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 reported preliminary assets under management of $84.2 billion as of November 30, 2022, showing an increase of $4.2 billion from October. The gain was primarily driven by market appreciation of $4.6 billion, although net outflows accounted for $252 million and distributions were $177 million.
This reflects the company's ongoing market dynamics and investor behavior in a challenging economic environment.
The press release discusses the distribution payment details for Cohen & Steers Limited Duration Preferred and Income Fund (LDP) slated for November 30, 2022. It outlines the managed distribution policy established in December 2016, which allows for regular monthly distributions aimed at maximizing long-term returns. For November 2022, the total current distribution per share is $0.1350, with 87.93% attributed to net investment income. The Fund also reports a year-to-date cumulative total return of -14.34% as of October 31, 2022, indicating a decline in performance amid ongoing market conditions.
The press release from Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) announces the upcoming distribution on November 30, 2022, and cumulative distributions year-to-date. The Fund has implemented a managed distribution policy since December 2021 aimed at delivering long-term total returns via regular monthly payments. The distribution may include net investment income, capital gains, and return of capital which reduces a shareholder's tax basis. The Fund's Year-to-date Cumulative Total Return for 2022 is reported at -19.83%, with a Cumulative Distribution Rate of 9.06%. Final tax characteristics will be disclosed via Form 1099-DIV.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced its distribution sources for November 30, 2022. The Fund employs a managed distribution policy, allowing for flexibility in delivering long-term capital gains through regular monthly distributions. The current distribution totals $0.1350 per share, comprising net investment income (88.81%), along with a small portion as return of capital (11.19%). The Fund reports a -17.24% year-to-date cumulative total return, with a cumulative distribution rate of 7.36% for 2022.
The Cohen & Steers Quality Income Realty Fund (NYSE: RQI) announced details regarding its monthly distribution set for November 30, 2022. Under its managed distribution policy, the Fund aims to provide consistent monthly distributions, offering shareholders flexibility to realize long-term capital gains. The November distribution amounts to $0.0800 per share, sourced entirely from net investment income. However, the cumulative total return for the year to October 31, 2022, stands at a decline of 27.59%, while the average annual total return over five years is 6.24%. Potential changes to the distribution policy could impact share prices.
Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF) announced its distribution details for November 30, 2022. The Fund adheres to a managed distribution policy that aims to provide monthly distributions at a fixed rate, fostering long-term capital gains realization. For November 2022, the total distribution is $0.1550 per share, while cumulative distributions year-to-date are $1.7050 per share. Notably, the Fund reported a year-to-date cumulative total return of -12.66% and a cumulative distribution rate of 7.33% as of October 31, 2022.
Cohen & Steers REIT and Preferred and Income Fund, Inc. (NYSE: RNP) has announced details about its upcoming distribution on November 30, 2022, and cumulative distributions for the fiscal year. The Fund follows a managed distribution policy aimed at providing regular monthly distributions to shareholders. For November, the total current distribution is $0.1360 per share, with 85.59% coming from net realized short-term capital gains. Shareholders will receive Form 1099-DIV for accurate reporting of distributions for tax purposes after the year ends.
The press release from Cohen & Steers Total Return Realty Fund (NYSE: RFI) informs shareholders about the sources of the upcoming distribution on November 30, 2022. The Fund follows a managed distribution policy aimed at delivering long-term returns through regular monthly distributions. For November 2022, the distribution amount is $0.0800 per share, with a cumulative distribution rate of 7.42% for the year. The Fund's year-to-date cumulative total return is reported at -23.01%. Key performance metrics highlight that net investment income significantly contributes to the distribution.
Cohen & Steers (NYSE: CNS) announced modifications to its Realty Majors Portfolio Index (RMP) and Global Realty Majors Portfolio Index (GRM), effective at the close of business on November 18, 2022. Rexford Industrial Realty, Inc. (REXR.US) has been added to both indexes, while no components were removed. The indexes serve as market capitalization-weighted benchmarks for selected real estate securities and emphasize companies that are innovating in real estate securitization. They are independently calculated by Standard & Poor's.
Cohen & Steers reported preliminary assets under management (AUM) of $80.0 billion as of October 31, 2022, marking an increase of $773 million from September 30, 2022. This growth was attributed to market appreciation of $1.5 billion, which offset net outflows of $570 million and distributions totaling $172 million.
Key components of AUM included institutional accounts and various investment vehicles, indicating diverse sources of asset growth.
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