Update shared on 10 Dec 2025
Fair value Decreased 0.92%Narrative Update
Analysts have modestly reduced their price target on Cohen & Steers by approximately 1 percent, to about 72 dollars per share. This reflects slightly higher perceived risk and a somewhat lower valuation multiple, despite broadly unchanged growth and margin expectations.
What's in the News
- Cohen & Steers, through its Private Real Estate Group, formed a joint venture with Lincoln Property Company to acquire Cityline at Tenley. This is a high traffic retail center atop the Tenleytown Metro Station in northwest Washington, D.C., anchored by a strong performing Target and benefiting from affluent local demographics (Key Developments).
- The Tenleytown property sits in an Uptown submarket that ranks in approximately the top 1 percent of U.S. zip codes and the top 7 percent of submarkets for attractive strip center rankings. It is supported by a highly educated 3 mile population of 207,000 and a median household income of 142,000 dollars (Key Developments, Greenstreet data cited).
- Chief Financial Officer Raja Dakkuri notified Cohen & Steers that he will resign effective October 17, 2025, after securing another opportunity. The company stated that his departure is not related to any disagreement over operations, policies, or financial reporting (Key Developments).
- Senior Vice President and Controller Michael Donohue has been appointed Interim Chief Financial Officer effective on the transition date. The company is conducting a search, including internal and external candidates, for a permanent successor (Key Developments).
Valuation Changes
- Fair Value Estimate decreased slightly from approximately 72.33 dollars to 71.67 dollars per share, a reduction of about 0.9 percent.
- Discount Rate increased modestly from about 8.13 percent to 8.24 percent, indicating a small uptick in the assumed risk profile.
- Revenue Growth remained effectively unchanged at approximately 6.80 percent, reflecting stable longer term growth expectations.
- Net Profit Margin held steady at about 41.24 percent, with only immaterial rounding differences between the prior and updated estimates.
- Future P/E declined moderately from roughly 17.47x to 16.71x, implying a somewhat lower valuation multiple on projected earnings.
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