There was little in narrow-moat Cohen & Steers' first-quarter results that would alter our long-term view of the firm. We expect to leave our $63 per share fair value estimate in place. We view the shares as being slightly overvalued right now.
A reputation for successful REIT investing has allowed Cohen & Steers to tap into demand for listed alternatives offering diversification from more traditional stock and bond offerings.
Given its heavier exposure to real estate investments, Cohen & Steers lives and dies by the state of commercial real estate markets and the specialty finance firms that make a living from them.
|
Metric
|
CNS
|
AMG
|
IVZ
|
|---|---|---|---|
Price/Earnings (Normalized) | 23.89 | 8.17 | 10.07 |
Price/Book Value | 8.72 | 1.48 | 0.64 |
Price/Sales | 6.84 | 3.28 | 1.21 |
Price/Cash Flow | 17.25 | 6.12 | 4.70 |
|
Metric
|
CNS
|
AMG
|
IVZ
|
|---|---|---|---|
Quick Ratio | 21.93 | 2.61 | 2.30 |
Current Ratio | 21.93 | 2.61 | 2.30 |
Interest Coverage | — | 9.82 | −3.05 |
|
Metric
|
CNS
|
AMG
|
IVZ
|
|---|---|---|---|
Return on Assets (Normalized) | 21.08% | 8.01% | 2.34% |
Return on Equity (Normalized) | 39.57% | 21.13% | 6.19% |
Return on Invested Capital (Normalized) | 22.23% | 11.08% | 2.82% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
BLK
| BlackRock Inc | Clzsqgxcj | Yxq | $112.1 Bil | |
BX
| Blackstone Inc | Lvxgkzm | Gbbjss | $92.8 Bil | |
KKR
| KKR & Co Inc Ordinary Shares | Ffslxjrq | Czbvdrx | $83.7 Bil | |
AMP
| Ameriprise Financial Inc | Gyrrrnxr | Qsdcxhx | $41.3 Bil | |
BK
| Bank of New York Mellon Corp | Fzpkjvn | Dkd | $40.4 Bil | |
TROW
| T. Rowe Price Group Inc | Hvpwdbyrqz | Gswg | $24.9 Bil | |
STT
| State Street Corporation | Bzvwnmr | Sqfd | $22.0 Bil | |
NTRS
| Northern Trust Corp | Fxysnhzl | Wbbn | $16.6 Bil | |
CG
| The Carlyle Group Inc | Wzlmtyy | Wmtpzbb | $16.1 Bil | |
BEN
| Franklin Resources Inc | Lwdnlczsb | Nzhrg | $13.1 Bil |
