Cohen & Steers Inc. - CNS STOCK NEWS

The Cohen & Steers Quality Income Realty Fund (RQI) announced details of its distribution sources for June 28, 2024, and cumulative year-to-date distributions. Implemented since December 2012, the Fund's managed distribution policy aims to provide consistent monthly returns through capital gains and net investment income, which may include returns of capital. The June distribution of $0.0800 per share is sourced entirely from net investment income, while year-to-date distributions of $0.4800 per share include 35.56% from net investment income, 24.59% from long-term capital gains, and 39.85% from return of capital. The Fund's year-to-date cumulative total return is -2.46%, with a cumulative distribution rate of 3.90%. Over the past five years, the average annual total return is 5.57%, with a current annualized distribution rate of 7.80%. Investors are advised to refer to official tax documents for accurate tax reporting.

Cohen & Steers Total Return Realty Fund (RFI) announced the breakdown of its June 28, 2024 distribution and cumulative distributions for the fiscal year. The Fund uses a managed distribution policy to deliver consistent monthly payouts, combining long-term capital gains, short-term capital gains, net investment income, and return of capital. The June distribution per share is $0.0800, split into $0.0642 from net investment income and $0.0158 from long-term capital gains. Year-to-date, distributions total $0.4800 per share. The policy, however, may be amended or terminated by the Board, potentially impacting the share price. The Fund's year-to-date cumulative total return is -1.80%, with a cumulative distribution rate of 4.23%. Over five years, the average annual total return is 4.80%, while the current annualized distribution rate is 8.47%.

Shareholders are advised not to draw performance conclusions solely from distributions. The actual tax characteristics will be provided in Form 1099-DIV at year-end.

Cohen & Steers Closed-End Opportunity Fund (NYSE: CNS) announced the sources of its distributions payable on June 28, 2024, under a managed distribution policy initiated in December 2021. The policy, which aims for steady monthly payouts, may include net investment income, capital gains, and return of capital. For June 2024, the distribution per share is $0.0870, composed of 47.59% net investment income and 52.41% return of capital.

Year-to-date, the Fund has paid $0.5220 per share, with 40.23% from net investment income and 59.77% from return of capital. Shareholders should be aware that a portion of their distributions may be a return of capital, which reduces their tax basis. The Fund’s year-to-date cumulative total return is 10.28%, while the five-year average annual total return stands at 6.92%.

The managed distribution policy can be revised by the Board at any time, potentially affecting the market price. Final tax characteristics of distributions will be reported in Form 1099-DIV after the calendar year ends.

Cohen & Steers (NYSE: CNS) announced the appointment of Raja Dakkuri as Executive Vice President and Chief Financial Officer, succeeding Matthew Stadler. Dakkuri, who joined on June 24, 2024, will oversee the firm's financial operations, strategy, and investor relations. He brings 30 years of experience, previously serving as Chief Risk Officer at Valley National Bancorp and holding key roles at Bank Leumi USA, Point72, Citigroup, and KPMG. Joseph Harvey, CEO and President, emphasized Dakkuri's role in advancing financial goals and operational efficiency. Stadler will stay on as Executive Vice President to assist with the transition before retiring after 19 years at Cohen & Steers and over 44 years in the asset management industry.

Cohen & Steers (NYSE: CNS) reported its preliminary assets under management (AUM) for May 2024, totaling $80.5 billion as of May 31, 2024, up from $77.2 billion in April 2024.

This represents an increase of $3.3 billion primarily due to market appreciation of $3.6 billion. However, this was partly offset by distributions of $150 million and net outflows amounting to $93 million.

By investment vehicle, institutional accounts saw a growth to $32.1 billion, open-end funds to $37.3 billion, and closed-end funds to $11.1 billion.

Cohen & Steers has appointed Daniel Noonan as Executive Vice President and Head of the Wealth Management Consulting Group, effective June 5, 2024.

With over 20 years of experience, Noonan will lead teams focusing on RIAs, broker-dealers, U.S. private banks, multi-family offices, OCIO, and retirement channels. He reports to Dan Charles, Head of Global Distribution.

Noonan previously served as Senior Managing Director and Head of Enterprise Wealth and Private Capital Group at Nuveen. He also held leadership roles at PIMCO and State Street Global Advisors.

CEO Joe Harvey highlighted the firm's strategy to leverage real assets to address higher inflation, interest rates, and increased market volatility, aiming for attractive risk-adjusted returns and diversification.

Cohen & Steers (NYSE: CNS) and DLC Management have acquired a two-property open-air shopping center complex in Fayetteville, Arkansas, comprising Spring Creek Centre and Steele Crossing. The properties cover 403,000 sq ft and feature major tenants like TJ Maxx, Ulta, Best Buy, and Kohl's, achieving a 95% occupancy rate. Tenant-owned anchors include Walmart, Home Depot, and Target. The region is experiencing rapid growth, with the population expanding at 4.5 times the U.S. average. The Milken Institute ranked Fayetteville as the 7th Best Performing City in the U.S. in 2024. The centers are strategically located near three major highways, enhancing traffic and accessibility.

The Cohen & Steers Infrastructure Fund (NYSE: UTF) announced the sources of its distribution scheduled for May 31, 2024, and cumulative distributions paid year-to-date. The Fund operates under a managed distribution policy for regular monthly payouts, aimed at realizing long-term capital gains and distributing them throughout the year. The May 2024 distribution includes $0.1359 per share from net investment income and $0.0191 per share from long-term capital gains.

Year-to-date cumulative total return is 0.50%, with a cumulative distribution rate of 3.46%. The Fund's five-year average annual total return is 5.02%, and the current annualized distribution rate is 8.31%. Final tax characteristics of distributions will be provided on Form 1099-DIV after year-end.

Cohen & Steers Quality Income Realty Fund (NYSE: RQI) announced the sources of its May 31, 2024 distribution and cumulative distributions for the fiscal year. The managed distribution policy aims to provide regular monthly distributions at a fixed rate per share, which can include capital gains, net investment income, and return of capital. The fund's current distribution of $0.08 per share is entirely return of capital. Year-to-date, the distribution sources are 20.08% net investment income, 0.92% long-term capital gains, and 79% return of capital. The fund's Year-to-date Cumulative Total Return is -9.36%, while the Average Annual Total Return over five years is 4.34%. The Current Annualized Distribution Rate stands at 8.34%.