Cohen & Steers, Inc. (NYSE:CNS) Sees Significant Growth in Short Interest

Cohen & Steers, Inc. (NYSE:CNS) was the target of a significant increase in short interest in 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. Based on an average daily volume of 209,200 shares, the days-to-cover ratio is presently 9.0 days. Currently, 7.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

CNS has been the topic of several research reports. UBS Group upgraded shares of Cohen & Steers from a “sell” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $102.00 in a research note on Thursday, October 17th. Evercore ISI raised their price target 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 Performance

CNS opened at $104.66 on Friday. The company has a market cap of $5.29 billion, a PE ratio of 39.05 and a beta of 1.53. The stock has a 50-day moving average of $99.46 and a 200-day moving average of $86.24. Cohen & Steers has a 52-week low of $58.18 and a 52-week high of $110.67.

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

Cohen & Steers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.36 dividend on an annualized basis and a yield of 2.25%. Cohen & Steers’s payout ratio is presently 88.06%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Cohen & Steers by 115.1% in the second quarter. GAMMA Investing LLC now owns 370 shares of the asset manager’s stock worth $27,000 after purchasing an additional 198 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Cohen & Steers in the 3rd quarter valued at approximately $31,000. Westside Investment Management Inc. bought a new position in Cohen & Steers in the 3rd quarter worth approximately $32,000. Signaturefd LLC lifted its holdings in shares of Cohen & Steers by 19.8% during the third quarter. Signaturefd LLC now owns 648 shares of the asset manager’s stock worth $62,000 after buying an additional 107 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings 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 worth $79,000 after buying an additional 119 shares during the last quarter. Institutional investors 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.