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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.
Cohen & Steers REIT and Preferred and Income Fund, Inc. (NYSE: RNP) has announced its distribution for September 2024, payable on September 30, 2024. The Fund follows a managed distribution policy to deliver long-term total return potential through regular monthly distributions. Key points:
- The current distribution is $0.1360 per share, sourced entirely from Net Investment Income.
- Year-to-date distributions total $1.2240 per share, also sourced entirely from Net Investment Income.
- The Fund's Year-to-date Cumulative Total Return (Jan 1 - Aug 31, 2024) is 12.99%.
- The Cumulative Distribution Rate for the current fiscal period is 5.50%.
- The Fund's Average Annual Total Return for the five-year period ending August 31, 2024, is 6.39%.
- The Current Annualized Distribution Rate is 7.33%.
Shareholders are advised not to use this information for tax preparation and to await Form 1099-DIV for accurate tax reporting.
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) has announced its distribution sources for September 30, 2024, and cumulative distributions for the fiscal year-to-date. The Fund follows a managed distribution policy to deliver long-term total return potential through regular monthly distributions. For September 2024, the distribution of $0.0800 per share comprises 61.88% from net investment income and 38.12% from net realized long-term capital gains.
The Fund's year-to-date cumulative total return from January 1 to August 31, 2024, is 10.16%, with a cumulative distribution rate of 5.77%. The five-year average annual total return ending August 31, 2024, is 5.61%, with a current annualized distribution rate of 7.70%. Shareholders are advised that the Fund may distribute more than its income and capital gains, resulting in a return of capital, which is not taxable but reduces the shareholder's tax basis in Fund shares.
Cohen & Steers (NYSE: CNS), a leading real assets investment manager, has joined the SUBSCRIBE alternative investment platform to expand access to its private real estate strategies for the private wealth channel. This partnership will streamline investment and operational processes for clients and increase availability of Cohen & Steers' alternative products, including the Cohen & Steers Income Opportunities REIT (CNSREIT), to financial advisors using SUBSCRIBE.
The collaboration aims to leverage what Cohen & Steers believes is a generational opportunity in the private commercial real estate market. SUBSCRIBE's technology will automate various operational tasks, such as investor onboarding, subscription documents, and transaction workflow management, supporting the full investment lifecycle. This partnership aligns with SUBSCRIBE's vision to digitally transform the alternative investments industry.
Cohen & Steers (NYSE: CNS) reported preliminary assets under management (AUM) of $88.1 billion as of August 31, 2024, a $3.5 billion increase from July 31, 2024. This growth was primarily driven by market appreciation of $3.7 billion and net inflows of $8 million, partially offset by distributions of $152 million.
The AUM breakdown shows: Institutional Accounts at $35.4 billion, Open-end Funds at $41.0 billion, and Closed-end Funds at $11.7 billion. Notably, Japan Subadvisory accounts experienced the highest net inflows of $25 million, while Subadvisory excluding Japan saw the largest net outflows of $45 million.
Cohen & Steers Closed-End Opportunity Fund, Inc. (NYSE: FOF) has announced its distribution for August 2024, to be paid on August 30, 2024. The Fund follows a managed distribution policy aimed at delivering long-term total returns through regular monthly distributions. For August 2024, the distribution is estimated to be:
- $0.0348 (40.00%) from Net Investment Income
- $0.0522 (60.00%) from Return of Capital
The total distribution is $0.0870 per share. Year-to-date, the Fund has distributed $0.6960 per share. The Fund's year-to-date cumulative total return is 15.53%, with a cumulative distribution rate of 5.87%. The Fund's five-year average annual total return is 6.64%, with a current annualized distribution rate of 8.81%.
Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) has announced its distribution for August 30, 2024, under its managed distribution policy. The policy aims to deliver the Fund's long-term total return potential through regular monthly distributions. The current distribution of $0.0800 per share includes:
- 14.38% from Net Investment Income
- 6.24% from Net Realized Short-Term Capital Gains
- 38.38% from Net Realized Long-Term Capital Gains
- 41.00% from Return of Capital
The Fund's Year-to-date Cumulative Total Return is 5.34%, with a Cumulative Distribution Rate of 5.33%. The Five-year Average Annual Total Return is 5.67%, and the Current Annualized Distribution Rate is 8.00%. Shareholders are advised that the distribution may include a return of capital, which is not taxable but reduces the shareholder's tax basis in Fund shares.
Cohen & Steers REIT and Preferred and Income Fund, Inc. (NYSE: RNP) has announced its distribution for August 2024, to be paid on August 30, 2024. The Fund follows a managed distribution policy implemented in December 2017, aiming to deliver long-term total return potential through regular monthly distributions. For August 2024, the distribution is $0.1360 per share, entirely sourced from net investment income. Year-to-date distributions total $1.0880 per share. The Fund's year-to-date cumulative total return is 8.07%, with a cumulative distribution rate of 5.08%. The Fund's five-year average annual total return is 6.39%, with a current annualized distribution rate of 7.62%.
Cohen & Steers Quality Income Realty Fund, Inc. (NYSE: RQI) has announced its distribution for August 2024, to be paid on August 30, 2024. The Fund follows a managed distribution policy aimed at delivering long-term total return through regular monthly distributions. For August 2024, the distribution is $0.0800 per share, with 93.37% coming from net realized long-term capital gains and 6.63% from net investment income.
The Fund's year-to-date cumulative total return from January 1 to July 31, 2024, is 6.94%, with a cumulative distribution rate of 4.81%. The Fund's five-year average annual total return ending July 31, 2024, is 6.76%, with a current annualized distribution rate of 7.21%. Shareholders are advised that the Fund may be distributing more than its income and capital gains, potentially including a return of capital.
Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF) has announced its distribution sources for August 30, 2024, and cumulative distributions for the fiscal year-to-date. The Fund follows a managed distribution policy to deliver long-term total return potential through regular monthly distributions. For August 2024, the distribution of $0.1550 per share comprises 52.32% from net investment income and 47.68% from net realized long-term capital gains. Year-to-date, the Fund's distributions consist of 43.53% net investment income and 56.47% net realized long-term capital gains. The Fund's year-to-date cumulative total return is 10.94%, with a cumulative distribution rate of 5.12%. The five-year average annual total return ending July 31, 2024, is 6.12%, with a current annualized distribution rate of 7.68%.
Cohen & Steers, Inc. (NYSE: CNS) has appointed Lisa Dolly to its Board of Directors. Ms. Dolly, former CEO of Pershing , will also serve on the Board's Audit, Compensation, and Nominating and Corporate Governance Committees. With over 30 years of experience at Pershing, including senior leadership roles, Ms. Dolly brings extensive expertise to CNS. Martin Cohen, Chairman of the Board, and Joseph Harvey, CEO & President, expressed enthusiasm about Ms. Dolly's appointment, highlighting her diverse leadership experience and industry knowledge as valuable assets for the firm and its shareholders.
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