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 the appointment of Kazuya Yuasa as Senior Vice President, effective immediately. He will succeed Ken Itai as Head of Cohen Steers Japan Limited on January 1, 2023. Yuasa, who brings over 30 years of financial services experience, previously held a Managing Director position at Wellington Management, focusing on institutional relationship development. CEO Joe Harvey emphasized Yuasa's expertise in the Japanese market, predicting that his leadership will bolster the firm's growth in Japan.
The press release from Cohen & Steers Closed-End Opportunity Fund, Inc. (FOF) details the distribution sources for payments scheduled on September 30, 2022. Following a managed distribution policy initiated in December 2021, the Fund aims to provide steady monthly distributions. For September 2022, the total distribution per share is estimated at $0.0870, with net investment income making up 48.62% of this amount. However, a portion may be a return of capital, which could impact shareholders' tax obligations. The Fund's year-to-date cumulative total return is -15.28%, while the cumulative distribution rate is 6.90%.
The Cohen & Steers Limited Duration Preferred and Income Fund (LDP) announced its distribution payment schedule for September 30, 2022. Since December 2016, the Fund has operated under a managed distribution policy aimed at facilitating regular monthly distributions. The current distribution is estimated at $0.1350 per share, which comprises net investment income and potential return of capital. Year-to-date cumulative total return from January 1 to August 31, 2022, stands at -10.53%, while the cumulative distribution rate is 5.63%.
Cohen & Steers Select Preferred and Income Fund (NYSE: PSF) announced details regarding its upcoming distribution scheduled for September 30, 2022, under its managed distribution policy initiated in December 2016. This policy aims to offer regular monthly distributions while allowing the Fund flexibility to realize long-term capital gains. For September 2022, the total current distribution per share is $0.1350. Cumulative Year-to-Date distributions amount to $1.2150, marking a distribution rate of 5.61%. Notably, the Fund's Year-to-date cumulative total return is reported at -12.53%.
Cohen & Steers Total Return Realty Fund (RFI) announced its September 30, 2022 distributions, which include sources such as net investment income, net realized capital gains, and return of capital. The managed distribution policy implemented in December 2011 aims to provide shareholders with regular monthly distributions. As of August 31, 2022, the fund reported a year-to-date cumulative total return of -14.50% and a cumulative distribution rate of 5.39%. Shareholders will receive Form 1099-DIV detailing tax reporting for these distributions.
Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) has announced details regarding its September 30, 2022 distribution. The Fund follows a managed distribution policy aiming for long-term returns through predictable monthly distributions. The latest distribution is $0.1360 per share, comprised solely of long-term capital gains. Year-to-date, the Fund has a cumulative total return of -15.64% and a distribution rate of 5.19%. The Fund advises investors that distribution sources may change at year's end based on actual performance.
Cohen & Steers Quality Income Realty Fund (NYSE: RQI) announces its distribution payment sources for September 30, 2022. The Fund employs a managed distribution policy designed to provide monthly distributions at a fixed rate per share. The upcoming distribution includes $0.08 per share, fully derived from net realized short-term capital gains. The Fund reported a year-to-date cumulative total return of -17.07% as of August 31, 2022, alongside a cumulative distribution rate of 4.96%. The Board may amend the distribution policy, which could impact share prices.
The Cohen & Steers Infrastructure Fund (NYSE: UTF) announced the sources of its distribution to shareholders, payable on September 30, 2022. Implementing a managed distribution policy since March 2015, the Fund aims for steady monthly distributions. The current estimated total distribution is $0.1550 per share, primarily sourced from net investment income, long-term capital gains, and a zero return of capital. The Year-to-Date cumulative total return is reported at -3.06%, with a 5.33% cumulative distribution rate. Actual tax characteristics will be reported in Form 1099-DIV.
The Board of Directors for Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) declared a special distribution of $1.0714 per share, alongside its regular monthly dividend. This distribution, announced on Sept. 26, 2022, includes remaining income and realized capital gains from the previous year, necessary for maintaining the Fund's regulated investment company status. The distribution is taxable for 2022, with the ex-date set for Dec. 07, 2022 and payment due on Dec. 15, 2022.
Cohen & Steers has appointed Richard Hill as Senior Vice President and Head of Real Estate Strategy & Research, a position aimed at enhancing their real estate investment strategies. With over 21 years of experience, Hill previously led U.S. REIT Equity & CRE Debt Research at Morgan Stanley and is recognized as a top analyst. The newly formed Real Estate Strategy Group will focus on identifying long-term real estate trends to optimize client portfolios. Cohen & Steers manages over $56 billion in real estate assets globally.