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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 (NYSE: CNS) announced preliminary assets under management (AUM) of $70.1 billion as of July 31, 2020, up $3.8 billion from June 30, 2020. The increase was driven by net inflows of $1.3 billion and market appreciation of $2.7 billion, offset by distributions totaling $209 million. The firm's growth reflects a strong demand for its investment strategies, particularly in liquid real assets.
The Board of Directors of Cohen & Steers has declared a cash dividend of $0.39 per share for Q3 2020. This dividend is payable on August 27, 2020 to stockholders on record by the close of business on August 17, 2020. Founded in 1986, Cohen & Steers is a global investment manager based in New York City, focusing on liquid real assets such as real estate securities and infrastructure.
Cohen & Steers MLP Income and Energy Opportunity Fund (NYSE: MIE) reported the repurchase of 217,189 shares since June 22, 2020, raising the total for 2020 to 392,568 shares. The repurchase program allows for up to 10% of outstanding shares to be bought back within a year. As of July 31, 2020, a cumulative total of 546,230 shares have been repurchased since the program's inception on March 26, 2013. Investors should review the Fund's objectives and risks prior to investing.
Cohen & Steers Quality Income Realty Fund (RQI) announced the sources of its upcoming distribution, set for July 31, 2020. The fund's managed distribution policy, established in December 2012, aims to deliver long-term total returns through regular monthly distributions. For July 2020, the total distribution is estimated at $0.0800 per share, comprised of 95.88% short-term capital gains and 4.12% long-term capital gains. The Fund's year-to-date cumulative total return is -16.25%.
The Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF) announced its distribution sources for July 31, 2020. Since implementing a managed distribution policy in March 2015, the Fund aims for regular monthly distributions to enhance long-term returns. The current distribution is $0.1550 per share, consisting of net investment income, short-term gains, long-term gains, and a return of capital. Year-to-date cumulative total return is estimated at -14.84%, with a cumulative distribution rate of 4.79%. Investors are advised that returns of capital may impact tax reporting.
The Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) announced distribution details for shareholders on July 31, 2020. The Fund employs a managed distribution policy initiated in December 2017, which allows for monthly distributions to enhance long-term total return potential. For July 2020, the total current distribution is estimated at $0.1240 per share, sourced entirely from net realized short-term capital gains. Year-to-date, the cumulative distribution is $0.8680. The Fund reported a year-to-date cumulative total return of -10.87% as of June 30, 2020, alongside a cumulative distribution rate of 4.09%. The Fund's average annual total return over the past five years stands at 8.50%.
The press release from Cohen & Steers Total Return Realty Fund (NYSE: RFI) details the sources of its distribution scheduled for July 31, 2020. The Fund's managed distribution policy aims to provide regular monthly payouts to shareholders, which may include long-term capital gains, short-term capital gains, net investment income, and return of capital. As of July 2020, the total distribution is $0.0800 per share, with 93.88% coming from return of capital. Year-to-date cumulative total return is reported at -10.44%, while the average annual total return over five years stands at 6.73%. Investors should consider potential risks associated with the policy.
The press release from Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announces the distribution of $0.1570 per share to be paid on July 31, 2020. The Fund follows a managed distribution policy since December 2016, allowing it to provide consistent monthly payouts. The distribution sources include $0.1031 from net investment income, $0.0539 as return of capital, and no capital gains this month. Year-to-date, the cumulative distribution totals $1.1890. The Fund reported a year-to-date cumulative total return of -8.79% and an average annual total return of 6.15% over the past five years.
Cohen & Steers Limited Duration Preferred and Income Fund (LDP) announced the sources of its distribution to be paid on July 31, 2020. The managed distribution policy, implemented in December 2016, aims for regular monthly distributions at a fixed rate to enhance long-term total return. For July 2020, the distribution is $0.1430 per share, with 66.78% from net investment income and 33.22% as return of capital. Year-to-date cumulative total return is -9.13%, while the cumulative distribution rate is 4.67%. Shareholders will receive Form 1099-DIV indicating tax reporting details.
Cohen & Steers, Inc. (NYSE: CNS) reported its financial results for the second quarter ended June 30, 2020, showcasing significant metrics including net income and earnings per share. A conference call is scheduled for July 23, 2020, at 10:00 a.m. (ET) to discuss these results. The company specializes in liquid real assets such as real estate securities and natural resource equities, with its global footprint covering major cities including New York, London, and Tokyo. Investors can access the earnings presentation through the company’s website.
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