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) has appointed John T. Moore as the new Senior Vice President and Head of Private Wealth Solutions. With 30 years of experience in financial services, Moore previously served at Franklin Templeton, overseeing alternative solutions distribution. He will lead the expansion of the firm's private real estate business across U.S. wealth channels, reporting to Emily Conte, Executive Vice President. The management change is expected to strengthen the firm's capabilities in private real estate and alternatives, enhancing support for financial advisors and their clients' portfolios.
Cohen & Steers (NYSE: CNS) is set to announce its fourth quarter and full year 2022 operating results on January 25, 2023, after market close. An earnings presentation will be accessible on the firm's website. A subsequent conference call will take place on January 26, 2023, at 10:00 a.m. ET, featuring CEO Joseph Harvey, CFO Matthew Stadler, and CIO Jon Cheigh to discuss results and outlook. Investors can participate via phone or webcast, with a replay available for two weeks. Cohen & Steers specializes in real assets and alternative income investments, maintaining a global presence with offices in major cities like London, Dublin, Hong Kong, and Tokyo.
Cohen & Steers has appointed Kimberly LaPointe as the new Executive Vice President and Head of the Wealth Management Consulting Group. With 30 years of experience, LaPointe previously led PGIM Investments' expansion into Europe and Asia. Her role will focus on enhancing services in various channels, including RIA and private banking. CEO Joe Harvey emphasized the significance of her leadership during an anticipated shift towards real assets and alternative income. This strategic move is expected to bolster the firm's growth and strengthen its market position in the investment landscape.
Cohen & Steers reported preliminary assets under management of $80.4 billion as of December 31, 2022, representing a decrease of $3.8 billion from November 30, 2022. This decline was attributed to market depreciation of $2.6 billion, distributions totaling $887 million, and net outflows of $260 million.
Overall, the firm continues to specialize in real assets and alternative income management.
The Board of Directors of the Cohen & Steers Quality Income Realty Fund (NYSE: RQI) has announced a year-end capital gain distribution of $0.237 per share. This distribution, in addition to the regular monthly dividend, aims to fulfill the Fund's 2022 federal excise tax requirements. Important dates include the declaration on December 13, 2022, ex-date on December 27, 2022, record date on December 28, 2022, and payment date on January 9, 2023. The Fund's managed distribution policy allows for flexibility in distributing long-term capital gains, but the Board may change this policy at any time.
The Board of Directors of Cohen & Steers Total Return Realty Fund (NYSE: RFI) announced a year-end capital gain distribution of $0.266 per share, payable on January 9, 2023. This distribution is intended to meet the Fund's 2022 distribution requirement for federal excise tax purposes. Shareholders will receive information regarding the tax characteristics of the distributions via Form 1099-DIV. The Fund has a managed distribution policy aiming for regular distributions based on its long-term gains, but the policy may be altered by the Board, impacting share prices.
Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) announced the sources for its special distribution, to be paid on December 15, 2022. The Fund has a managed distribution policy aimed at providing regular monthly distributions while allowing flexibility for long-term capital gains. For December 2022, the total current distribution is $1.0714 per share, composed of $0.5531 net investment income and $0.5183 net realized short-term capital gains. The year-to-date cumulative total return is -19.54%, while the cumulative distribution rate stands at 12.25%.
The Boards of Directors of the Cohen & Steers Closed-End Funds announced monthly distributions for January, February, and March 2023. Key dividends are as follows: FOF: $0.087, LDP: $0.135, PSF: $0.135, PTA: $0.134, RFI: $0.080, RLTY: $0.104, RNP: $0.136, RQI: $0.080, UTF: $0.155. Notably, the Cohen & Steers Tax-Advantaged Preferred Securities and Income Fund has increased its monthly distribution by $0.004 to $0.134 per share, reflecting current market conditions.
Summary not available.
Cohen & Steers reported preliminary assets under management of $84.2 billion as of November 30, 2022, showing an increase of $4.2 billion from October. The gain was primarily driven by market appreciation of $4.6 billion, although net outflows accounted for $252 million and distributions were $177 million.
This reflects the company's ongoing market dynamics and investor behavior in a challenging economic environment.