Cohen & Steers Inc. - CNS STOCK NEWS

Cohen & Steers (NYSE: CNS) reported preliminary assets under management (AUM) of $80.7 billion as of June 30, 2024, marking an increase of $221 million from May 31, 2024. This growth includes market appreciation of $771 million, countered by distributions of $372 million and net outflows of $178 million. By investment vehicle, institutional advisory accounts saw a minor increase to $18.4 billion, while Japan subadvisory grew to $8.3 billion. However, subadvisory excluding Japan decreased to $5.5 billion. Open-end funds experienced inflows, reaching $37.5 billion, and closed-end funds slightly declined to $11.0 billion.

On June 28, 2024, Cohen & Steers Infrastructure Fund (UTF) announced the sources of its monthly distribution. The Fund follows a managed distribution policy to provide regular monthly distributions, which may include long-term capital gains, short-term capital gains, net investment income, and return of capital. The June 2024 distribution per share is $0.155, comprising $0.0727 from net investment income (46.90%) and $0.0823 from long-term capital gains (53.10%). Year-to-date distributions per share amount to $0.930, with 48.76% from net investment income and 51.24% from long-term capital gains. The Fund's year-to-date cumulative total return is 6.68%, and the five-year average annual total return is 6.23%. The current annualized distribution rate stands at 7.88%. Shareholders will receive final tax reporting on Form 1099-DIV.

Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) has announced details regarding its managed distribution policy and the sources of its distributions for June 28, 2024. Established in December 2017, the policy aims to deliver long-term total returns through fixed monthly distributions. It provides flexibility for the fund to realize and distribute capital gains regularly. The June 2024 distribution of $0.1360 per share is entirely sourced from net investment income, with no contributions from capital gains or return of capital.

The year-to-date cumulative distribution per share amounts to $0.8160, also fully from net investment income. The fund's year-to-date cumulative total return is 1.25%, with a 4.01% cumulative distribution rate. Over the past five years, the average annual total return is 5.91%, and the current annualized distribution rate stands at 8.02%.

Final tax characteristics of distributions will be provided via Form 1099-DIV post-calendar year-end. Shareholders are advised that these figures are estimates and subject to change based on the fund's investment performance and tax regulations.

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.