NEW YORK - Cohen & Steers, Inc. (NYSE: CNS), a global investment manager, disclosed a preliminary figure for its assets under management (AUM) as of October 31, 2024, amounting to $89.7 billion. This represents a decline from the $91.8 billion reported at the end of September 2024. The decrease of $2.0 billion in AUM is attributed to market depreciation and distributions, partially offset by net inflows.
The detailed breakdown shows that market depreciation accounted for a $2.3 billion reduction, while distributions totaled $150 million. These downward pressures were somewhat mitigated by net inflows of $454 million. Institutional Accounts experienced a net decrease, with Advisory, Japan Subadvisory, and Subadvisory excluding Japan all reporting reductions in AUM due to market depreciation and minor outflows. Open-end Funds and Closed-end Funds also saw decreases in AUM, although Open-end Funds benefited from positive net flows.
Cohen & Steers specializes in real assets and alternative income, managing investments across various sectors, including real estate, preferred securities, and infrastructure. The firm, established in 1986, operates globally with its headquarters in New York City and additional offices in key financial centers around the world.
The company's AUM performance is a key indicator of its financial health and market position, reflecting both the market's volatility and the firm's ability to attract and retain investors. Cohen & Steers' report on its October AUM provides investors with a snapshot of the company's current standing in the financial landscape.
This financial update is based on a press release statement from Cohen & Steers, Inc.
In other recent news, Cohen & Steers, a global investment management firm, has reported significant developments. The company announced the appointment of Karen Wilson Thissen to its Board of Directors, with immediate effect. Wilson Thissen brings extensive legal and governance experience, having held executive roles at General Mills (NYSE:GIS) and Ameriprise Financial (NYSE:AMP).
In financial updates, Cohen & Steers revealed positive Q3 earnings growth, with earnings per share rising to $0.77 from $0.68, and revenues increasing to $133 million from $122 million. This period marked the company's first positive net inflows since Q1 2022, primarily driven by robust U.S. REIT strategies. The firm's global infrastructure fund also performed notably well, registering a 33.3% return over the past year.
The company has announced a Q4 cash dividend of $0.59 per share, payable to stockholders of record as of November 18, 2024. This reflects the firm's commitment to providing returns to its shareholders.
Looking ahead, Cohen & Steers anticipates stable compensation ratios and a 6-7% increase in G&A expenses for the year. The company also expects $1 billion in redemptions, split between two quarters. Despite some challenges, including outflows in Japan sub-advisory, the firm remains focused on leveraging its expertise in real estate and preferred securities.
InvestingPro Insights
While Cohen & Steers reported a decline in assets under management for October 2024, a closer look at InvestingPro data reveals some interesting insights about the company's financial performance and market position.
According to InvestingPro data, Cohen & Steers boasts a market capitalization of $5.31 billion, reflecting its significant presence in the investment management industry. The company's P/E ratio stands at 38.71, indicating that investors are willing to pay a premium for its shares, possibly due to expectations of future growth or the company's strong market position.
One InvestingPro Tip highlights that Cohen & Steers has maintained dividend payments for 21 consecutive years, demonstrating a commitment to returning value to shareholders even in challenging market conditions. This consistent dividend policy may be particularly appealing to income-focused investors in the current economic climate.
Another relevant InvestingPro Tip notes that the company has shown a strong return over the last three months. This aligns with the reported net inflows of $454 million in October, suggesting that Cohen & Steers continues to attract investor capital despite market depreciation.
For readers interested in a more comprehensive analysis, InvestingPro offers 10 additional tips that could provide further insights into Cohen & Steers' financial health and market prospects.
NEW YORK - Cohen & Steers, Inc. (NYSE: CNS), a global investment manager, disclosed a preliminary figure for its assets under management (AUM) as of October 31, 2024, amounting to $89.7 billion. This represents a decline from the $91.8 billion reported at the end of September 2024. The decrease of $2.0 billion in AUM is attributed to market depreciation and distributions, partially offset by net inflows.
The detailed breakdown shows that market depreciation accounted for a $2.3 billion reduction, while distributions totaled $150 million. These downward pressures were somewhat mitigated by net inflows of $454 million. Institutional Accounts experienced a net decrease, with Advisory, Japan Subadvisory, and Subadvisory excluding Japan all reporting reductions in AUM due to market depreciation and minor outflows. Open-end Funds and Closed-end Funds also saw decreases in AUM, although Open-end Funds benefited from positive net flows.
Cohen & Steers specializes in real assets and alternative income, managing investments across various sectors, including real estate, preferred securities, and infrastructure. The firm, established in 1986, operates globally with its headquarters in New York City and additional offices in key financial centers around the world.
The company's AUM performance is a key indicator of its financial health and market position, reflecting both the market's volatility and the firm's ability to attract and retain investors. Cohen & Steers' report on its October AUM provides investors with a snapshot of the company's current standing in the financial landscape.
This financial update is based on a press release statement from Cohen & Steers, Inc.
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