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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.
The press release from Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) details the distribution sources for shareholders, payable on March 31, 2023. The Fund follows a managed distribution policy initiated in December 2016, enabling regular monthly distributions to enhance total return potential. The current monthly distribution is $0.1350 per common share, comprising $0.1001 net investment income, $0.0349 return of capital, and no capital gains. For fiscal year-to-date, total distributions amount to $0.4050 per share. The Year-to-date Cumulative Total Return stands at 7.26%, with a Current Annualized Distribution Rate of 7.47%. Investors are advised to refer to the Fund's website for further details.
The Cohen & Steers Limited Duration Preferred and Income Fund (LDP) has announced its distribution for March 31, 2023, following a managed distribution policy initiated in December 2016. This policy aims to provide regular monthly distributions at a fixed rate, enhancing capital gains realization for shareholders. For March, the total current distribution per share is $0.1350, sourced mainly from net investment income ($0.1309 or 96.96%). Cumulatively, year-to-date distributions amount to $0.4050. The fund's year-to-date cumulative total return is 6.23%, with a current annualized distribution rate of 7.43%. Shareholders are advised to consider potential returns of capital and seek Form 1099-DIV for tax purposes.
Cohen & Steers (NYSE: CNS) reported preliminary assets under management of
The Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) announced details regarding the distribution to shareholders on February 28, 2023. Following a managed distribution policy initiated in December 2021, the Fund aims to provide consistent monthly distributions at a fixed rate. The February distribution includes $0.0870 per share, with 39.89% sourced from net investment income and 60.11% as a return of capital. Year-to-date returns show a cumulative total return of 7.50% against a distribution rate of 1.54%. While the policy allows flexibility in capital gains distributions, changes to it could impact share prices. Shareholders will receive a Form 1099-DIV for tax reporting.
The press release from Cohen & Steers Limited Duration Preferred and Income Fund (NYSE: LDP) details the distribution sources for payments made to shareholders on February 28, 2023, and cumulative distributions year-to-date. The Fund has adopted a managed distribution policy designed to optimize long-term returns through regular monthly distributions. The total current distribution for February is $0.1350 per share, comprising $0.1028 from net investment income (76.15%) and $0.0322 from return of capital (23.85%). The year-to-date cumulative total return is 7.32%, while the five-year average annual return stands at 3.74% as of January 31, 2023.
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) announced its source of distributions payable on February 28, 2023, as part of its managed distribution policy established in December 2011. This policy aims to provide consistent returns to shareholders through regular monthly distributions, which may include net investment income, capital gains, or return of capital. The total current distribution for February is $0.0800 per share, with a year-to-date cumulative total return of 9.72% as of January 31, 2023. The Fund's five-year average annual total return stands at 7.93%, and the current annualized distribution rate is 7.59%. Shareholders will receive Form 1099-DIV for tax reporting purposes.
The press release from Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE: PSF), dated February 27, 2023, provides details about the sources of a distribution to be paid on February 28, 2023. The Fund operates under a managed distribution policy, aiming for consistent monthly distributions while allowing for capital gain realization throughout the year. The February 2023 distribution is $0.1350 per share, comprising 83.55% net investment income and a return of capital of $0.0222. The Fund's year-to-date cumulative return stands at 9.32%, with a cumulative distribution rate of 1.21% from January 1 to January 31, 2023. Shareholders will receive Form 1099-DIV for tax reporting.
On February 27, 2023, Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF) announced the distribution sources for shareholders scheduled for February 28, 2023. This Fund operates a managed distribution policy to provide consistent monthly returns while allowing flexibility to realize long-term capital gains throughout the year. The total current distribution is $0.1550 per share, with net investment income contributing $0.0909 (58.65%) and net realized long-term capital gains at $0.0637 (41.10%). Year-to-date, the Fund has achieved a cumulative total return of 4.41% and a cumulative distribution rate of 1.23% for fiscal year 2023.
The Cohen & Steers Quality Income Realty Fund (NYSE: RQI) announced its distribution payment schedule for February 28, 2023. The Fund follows a managed distribution policy enabling regular monthly payouts, potentially including long-term capital gains, short-term capital gains, and return of capital. The total current distribution for February is $0.0800 per share, with cumulative distributions for the year at $0.1600. The Fund's year-to-date cumulative total return is reported at 13.39%, alongside a cumulative distribution rate of 1.16%. Shareholders are advised that distributions may vary based on portfolio and market conditions.
The press release from Cohen & Steers REIT and Preferred and Income Fund, Inc. (NYSE: RNP) details the distribution payments to shareholders scheduled for February 28, 2023. The Fund has a managed distribution policy established in December 2017 to provide regular monthly distributions aimed at enhancing total return potential through capital gains. The February distribution is noted as $0.1360 per share, entirely comprising long-term capital gains. Shareholders will receive a Form 1099-DIV for tax reporting purposes. Year-to-date cumulative total return for 2023 is reported at 11.52%, with a cumulative distribution rate of 1.22%. The current annualized distribution rate stands at 7.32%.
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