Recap: Cohen & Steers Q3 Earnings

Shares of Cohen & Steers CNS were flat in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were up 3.08% year over year to $0.67, which beat the estimate of $0.60.

Revenue of $111,159,000 higher by 5.90% from the same period last year, which beat the estimate of $106,070,000.

Outlook

Cohen & Steers hasn't issued any earnings guidance for the time being.

Cohen & Steers hasn't issued any revenue guidance for the time being.

Technicals

52-week high: $78.23

52-week low: $33.52

Price action over last quarter: down 10.40%

Company Overview

Cohen & Steers is a niche asset manager concentrating on real estate securities. The firm invests mainly in the equity shares of real estate investment trusts, with holdings in domestic and international real estate securities accounting for around 62% of its $66.3 billion in managed assets at the end of June 2020. Cohen & Steers also manages portfolios dedicated to preferred securities, utilities stocks, and other high-yield offerings. It expects to balance distribution among its closed-end mutual funds, open-end mutual funds, and institutional accounts over time. During the second quarter of 2020, the firm garnered 44% (28%) of its assets under management (base management fees) from institutional clients, 43% (52%) from open-end funds, and 13% (20%) from closed-end funds.