Cohen & Steers, Inc. (NYSE:CNS) Short Interest Down 5.8% in December

Cohen & Steers, Inc. (NYSE:CNS) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 1,610,000 shares, a drop of 5.8% from the December 15th total of 1,710,000 shares. Based on an average daily volume of 205,200 shares, the days-to-cover ratio is currently 7.8 days. Currently, 6.0% of the shares of the stock are sold short.

Institutional Investors Weigh In On Cohen & Steers

Institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its position in shares of Cohen & Steers by 0.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 26,353 shares of the asset manager’s stock valued at $2,433,000 after purchasing an additional 245 shares during the period. GAMMA Investing LLC lifted its stake in Cohen & Steers by 19.5% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the asset manager’s stock valued at $67,000 after buying an additional 119 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Cohen & Steers in the third quarter valued at approximately $23,988,000. Franklin Resources Inc. increased its position in shares of Cohen & Steers by 18.8% during the third quarter. Franklin Resources Inc. now owns 4,251 shares of the asset manager’s stock worth $410,000 after acquiring an additional 673 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Cohen & Steers by 202.5% during the third quarter. Tidal Investments LLC now owns 25,116 shares of the asset manager’s stock worth $2,410,000 after acquiring an additional 16,814 shares during the period. 51.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Cohen & Steers Stock Performance

NYSE:CNS opened at $88.09 on Monday. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 32.87 and a beta of 1.55. The stock’s fifty day moving average price is $96.53 and its two-hundred day moving average price is $92.07. Cohen & Steers has a 52-week low of $64.13 and a 52-week high of $110.67.

Cohen & Steers Announces Dividend

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. This represents a $2.36 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Monday, November 18th. Cohen & Steers’s payout ratio is 88.06%.

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.