Welcome to our dedicated page for Cohen & Steers news (Ticker: CNS), a resource for investors and traders seeking the latest updates and insights on Cohen & Steers stock.
Cohen & Steers Inc. (NYSE: CNS) is a premier global investment manager specializing in liquid real assets such as real estate securities, listed infrastructure, commodities, and natural resource equities. Founded in 1986, this New York City-headquartered firm also focuses on preferred securities and other income solutions. With additional offices in London, Hong Kong, Tokyo, and Seattle, Cohen & Steers operates a diversified, international portfolio.
The company's core business revolves around the management of equity shares of real estate investment trusts (REITs), both domestically and internationally. As of January 2024, real estate and related securities constitute nearly two-thirds of its total $79.3 billion in managed assets. The firm also offers dedicated portfolios for preferred securities, utilities stocks, and other high-yield investments.
Cohen & Steers maintains a balanced distribution of its managed assets across closed-end funds, open-end funds, and institutional accounts. In the past year, they have seen that 42% of their managed assets and 27% of base management fees come from institutional clients. Open-end funds account for 45% of managed assets and 52% of base management fees. Closed-end funds contribute 13% of managed assets and 21% of base management fees.
Recent Achievements and Current Projects
Recent quarterly earnings reports reflect positive growth and robust financial performance. The company consistently updates its stakeholders through earnings releases, conference calls, and detailed presentations available on their official website. Significant events include:
- Quarterly earnings reports with comprehensive financial analyses.
- Regular conference calls hosted by top executives including CEO Joseph Harvey, CFO Matthew Stadler, and CIO Jon Cheigh.
- Strategic initiatives such as 'at-the-market' equity offerings, recently adding over a million shares at an average price of $69.60, raising approximately $68.4 million for corporate purposes.
Partnerships and Market Position
The firm's collaborations with major financial institutions and investment platforms underscore its market leadership. For instance, Cohen & Steers recently ranked among the top companies in the S&P SmallCap 600 index, highlighting its growing influence and solid market reputation.
Investors can expect ongoing updates and opportunities through the firm’s comprehensive communication channels, including a wealth of resources and archival financial data available on their website.
Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) has announced its December 2024 distribution details and fiscal year-to-date performance. The Fund follows a managed distribution policy implemented in December 2021 to deliver long-term total returns through regular monthly distributions. For December 2024, the distribution of $0.0870 per share comprises 41.95% from net investment income and 58.05% from return of capital. Year-to-date through November 30, 2024, the Fund achieved a cumulative total return of 24.96% and maintains a current annualized distribution rate of 8.38%. The Fund's five-year average annual total return ending November 30, 2024, stands at 7.78%.
Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) announced its December 2024 distribution details and year-to-date performance. The Fund's monthly distribution of $0.1360 per share consists entirely of net investment income. The Fund reported strong performance metrics, including a year-to-date cumulative total return of 16.95% and a five-year average annual total return of 6.74%. The current annualized distribution rate stands at 7.21% of NAV. The Fund operates under a managed distribution policy implemented in December 2017, which aims to deliver long-term total returns through regular monthly distributions.
Cohen & Steers Total Return Realty Fund (NYSE: RFI) has announced its December 2024 distribution details and year-to-date performance metrics. The Fund's December distribution of $0.0800 per share comprises 70.38% from net investment income and 29.62% from net realized long-term capital gains. Year-to-date distributions total $0.9600 per share, sourced from net investment income (32.04%), short-term capital gains (8.76%), and long-term capital gains (59.20%).
The Fund's performance metrics show a year-to-date cumulative total return of 13.45% and a cumulative distribution rate of 7.62%. The five-year average annual total return ending November 30, 2024, stands at 6.08%, with a current annualized distribution rate of 7.62%.
Cohen & Steers Quality Income Realty Fund (RQI) has announced its December 2024 distribution details under its managed distribution policy. The Fund will distribute $0.0800 per share on December 31, 2024, comprising 92.88% from net investment income and 7.12% from net realized long-term capital gains.
The Fund's year-to-date performance shows a 17.76% cumulative total return and a 6.70% cumulative distribution rate. Over the five-year period ending November 30, 2024, the Fund achieved an average annual total return of 7.45% with a current annualized distribution rate of 6.70%.
Cohen & Steers Infrastructure Fund (UTF) has announced its December 2024 distribution details and sources. The monthly distribution of $0.1550 per share consists of 66% ($0.1023) from net investment income and 34% ($0.0527) from net realized long-term capital gains. Year-to-date distributions total $1.8600 per share, with 47.76% from net investment income and 52.24% from net realized long-term capital gains.
The Fund's performance metrics show a year-to-date cumulative total return of 21.46% and a five-year average annual total return of 7.49%. The current annualized distribution rate stands at 7.19% of NAV. The Fund operates under a managed distribution policy implemented in March 2015, aiming to deliver long-term total returns through regular monthly distributions.
Cohen & Steers (NYSE: CNS) has appointed Jon Cheigh as President, effective January 1, 2025, while maintaining his role as Chief Investment Officer. Cheigh, who joined the firm in 2005 as a research analyst, progressed through various roles including portfolio manager in 2008, Head of Global Real Estate in 2012, and Chief Investment Officer in 2019.
The appointment reflects Cheigh's successful leadership and mentoring abilities, and aligns with the firm's strategy for investment professional leadership. CEO Joseph Harvey praised Cheigh's transformative role in the real estate team and investment department, highlighting his consistent delivery of alpha and cultivation of a culture focused on creativity, innovation, teamwork, and excellence.
Cohen & Steers (NYSE: CNS) reported preliminary assets under management (AUM) of $91.4 billion as of November 30, 2024, representing a $1.7 billion increase from October's $89.7 billion. The growth was primarily driven by market appreciation of $1.9 billion, which was partially offset by distributions of $151 million and net outflows of $98 million.
The AUM breakdown shows Open-end Funds at $43.3 billion, Institutional Accounts at $36.3 billion, and Closed-end Funds at $11.8 billion. Within Institutional Accounts, Advisory accounts held $20.6 billion, Japan Subadvisory $9.3 billion, and Subadvisory excluding Japan $6.4 billion.
Cohen & Steers (NYSE: CNS) has been recognized as one of the 'Best Places to Work in Money Management' by Pensions & Investments for the fifth consecutive year. This recognition comes through a comprehensive evaluation process conducted in partnership with Workforce Research Group, involving a two-part survey.
The assessment consisted of workplace policies and practices evaluation (20% of score) and an employee experience survey (80% of score). CEO Joseph Harvey highlighted the company's commitment to fostering an inclusive culture where employees can collaborate, contribute to communities through volunteerism, and pursue excellence in delivering superior investment results.
The recognition is part of P&I's 13th annual program aimed at identifying top employers in the money management industry.
Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) has announced its November 2024 distribution details under its managed distribution policy. The current distribution of $0.0870 per share consists of 43.10% ($0.0375) from net investment income and 56.90% ($0.0495) from return of capital. Year-to-date, the Fund has distributed $0.9570 per share, with 36.32% from net investment income and 63.68% from return of capital. The Fund's performance metrics show a year-to-date total return of 20.01% and a five-year average annual return of 7.26%. The current annualized distribution rate stands at 8.66%.
Cohen & Steers Total Return Realty Fund (NYSE: RFI) has announced its November 2024 distribution details and year-to-date performance. The Fund's distribution of $0.0800 per share comprises 18% from net investment income, 4.50% from short-term capital gains, 55.25% from long-term capital gains, and 22.25% from return of capital. The Fund's year-to-date cumulative total return through October 31, 2024, is 10.59%, with a current annualized distribution rate of 7.77%. The Fund's five-year average annual total return ending October 31, 2024, stands at 5.29%.
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