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About Cohen & Steers Inc. (NYSE: CNS)
Cohen & Steers Inc. is a globally recognized investment manager specializing in liquid real assets and alternative income solutions. Founded in 1986 and headquartered in New York City, the firm has established itself as a pioneer in real estate securities and related investment strategies. With additional offices in London, Dublin, Hong Kong, Tokyo, and Singapore, Cohen & Steers serves a diverse, global client base, including institutional investors, financial intermediaries, and individual investors.
Core Business Areas
The company’s investment expertise spans a range of asset classes, including:
- Real Estate Securities: Focused on equity shares of Real Estate Investment Trusts (REITs) and other real estate-related securities, both domestically and internationally.
- Listed Infrastructure: Investments in essential infrastructure assets such as utilities, transportation, and communication networks.
- Commodities and Natural Resource Equities: Exposure to global commodity markets and natural resources.
- Preferred Securities: High-yield investment options designed to provide stable income.
- Multi-Strategy and Income Solutions: Tailored portfolios combining various asset classes to meet specific income and diversification goals.
Cohen & Steers is particularly known for its focus on real assets, which are tangible, income-generating investments that provide stability and inflation protection. This specialization positions the firm as a trusted partner for clients seeking alternatives to traditional equity and fixed-income investments.
Revenue Model and Distribution Channels
The company generates revenue primarily through management fees, which are tied to assets under management (AUM). Its distribution is balanced across three primary channels:
- Institutional Accounts: Representing a significant portion of its AUM, these include pension funds, endowments, and sovereign wealth funds.
- Open-End Funds: Mutual funds available to retail and institutional investors, offering liquidity and diversification.
- Closed-End Funds: Publicly traded funds that provide access to specialized investment strategies.
This diversified revenue structure ensures a stable income stream and reduces dependency on any single client segment.
Market Position and Competitive Landscape
Cohen & Steers operates in the competitive asset management industry, with a niche focus on liquid real assets. Its key competitors likely include other specialized asset managers and larger firms with diversified offerings. However, the company differentiates itself through:
- Specialized Expertise: Decades of experience in real assets and alternative income solutions.
- Global Reach: A presence in major financial hubs worldwide, enabling access to diverse markets.
- Innovative Strategies: Tailored investment solutions designed to meet evolving client needs.
These strengths, combined with a commitment to research-driven investment processes, solidify its reputation as a leader in its niche.
Challenges and Opportunities
While Cohen & Steers benefits from its specialization, it faces challenges such as market volatility, regulatory changes, and competition from passive investment products. However, its focus on real assets positions it well to capitalize on trends like urbanization, infrastructure development, and the growing demand for income-generating investments.
Conclusion
Cohen & Steers Inc. is a distinguished player in the asset management industry, offering unique investment opportunities in liquid real assets and alternative income solutions. Its expertise, global presence, and diversified revenue model make it a compelling choice for investors seeking stability, income, and diversification. By continuously adapting to market dynamics and client needs, the firm remains well-positioned to deliver value over the long term.
Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) has announced its January 2025 distribution details. The Fund maintains a managed distribution policy implemented in December 2017 to deliver long-term total return potential through regular monthly distributions.
The January 2025 distribution of $0.1360 per share consists entirely of net investment income. The Fund's year-to-date cumulative total return for 2024 was 9.50%, with a current annualized distribution rate of 7.75%. The five-year average annual total return ending December 31, 2024, stands at 5.15%.
The Fund's distributions may include various components such as long-term capital gains, short-term capital gains, net investment income, and return of capital. The final tax characteristics will be provided on Form 1099-DIV after the calendar year end.
Cohen & Steers Quality Income Realty Fund (RQI) has announced its January 2025 distribution details under its managed distribution policy. The Fund will distribute $0.0800 per common share on January 31, 2025, consisting entirely of net realized long-term capital gains.
The Fund's performance metrics show a year-to-date cumulative total return of 6.19% and a five-year average annual total return of 5.14%. The current annualized distribution rate stands at 7.48% of NAV, with a cumulative distribution rate of 0.62% for the fiscal period.
The managed distribution policy, implemented in December 2012, aims to deliver the Fund's long-term total return potential through regular monthly distributions. Distributions may include long-term capital gains, short-term capital gains, net investment income, and/or return of capital, with final tax characteristics to be determined at year-end.
Cohen & Steers Infrastructure Fund (UTF) has announced its January 2025 distribution details and sources. The Fund maintains a managed distribution policy implemented in March 2015, delivering monthly distributions at a fixed rate. The January 2025 distribution of $0.1550 per share comprises:
- Net Investment Income: 4.97% ($0.0077)
- Net Realized Long-Term Capital Gains: 42.32% ($0.0656)
- Return of Capital: 52.71% ($0.0817)
The Fund's performance metrics show a Year-to-date Cumulative Total Return of 12.75% and a Five-year Average Annual Total Return of 4.79%. The Current Annualized Distribution Rate stands at 7.80%, while the Cumulative Distribution Rate for the fiscal period is 0.65%.
Cohen & Steers Total Return Realty Fund (RFI) has announced its January 2025 distribution details under its managed distribution policy. The Fund will distribute $0.0800 per common share on January 31, 2025, consisting entirely of net realized short-term capital gains. The Fund's year-to-date cumulative total return for 2024 was 5.44%, with a current annualized distribution rate of 8.25%.
The Fund's managed distribution policy, implemented in December 2011, aims to deliver long-term total return potential through regular monthly distributions. The Fund achieved an average annual total return of 4.43% for the five-year period ending December 31, 2024. The cumulative distribution rate for the current fiscal period stands at 0.69%.
Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) has announced its January 2025 distribution details under its managed distribution policy. The Fund will distribute $0.0870 per share on January 31, 2025, consisting of 34.59% from net investment income ($0.0301) and 65.41% from return of capital ($0.0569).
The Fund's performance metrics show a year-to-date cumulative total return of 20.91% and a five-year average annual total return of 6.40%. The current annualized distribution rate stands at 8.72% of NAV. The managed distribution policy, implemented in December 2021, aims to deliver the Fund's long-term total return potential through regular monthly distributions at a fixed rate per share.
Cohen & Steers (NYSE: CNS) has announced its financial results for Q4 and full-year 2024, which will be discussed in detail during a conference call scheduled for January 23, 2025, at 10:00 a.m. (ET). The conference call will be hosted by CEO Joseph Harvey, CFO Raja Dakkuri, and head of multi-asset solutions Jeffrey Palma.
Investors and analysts can participate by dialing 800-715-9871 (U.S.) or +1-646-307-1963 (international) with passcode 8494569. A two-week replay will be available, and a webcast can be accessed through the company's website at www.cohenandsteers.com.
Cohen & Steers (NYSE: CNS) has announced its schedule for the release of fourth quarter and full year 2024 financial results. The company will release its earnings report after market close on Wednesday, January 22, 2025, followed by a conference call on Thursday, January 23, 2025, at 10:00 a.m. ET.
The conference call will feature CEO Joseph Harvey, CFO Raja Dakkuri, and head of multi-asset solutions Jeffrey Palma, who will discuss operating results and outlook. Investors and analysts can access the call via webcast or telephone, with dial-in numbers provided for both U.S. (800-715-9871) and international (+1-646-307-1963) participants using passcode 8494569.
A two-week replay will be available, and the webcast will be archived on the company website for one month.
Cohen & Steers (NYSE: CNS) reported preliminary assets under management (AUM) of $85.8 billion as of December 31, 2024, marking a $5.6 billion decrease from November 30, 2024's $91.4 billion. The decline was primarily attributed to:
- Market depreciation of $5.7 billion
- Distributions of $396 million
- Partially offset by net inflows of $504 million
The AUM breakdown shows Open-end Funds at $41.0 billion, Institutional Accounts at $33.6 billion, and Closed-end Funds at $11.3 billion. Within Institutional Accounts, Advisory accounts held $19.3 billion, Japan Subadvisory $8.5 billion, and Subadvisory excluding Japan $5.8 billion.
Cohen & Steers Income Opportunities REIT (CNSREIT) has acquired Bridgepointe Shopping Center in San Mateo, California, through a joint venture with Sterling Organization. The 231,700 square foot open-air shopping center is fully leased and features tenants including Total Wine & More, Nordstrom Rack, Ross Dress for Less, and Marshalls. The center is shadow anchored by top-performing Target and Home Depot stores, attracting 8.58 million visits annually.
Located in Silicon Valley, San Mateo County boasts the fourth highest median household income in the U.S. The area is expected to see employment growth at a 1.6% compound annual rate over the next 12 years, driven by life sciences and AI sectors. This marks CNSREIT's third acquisition with Sterling Organization and fourth open-air shopping center in their portfolio.
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%.
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