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.
The Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) announced distribution details for shareholders, effective February 28, 2022. The Fund follows a managed distribution policy, allowing regular monthly distributions based on long-term capital gains. Current distributions are primarily sourced from long-term capital gains, with no net investment income reported. Year-to-date, the Fund's cumulative total return is -6.09%, while the current annualized distribution rate is 5.97%. Shareholders will receive Form 1099-DIV for tax reporting purposes, detailing actual distribution amounts.
This press release informs shareholders of Cohen & Steers Quality Income Realty Fund (NYSE: RQI) about the distribution sources for the payment scheduled on February 28, 2022. The Fund follows a managed distribution policy initiated in December 2012, allowing for monthly distributions based on realized capital gains. The current distribution totals $0.08 per share, comprising entirely of long-term capital gains. Year-to-date cumulative total return as of January 31, 2022, is -7.93%, while the average annual total return over five years stands at 12.80%. Tax reporting will be provided via Form 1099-DIV.
The Cohen & Steers Infrastructure Fund (NYSE: UTF) announced distribution sources for its February 28, 2022 payout. The fund follows a managed distribution policy to provide regular monthly distributions based on various income sources. For February 2022, the total distribution per share is $0.1550, entirely derived from net realized long-term capital gains. As of January 31, 2022, year-to-date cumulative total return is -4.58%, while the average annual total return over the past five years stands at 12.01%. Investors should refer to Form 1099-DIV for tax reporting.
Cohen & Steers announced the initial public offering of the Cohen & Steers Real Estate Opportunities and Income Fund, raising approximately $305 million by offering 15,250,000 common shares at $20 each. The offering includes an option for underwriters to purchase an additional 2,287,500 shares, potentially increasing proceeds to $350.75 million. The Fund aims for high current income and capital appreciation, investing at least 80% of managed assets in real estate-related investments. Shares began trading on February 24, 2022 under the symbol RLTY.
The Board of Directors of Cohen & Steers (NYSE: CNS) has declared a cash dividend of $0.55 per share for Q1 2022, marking a 22.2% increase from the previous $0.45 per share. This dividend will be payable on March 17, 2022 to stockholders of record by the close of business on March 7, 2022. Cohen & Steers specializes in real assets and alternative income, operating globally with headquarters in New York City.
Cohen & Steers (NYSE: CNS) and CP Group have finalized a joint venture acquisition of Buckhead Centre in Atlanta, Georgia. This two-building office project spans 169,000 square feet and is positioned on 4.5 acres in a prime location, boasting significant redevelopment potential. The acquisition aims to leverage Atlanta's in-migration trends, enhancing occupancy and income prospects. James S. Corl from Cohen & Steers highlighted the appeal of the property due to its mix of suburban lifestyle and urban amenities, while CP Group has decades of successful partnership experience in real estate.
Cohen & Steers (NYSE: CNS) announced changes to its Global Realty Majors Portfolio Index (GRM) and International Realty Majors Portfolio Index (IRP), effective February 18, 2022. Merlin Properties SOCIMI SA (MRL.SM) has been added to both indexes, while Fabege AB (FABG.SS) has been removed. These modified, market capitalization-weighted indexes focus on leading global real estate securities and are calculated by Standard & Poor's. They serve as benchmarks for stock selection and derivatives.
On February 8, 2022, Cohen & Steers reported preliminary assets under management of $102.1 billion as of January 31, 2022, reflecting a decrease of $4.6 billion since December 31, 2021. This drop was primarily due to market depreciation of $5.4 billion and $200 million in distributions, partially balanced by net inflows of $999 million. The company specializes in real assets and alternative income strategies, including real estate and infrastructure.
This press release informs shareholders of Cohen & Steers Closed-End Opportunity Fund (NYSE: FOF) about the sources of the upcoming distribution on January 31, 2022. The Fund's managed distribution policy, implemented in December 2021, allows it to provide regular monthly distributions to shareholders, incorporating net investment income and return of capital. For January, the total distribution is $0.0870 per share, with 33.33% from net investment income and 66.67% as a return of capital. Shareholders will receive a Form 1099-DIV for tax reporting after the calendar year.
On January 28, 2022, Cohen & Steers Select Preferred and Income Fund (PSF) announced details regarding its upcoming distribution scheduled for January 31, 2022. The Fund follows a managed distribution policy initiated in December 2016, enabling greater flexibility in capital gains realization. January's distribution totals $0.1350 per share, derived from net investment income ($0.0897) and a return of capital ($0.0453). The Fund emphasizes potential changes in distribution sources and tax implications, advising shareholders to monitor updates on its website.