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, Inc. (NYSE: CNS) announced its operating results for Q4 and the year ended December 31, 2022. The conference call to discuss these results is scheduled for January 26, 2023, at 10:00 a.m. ET. Chief executive officer Joseph Harvey, CFO Matthew Stadler, and CIO Jon Cheigh will lead the call, accessible to investors and analysts via telephone and webcast. Cohen & Steers specializes in real assets and alternative income management, with a global presence including offices in New York, London, Dublin, Hong Kong, and Tokyo. More information can be found on their website.
Cohen & Steers (NYSE: CNS) has appointed John T. Moore as the new Senior Vice President and Head of Private Wealth Solutions. With 30 years of experience in financial services, Moore previously served at Franklin Templeton, overseeing alternative solutions distribution. He will lead the expansion of the firm's private real estate business across U.S. wealth channels, reporting to Emily Conte, Executive Vice President. The management change is expected to strengthen the firm's capabilities in private real estate and alternatives, enhancing support for financial advisors and their clients' portfolios.
Cohen & Steers (NYSE: CNS) is set to announce its fourth quarter and full year 2022 operating results on January 25, 2023, after market close. An earnings presentation will be accessible on the firm's website. A subsequent conference call will take place on January 26, 2023, at 10:00 a.m. ET, featuring CEO Joseph Harvey, CFO Matthew Stadler, and CIO Jon Cheigh to discuss results and outlook. Investors can participate via phone or webcast, with a replay available for two weeks. Cohen & Steers specializes in real assets and alternative income investments, maintaining a global presence with offices in major cities like London, Dublin, Hong Kong, and Tokyo.
Cohen & Steers has appointed Kimberly LaPointe as the new Executive Vice President and Head of the Wealth Management Consulting Group. With 30 years of experience, LaPointe previously led PGIM Investments' expansion into Europe and Asia. Her role will focus on enhancing services in various channels, including RIA and private banking. CEO Joe Harvey emphasized the significance of her leadership during an anticipated shift towards real assets and alternative income. This strategic move is expected to bolster the firm's growth and strengthen its market position in the investment landscape.
Cohen & Steers reported preliminary assets under management of $80.4 billion as of December 31, 2022, representing a decrease of $3.8 billion from November 30, 2022. This decline was attributed to market depreciation of $2.6 billion, distributions totaling $887 million, and net outflows of $260 million.
Overall, the firm continues to specialize in real assets and alternative income management.
The Board of Directors of the Cohen & Steers Quality Income Realty Fund (NYSE: RQI) has announced a year-end capital gain distribution of $0.237 per share. This distribution, in addition to the regular monthly dividend, aims to fulfill the Fund's 2022 federal excise tax requirements. Important dates include the declaration on December 13, 2022, ex-date on December 27, 2022, record date on December 28, 2022, and payment date on January 9, 2023. The Fund's managed distribution policy allows for flexibility in distributing long-term capital gains, but the Board may change this policy at any time.
The Board of Directors of Cohen & Steers Total Return Realty Fund (NYSE: RFI) announced a year-end capital gain distribution of $0.266 per share, payable on January 9, 2023. This distribution is intended to meet the Fund's 2022 distribution requirement for federal excise tax purposes. Shareholders will receive information regarding the tax characteristics of the distributions via Form 1099-DIV. The Fund has a managed distribution policy aiming for regular distributions based on its long-term gains, but the policy may be altered by the Board, impacting share prices.
Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) announced the sources for its special distribution, to be paid on December 15, 2022. The Fund has a managed distribution policy aimed at providing regular monthly distributions while allowing flexibility for long-term capital gains. For December 2022, the total current distribution is $1.0714 per share, composed of $0.5531 net investment income and $0.5183 net realized short-term capital gains. The year-to-date cumulative total return is -19.54%, while the cumulative distribution rate stands at 12.25%.
The Boards of Directors of the Cohen & Steers Closed-End Funds announced monthly distributions for January, February, and March 2023. Key dividends are as follows: FOF: $0.087, LDP: $0.135, PSF: $0.135, PTA: $0.134, RFI: $0.080, RLTY: $0.104, RNP: $0.136, RQI: $0.080, UTF: $0.155. Notably, the Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund has increased its monthly distribution by $0.004 to $0.134 per share, reflecting current market conditions.
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