Cohen & Steers Inc

Cohen & Steers Income Opportunities REIT, Inc. announced the acquisition of Grand Canyon Crossing, a 99%-occupied shopping center anchored by a Walmart Supercenter in Phoenix, Arizona. The investment was made through the REIT's programmatic joint venture with the Sterling Organization, a real estate investment firm specializing in U.S. shopping centers. The property sits on 33 acres at the intersection of Bethany Home Road and 35th Avenue, and its 207,000-square-foot Walmart Supercenter, built in 2005, draws 3.7 million annual visitors, placing it among the top 1% of Walmart locations nationally. The center also includes national and regional tenants such as Harbor Freight, Starbucks, Wendy's, Jamba, and Sonic, and serves a dense three-mile trade area of approximately 220,000 residents with $12.3 billion in purchasing power. James S. Corl, Chief Executive Officer of CNSREIT and Head of the Private Real Estate Group at Cohen & Steers, said the center's extreme density is driving exceptional anchor sales and traffic while the existing in-line merchandising mix is not positioned to best monetize that traffic, providing the partnership a significant opportunity.

A private real estate fund managed by Cohen & Steers acquired Oak Hill Plaza, a retail center in southwest Austin, alongside Trademark Property Company, on August 31. The center is 92.5% occupied with tenants including Wells Fargo, Dollar Tree and AutoZone, and sits at the intersection of US-290 and State Highway 71, where a ten-year road overhaul is nearly complete. James Corl, who runs the firm's private real estate group, said the construction had hurt visibility, parking and access, and sees room to upgrade the center now that a nearly finished interchange is set to unlock a wealthy commuter corridor; about 60,000 people live within three miles, with median household income of $120,000 and a typical home value of $688,000. The deal sits against a supportive backdrop: when Cohen & Steers reported second-quarter results on July 17, adjusted earnings came in at $0.85 per share, up from $0.73 a year earlier, while assets under management rose about 8% to more than $100 billion on $1.3 billion of net inflows. The company, which oversees over $100 billion in assets, holds $219 million in cash and US Treasuries plus roughly $136 million in liquid seed investments, carries zero long-term debt, and posted an adjusted operating margin of 36.3% on trailing-twelve-month revenue of $583.9 million. Risks remain, including the US REIT strategy's second-quarter lag on cell tower holdings, modest advisory outflows, a tougher Japan market, and total operating expenses up 3% to $97 million.

Cohen & Steers reported August assets under management of $101.0 billion, a $1.5 billion sequential decline driven entirely by $1.9 billion in market depreciation and $155 million in distributions, while net client inflows of $528 million softened the drop. Open-end funds led the monthly inflows with $430 million, complemented by $119 million from subadvisory mandates. The August flows echo the firm's July 17 earnings report, when second-quarter net inflows touched $1.3 billion, adjusted earnings per share climbed to $0.85 from $0.73 a year prior, and operating margin expanded to 36.3 percent. CEO Joseph Harvey pointed to institutional mandate wins across Korea, Hong Kong and the Philippines, an active ETF suite exceeding $1 billion, and a REIT rally he said signals a broader capital rotation back into real estate. The performance record remains the weak spot, with only 41 percent of assets outperforming over the past year, which management blamed on the US REIT strategy's cell tower holdings amid slower carrier spending and satellite displacement worries. The stock trades at 18.45 times forward earnings, and short interest stands at 5.44 percent of the float.

Cohen & Steers, through its Real Estate Opportunities Fund, has acquired Oak Hill Plaza, a shopping center in Austin, Texas, in a joint venture with Trademark Property Company. The center is 92.5% occupied and anchored by necessity-based retailers including Wells Fargo, The Picklr, Pluckers, Dollar Tree, and Autozone. The property sits at a high-visibility intersection near completion of a major roadway improvement, serving an affluent area with a median household income of $120,000. Cohen & Steers plans to elevate the tenant mix and enhance the property's long-term value.

Cohen & Steers and DLC have acquired Royal Plaza, a grocery-anchored shopping center in Front Royal, Virginia, through a joint venture with the Cohen & Steers Real Estate Opportunities Fund. The property is 92% occupied and anchored by the second highest-performing Martin's grocery store in the chain, while also shadow-anchored by Rural King, whose Front Royal location ranks as the retailer's top-performing store nationwide. James S. Corl, Head of the Private Real Estate Group at Cohen & Steers, said the anchor tenants generate exceptional traffic and tenant sales, presenting an opportunity to bring in top national retailers to optimize the merchandising mix. Royal Plaza benefits from a large trade area, with Martin's drawing grocery traffic from 10 to 15 miles and Rural King attracting customers from as far as 50 miles, while the surrounding 10-mile trade area includes approximately 50,000 residents with annual growth significantly outpacing the U.S. average.

Cohen & Steers Inc announced a total dividend of $0.67 per share, with the ex-dividend date set for 2026-08-10 and payment on 2026-08-20. The company has maintained a consistent dividend payment record since 2004 and has increased its dividend each year since 2009, earning status as a dividend achiever. As of today, the 12-month trailing dividend yield is 3.09% and the forward yield is 3.21%, while the five-year annual dividend growth rate stands at 9.50%. However, the dividend payout ratio is 0.79 as of 2026-06-30, and recent growth metrics show negative trends, with three-year revenue and EPS growth rates of approximately -1.20% and -5.80% per year, respectively, raising questions about long-term sustainability.

Cohen & Steers reported higher second-quarter 2026 adjusted earnings and assets under management, driven by improving demand for real estate, infrastructure, preferred securities and broader real assets strategies. Adjusted earnings per share rose to $0.85 from $0.79 in the prior quarter and $0.73 a year earlier, while net income increased 8% sequentially and 18% year-over-year to $44 million. Assets under management climbed about 8% to more than $100 billion, supported by $1.3 billion of net inflows, which Chief Executive Officer Joseph Harvey said was the highest level in four and a half years. Revenue grew 5% from the prior quarter to $152 million, and the adjusted operating margin improved to 36.3% as expense growth lagged revenue gains. The firm ended the quarter with $219 million of cash and U.S. Treasuries and about $136 million of liquid seed investments, providing what Chief Financial Officer Amit Muni called substantial financial flexibility.

CIBC Global Asset Management announced portfolio sub-advisory changes to the CIBC Real Assets Private Pool, effective on or about July 1, 2026. Portfolio management responsibilities will be assumed by Cohen & Steers Capital Management Inc. and Maple-Brown Abbott Ltd. The addition of these two firms is intended to complement the Pool and support CIBC Global Asset Management's commitment to delivering strong results for clients.

Custody bank stocks delivered a strong first quarter, with the 16 companies tracked by StockStory beating analysts' consensus revenue estimates by 2.5% on average. Cohen & Steers reported revenues of $145.6 million, up 8.3% year on year and exceeding expectations by 1.6%, though it was a mixed quarter overall. Franklin Resources stood out as the best performer, with revenues of $2.29 billion, an 8.7% increase that surpassed estimates by 11.8%, while Hamilton Lane was the slowest, with revenues of $193.6 million, down 2.2% and missing estimates by 3.4%. BNY posted revenues of $5.41 billion, up 13.8% and beating estimates by 4.3%, and Affiliated Managers Group reported revenues of $544.9 million, up 9.7% but missing estimates by 1.8%. Share prices of the group have been resilient, rising 8% on average since the latest earnings results.