UBS Upgrades Cohen & Steers Outlook Amid Price Target Adjustments
On October 17, 2024, UBS changed its rating for Cohen & Steers (NYSE:CNS) from Sell to Neutral.
Analysts Predict Price Decline Ahead
The average estimated price target for Cohen & Steers as of September 25, 2024, is $79.05 per share. Estimates vary, with a low of $63.63 and a high of $96.60. This average suggests a potential drop of 24.96% from its recent closing price of $105.35 per share.
Annual Revenue Expectations Rise
Cohen & Steers is projected to have annual revenue of $565 million, reflecting a 13.64% increase. Additionally, the forecast for annual non-GAAP earnings per share (EPS) stands at 3.10.
Institutional Interest on the Rise
Currently, 506 funds or institutions hold positions in Cohen & Steers, marking an increase of 58 owners, or 12.95%, over the last quarter. The average portfolio allocation for these funds in CNS is 0.16%, up by 4.75%. Total institutional shares owned grew by 11.72% in the past three months to 39,760,000 shares. The put/call ratio for CNS is 0.63, which suggests a bullish sentiment among investors.
Wasatch Advisors now holds 3,114,000 shares, accounting for 6.16% ownership, down slightly from 3,125,000 shares, representing a decrease of 0.33%. Their portfolio allocation in CNS decreased by 3.80% this past quarter.
Bamco owns 2,043,000 shares, or 4.04% of the company, having reduced their stake from 2,143,000 shares, a drop of 4.89%. Similarly, Victory Capital Management holds 1,725,000 shares, a 3.41% stake, down from 1,733,000 shares, which is a 0.47% decrease.
The IJR – iShares Core S&P Small-Cap ETF holds 1,708,000 shares (3.38%), while the BARON GROWTH FUND, BGRFX, possesses 1,675,000 shares (3.31%), which reflects a decrease from 1,775,000 shares, or 5.97%. However, BGRFX increased its allocation in CNS by 1.24% over the quarter.
About Cohen & Steers
(Company description provided.)
Founded in 1986 and headquartered in New York City, Cohen & Steers is a global investment manager focused on liquid real assets. Their expertise includes real estate securities, listed infrastructure, and natural resource equities, in addition to preferred securities and other income solutions.
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