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 (NYSE: CNS) reported preliminary assets under management (AUM) of $89.7 billion as of October 31, 2024, representing a $2.0 billion decrease from September's $91.8 billion. The decline was attributed to market depreciation of $2.3 billion and distributions of $150 million, partially offset by net inflows of $454 million.
The company's AUM breakdown shows Open-end Funds at $42.5 billion, Total Institutional Accounts at $35.6 billion, and Closed-end Funds at $11.7 billion. While Open-end Funds saw positive net flows of $546 million, Institutional Accounts experienced net outflows of $93 million.
Cohen & Steers (NYSE: CNS) has announced upcoming modifications to its Global Realty Majors Portfolio Index (GRM) and International Realty Majors Portfolio Index (IRP), effective November 15, 2024. The changes include adding Charter Hall Group (CHC.AU) and removing Daiwa House REIT Investment Corp. (8984.JP) from both indexes. Additionally, Big Yellow Group Plc (BYG.LN) and Cofinimmo SA (COFB.BB) will be removed from the IRP. These indexes are free-float adjusted, modified market capitalization-weighted, and are quoted intraday on the Chicago Mercantile Exchange.
Cohen & Steers (NYSE: CNS) has appointed Karen Wilson Thissen to its Board of Directors, including positions on the Audit, Compensation, and Nominating and Corporate Governance Committees. Thissen currently serves as General Counsel and Secretary of General Mills, and previously held the position of Executive Vice President and General Counsel at Ameriprise Financial from 2017 to 2022. The company's leadership highlighted her extensive experience in wealth management and executive leadership at S&P 500 companies as valuable assets for strategic development and shareholder value creation.
Cohen & Steers (NYSE: CNS) has announced its fourth quarter 2024 dividend. The company's Board of Directors has declared a cash dividend of $0.59 per share of common stock. The dividend will be paid on December 2, 2024 to stockholders of record at the close of business on November 18, 2024.
Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) announced its October 2024 distribution details. The Fund's current distribution of $0.1360 per share comes entirely from net investment income. Year-to-date through September 30, 2024, the Fund achieved a 16.98% cumulative total return with a 5.93% cumulative distribution rate. The Fund's five-year average annual total return ending September 30, 2024, stands at 6.79%, with a current annualized distribution rate of 7.12%. The Fund operates under a managed distribution policy implemented in December 2017 to deliver long-term total return potential through regular monthly distributions.
Cohen & Steers Total Return Realty Fund (RFI) has announced its October 2024 distribution details. The Fund's current distribution of $0.0800 per share comprises 17.13% from net investment income and 82.87% from net realized long-term capital gains. Year-to-date distributions total $0.8000 per share, sourced from net investment income (29.51%), short-term capital gains (14.26%), long-term capital gains (52.68%), and return of capital (3.55%). The Fund's year-to-date cumulative total return through September 2024 is 13.52%, with a current annualized distribution rate of 7.52% and a five-year average annual total return of 5.96%.
Cohen & Steers Quality Income Realty Fund announces its October 2024 distribution details. The Fund maintains a managed distribution policy implemented in December 2012 to deliver long-term returns through monthly distributions. The current distribution of $0.0800 per share comprises 12.38% from net investment income and 87.62% from net realized long-term capital gains. The Fund's year-to-date cumulative total return through September 30, 2024, is 17.76%, with a cumulative distribution rate of 5.52%. The Fund's five-year average annual total return ending September 30, 2024, stands at 7.23%, with a current annualized distribution rate of 6.63%.
Cohen & Steers Infrastructure Fund (UTF) announced its October 2024 distribution details and year-to-date performance. The Fund's October distribution of $0.1550 per share comprises 36.32% net investment income, 39.10% short-term capital gains, 19.16% long-term capital gains, and 5.42% return of capital. The Fund's year-to-date cumulative total return through September 30, 2024, was 19.95%, with a current annualized distribution rate of 7.19%. The Fund maintains a managed distribution policy implemented in March 2015 to deliver long-term total returns through regular monthly distributions.
Cohen & Steers Closed-End Opportunity Fund announced its October 2024 distribution details. The Fund maintains a managed distribution policy implemented in December 2021 to deliver long-term total returns through monthly distributions. The current distribution of $0.0870 per share comprises 36.09% from net investment income and 63.91% from return of capital. Year-to-date through September 30, 2024, the Fund reported a cumulative total return of 21.24% and a five-year average annual total return of 7.59%. The current annualized distribution rate stands at 8.52% based on NAV.
Cohen & Steers (NYSE: CNS) and DLC have jointly acquired Springfield Commons, a 119,085 square foot open-air shopping center in Springfield, Virginia. Located 15 miles west of Washington, D.C., the property is currently 78% occupied by tenants including Pure Gym, Old Navy, Pure Hockey, and Staples, with expectations to reach 98% occupancy short-term. The center is shadow anchored by Virginia's most visited Home Depot.
The retail submarket shows strong performance with 96.9% occupancy and 3.3% year-over-year rent growth, exceeding national averages of 95.7% and 2.9%. Open-air shopping centers currently maintain their highest occupancy level in 16 years and were the best performing private core real estate sector in 2023.
FAQ
What is the current stock price of Cohen & Steers (CNS)?
What is the market cap of Cohen & Steers (CNS)?
What does Cohen & Steers specialize in?
Where is Cohen & Steers headquartered?
What are the primary assets managed by Cohen & Steers?
How is Cohen & Steers' asset distribution balanced?
What were the recent financial highlights?
How can investors access Cohen & Steers' earnings reports?
Who are the key executives at Cohen & Steers?
What recent strategic initiatives has Cohen & Steers undertaken?
Which index recently included Cohen & Steers?
How can one participate in Cohen & Steers’ conference calls?
