Cohen & Steers, Inc. reports developments for a global investment manager focused on real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities and multi-strategy solutions. Company news commonly covers quarterly operating results, preliminary assets under management and net flows, cash dividends on common stock and leadership or distribution organization changes.
Updates also include changes to Cohen & Steers realty indexes, such as the Global Realty Majors Portfolio Index and International Realty Majors Portfolio Index, and notices tied to Cohen & Steers closed-end fund distribution policies.
Cohen & Steers (NYSE: CNS) announced changes to its Global Realty Majors Portfolio Index and International Realty Majors Portfolio Index, effective February 17, 2023. The British Land Company Plc. (BLND.LN) will be added to both indexes, while the Big Yellow Group Plc. (BYG.LN) will be removed. These indexes, which are adjusted for free-float and modified market capitalization, are critical in evaluating real estate equity securities worldwide. They serve as benchmarks for stock selection and performance measurement, with calculations performed independently by Standard & Poor's.
Cohen & Steers reported preliminary assets under management (AUM) of $87.3 billion as of January 31, 2023, up $6.9 billion from $80.4 billion on December 31, 2022. This increase resulted from net inflows of $322 million and market appreciation of $6.7 billion, partially offset by distributions totaling $190 million.
The firm specializes in real assets and alternative income, including real estate and preferred securities, among others.
The press release informs investors of the distribution sources for Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF) to be paid on January 31, 2023. The Fund has a managed distribution policy since March 2015, allowing for regular monthly distributions. For January 2023, the total distribution is $0.1550 per share, primarily sourced from a return of capital at 97.17%. The Year-to-date cumulative total return for fiscal 2022 was -7.42%, with a five-year average annual total return of 7.02%.
Investors are cautioned that returns of capital may not reflect the Fund's investment performance and that tax characteristics will be provided on Form 1099-DIV after the calendar year ends.
The press release from Cohen & Steers REIT and Preferred and Income Fund, Inc. (NYSE: RNP) details the distribution sources to be paid on January 31, 2023. The Fund has implemented a managed distribution policy since December 2017, allowing for flexibility in utilizing long-term capital gains. January's distribution includes $0.1360 per share, fully sourced from net realized long-term capital gains. Shareholders should note a Year-to-Date Cumulative Total Return of -22.57% for 2022 and a Current Annualized Distribution Rate of 8.12%. Distributions may vary based on market conditions, and final tax characteristics will be reported on Form 1099-DIV.
Cohen & Steers Quality Income Realty Fund (NYSE: RQI) announced its monthly distribution details for January 2023, confirming a total current distribution of $0.0800 per share. The Fund follows a managed distribution policy initiated in December 2012, allowing for flexibility in distributing long-term capital gains and returns to shareholders. For fiscal year-to-date, the distribution consists solely of long-term capital gains. Furthermore, the Year-to-date Cumulative Total Return stands at -26.83%, while the Average Annual Total Return over five years is 5.90%. Shareholders will receive a Form 1099-DIV for tax reporting purposes regarding these distributions.
The press release from Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) informs shareholders about the distribution payment scheduled for January 31, 2023. The Fund follows a managed distribution policy initiated in December 2011, aimed at providing regular monthly payments to shareholders. The total distribution for January is estimated at $0.0800 per share, solely derived from long-term capital gains. Year-to-date, the cumulative total return for fiscal year 2022 was -22.09%, with an average annual return of 5.23% over five years, raising concerns about investment performance despite a current distribution rate of 8.28%.
This press release from Cohen & Steers Select Preferred and Income Fund, Inc. (NYSE: PSF) details the payment of monthly distributions scheduled for January 31, 2023. The Fund has a managed distribution policy, allowing it to deliver consistent monthly distributions while potentially realizing long-term capital gains throughout the year. In the current distribution, $0.1350 per share is allocated from net investment income ($0.0963, 71.33%) and a return of capital ($0.0387, 28.67%). The Fund's cumulative total return for 2022 is reported at -14.89%, with an average annual total return of 1.90% over five years. Shareholders will receive tax reporting via Form 1099-DIV.
This press release from Cohen & Steers Limited Duration Preferred and Income Fund (LDP) outlines the distribution payments and sources for January 31, 2023. The Fund has employed a managed distribution policy since December 2016, aiming to deliver regular monthly distributions. The current distribution totals $0.1350 per share, comprised of $0.1112 in net investment income (82.37%) and $0.0238 as return of capital (17.63%). Notably, the Fund’s year-to-date cumulative total return for 2022 was -11.31%, while its average annual total return for the five-year period ending December 31, 2022, was 2.41%. Shareholders should note the potential tax implications of returns of capital.
This press release informs shareholders of Cohen & Steers Closed-End Opportunity Fund, FOF, about the distribution sources for payments on January 31, 2023, and cumulative distributions for the fiscal year. The Fund's managed distribution policy, initiated in December 2021, aims to provide long-term total return through monthly distributions, though it may be amended or suspended by the Board of Directors, which could affect share prices. The current monthly distribution is $0.0870, with a portion potentially classified as return of capital, reducing investors' tax basis. Year-to-date cumulative total return for 2022 is reported at -18.08%.
Cohen & Steers, Inc. (NYSE: CNS) announced its operating results for Q4 and the year ended December 31, 2022. The conference call to discuss these results is scheduled for January 26, 2023, at 10:00 a.m. ET. Chief executive officer Joseph Harvey, CFO Matthew Stadler, and CIO Jon Cheigh will lead the call, accessible to investors and analysts via telephone and webcast. Cohen & Steers specializes in real assets and alternative income management, with a global presence including offices in New York, London, Dublin, Hong Kong, and Tokyo. More information can be found on their website.