Welcome to our dedicated page for Cohen & Steers news (Ticker: CNS), a resource for investors and traders seeking the latest updates and insights on Cohen & Steers stock.
Cohen & Steers, Inc. (NYSE: CNS) is a global investment manager specializing in real assets and alternative income, with a focus on listed and private real estate, preferred securities, infrastructure, resource equities, commodities and multi-strategy solutions. Founded in 1986 and headquartered in New York City, the firm also maintains offices in London, Dublin, Hong Kong, Tokyo and Singapore, and regularly reports on its business through press releases and regulatory filings.
This news page aggregates company announcements and updates related to Cohen & Steers and its investment vehicles. Readers can find information on preliminary assets under management and net flows, where the firm breaks down AUM across institutional advisory and subadvisory accounts, open-end funds and closed-end funds, and explains the impact of market movements, net flows and distributions. The page also features notices for Cohen & Steers-managed closed-end funds such as UTF, RQI, RFI, RNP and FOF, including details on managed distribution policies and the estimated sources of monthly distributions.
In addition to fund-related disclosures, the news feed includes corporate developments such as leadership appointments, regional management changes and updates on the firm’s private real estate operations. Earnings release schedules and information about upcoming conference calls are also highlighted, indicating when quarterly and full-year results will be available and how investors and analysts can access related materials.
By reviewing the items on this page, investors can see how Cohen & Steers communicates on topics like distribution composition, fund performance metrics, assets under management trends and organizational changes. This historical record of press releases and notices provides context around the company’s activities in real assets and alternative income across its global platform.
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%.
The Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) has announced details regarding the sources of its upcoming monthly distribution on May 31, 2024. The Fund operates under a managed distribution policy, aiming to provide consistent monthly payouts, which may include long-term and short-term capital gains, net investment income, and return of capital. For May 2024, the distribution per share is $0.1360, exclusively from net investment income. Year-to-date, the total distribution per share is $0.6800, also solely from net investment income. The Fund's year-to-date cumulative total return is -4.12%, while the cumulative distribution rate is 3.51%. Over the past five years, the average annual total return is 4.95%, and the current annualized distribution rate is 8.42%. Shareholders are advised that the final tax characteristics of distributions will be provided in Form 1099-DIV at year-end.
Cohen & Steers Total Return Realty Fund (NYSE: RFI) announced details on the distribution to be paid on May 31, 2024, and cumulative distributions for the fiscal year. The Fund follows a managed distribution policy to deliver long-term total returns through fixed monthly distributions. Distributions may include capital gains, net investment income, or return of capital. The Fund's Board can amend this policy anytime, potentially impacting the Fund's market price.
For May 2024, the distribution is $0.0800 per share, primarily from long-term capital gains (88.62%). Year-to-date, distributions total $0.4000 per share, with 58.74% being a return of capital. The Fund reported a YTD cumulative total return of -6.79% and a five-year average annual total return of 4.00% as of April 30, 2024. Investors should note that return of capital reduces their tax basis and is not immediately taxable.
Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) has announced the sources of its distribution to be paid on May 31, 2024. The distribution includes 35.86% from net investment income and 64.14% from return of capital. The Fund implemented a managed distribution policy in December 2021 to provide regular monthly distributions at a fixed rate per share. This policy allows for flexibility in realizing and distributing long-term capital gains. The Fund's year-to-date cumulative total return through April 30, 2024, is 5.92%, with a cumulative distribution rate of 3.92%, and a five-year average annual total return of 5.43%. The policy may be amended or terminated by the Board of Directors, potentially affecting the market price of the Fund's shares. Shareholders will receive detailed tax information on Form 1099-DIV after the calendar year-end.