers’s payout ratio is presently 88.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CNS. CANADA LIFE ASSURANCE Co grew its position in shares of Cohen & Steers by 10.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 9,400 shares of the asset manager’s stock worth $723,000 after purchasing an additional 883 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cohen & Steers by 6.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,220 shares of the asset manager’s stock worth $1,248,000 after acquiring an additional 941 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Cohen & Steers by 115.1% during the 2nd quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock worth $27,000 after acquiring an additional 198 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Cohen & Steers by 292.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 12,236 shares of the asset manager’s stock worth $888,000 after acquiring an additional 9,119 shares during the period. Finally, Hunter Perkins Capital Management LLC lifted its holdings in shares of Cohen & Steers by 9.8% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 28,923 shares of the asset manager’s stock worth $2,099,000 after acquiring an additional 2,580 shares during the period. Institutional investors and hedge funds own 51.47% of the company’s stock.

About Cohen & Steers

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.