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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.
The Board of Directors of the Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund has announced its first monthly distribution of $0.130 per common share. This reflects an annualized distribution rate of 6.24% based on the $25.00 IPO price. Distributions for January, February, and March 2021 have also been scheduled. The Fund began trading on the NYSE on October 28, 2020, under ticker PTA. Shareholders will receive a Form 1099-DIV for tax purposes, as distributions may include capital gains and/or return of capital.
Cohen & Steers reported preliminary assets under management (AUM) of $76.7 billion as of November 30, 2020, reflecting an increase of $5.5 billion from the previous month. This growth was attributed to net inflows of $458 million and market appreciation of $5.2 billion, despite distributions totaling $221 million. The firm specializes in liquid real assets, including real estate securities and listed infrastructure.
Cohen & Steers (NYSE: CNS) has appointed Greg Bottjer as Executive Vice President and Head of Global Product Strategy & Development. Bottjer, with over 27 years in financial services, previously held leadership roles at Nuveen. His strategic position aims to enhance product offerings in real assets and alternative income, aligning with the firm’s goal to innovate and address client needs for diversifying returns and inflation protection. CEO Robert Steers and President Joseph Harvey emphasized their commitment to maintaining investment excellence and expanding capabilities under Bottjer's leadership.
Cohen & Steers MLP Income and Energy Opportunity Fund (MIE) announced the repurchase of 206,212 common shares since November 2, 2020, totaling 811,188 shares repurchased year-to-date as of November 30, 2020. This is part of a share repurchase program authorizing up to 10% of the Fund's outstanding shares within a calendar year. Since inception on March 26, 2013, total shares acquired reached 964,850. Investors are advised to evaluate the Fund's objectives, risks, and expenses before investing.
The Cohen & Steers Limited Duration Preferred and Income Fund (NYSE: LDP) announced the distribution details for November 30, 2020. Under a managed distribution policy initiated in December 2016, the Fund aims to provide regular monthly distributions, offering the flexibility to realize long-term capital gains. The current monthly distribution is $0.1430 per share, composed of net investment income, return of capital, and no short or long-term capital gains. The Year-to-date Cumulative Total Return for 2020 is -0.87%, while the Average Annual Total Return for the last five years is 7.33%.
Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) announced a distribution of $0.1240 per share, payable on November 30, 2020. This is part of a managed distribution policy initiated in December 2017, allowing regular monthly payouts. For 2020, the Fund's Year-to-date Cumulative Total Return is -7.39%, while the Cumulative Distribution Rate stands at 6.34%. Shareholders are advised that the final tax characteristics of the distributions will be reported on Form 1099-DIV after year-end.
Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF) announced its upcoming distribution set for November 30, 2020. The Fund employs a managed distribution policy since March 2015, aiming to provide regular monthly distributions based on its long-term total return potential. The current distribution of $0.1550 per share is entirely sourced from net investment income. Cumulative distributions for 2020 amount to $1.7050 per share. Notably, the Fund's year-to-date cumulative total return is -12.78%, while the cumulative distribution rate is 7.55%. Shareholders will receive a Form 1099-DIV for tax reporting in the following year.
The Cohen & Steers Quality Income Realty Fund (NYSE: RQI) announced the sources of its distribution, set for November 30, 2020. The managed distribution policy, in place since December 2012, aims to provide steady monthly distributions while allowing for long-term capital gains realization.
In November 2020, the total monthly distribution is $0.0800 per share, with 27.13% from net investment income and 72.87% from return of capital. Year-to-date returns show a -15.42% cumulative total return, contrasted with a 7.55% cumulative distribution rate.
Cohen & Steers Total Return Realty Fund, RFI, announced its distribution sources for the upcoming payment on November 30, 2020. The Fund employs a managed distribution policy since December 2011, allowing for flexibility in distributing monthly income and capital gains. For November 2020, the total distribution amounts to $0.0800 per share, which includes $0.0239 from net investment income and $0.0561 from net realized long-term capital gains. The fiscal year-to-date cumulative total return is reported at -9.57%, while the cumulative distribution rate stands at 7.32%.
The press release from Cohen & Steers Select Preferred and Income Fund (PSF) details the distribution to be paid on November 30, 2020, under its managed distribution policy initiated in December 2016. The monthly distributions may consist of net investment income, capital gains, or return of capital. For November 2020, the total distribution per share is $0.1570, with 80.96% sourced from net investment income. The Fund's year-to-date cumulative total return is -0.91%, with a cumulative distribution rate of 7.17% as of October 31, 2020.
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