Latest news with #CohenSteers
Yahoo
4 days ago
- Business
- Yahoo
Cohen & Steers Inc (CNS) Q2 2025 Earnings Call Highlights: Navigating Market Volatility ...
Earnings Per Share (EPS): $0.73, compared to $0.75 sequentially. Revenue: Increased by 1.1% from the prior quarter to $135 million. Operating Margin: 33.6%, compared to 34.7% in the prior quarter. Ending Assets Under Management (AUM): $88.9 billion, up from $87.6 billion in the prior quarter. Effective Fee Rate: 59 basis points, consistent with the prior quarter. Total Expenses: Increased by 2.9% from the prior quarter. Compensation Ratio: Remained at 40.5%. Effective Tax Rate: 25.3% for the quarter. Liquidity: $323 million at quarter end, compared to $295 million in the prior quarter. Net Flows: Net outflows of $131 million after three consecutive quarters of inflows. Open-End Fund Inflows: $285 million, marking the fourth consecutive quarter of inflows. Unfunded Pipeline: Increased to $776 million from a low of $61 million. Warning! GuruFocus has detected 5 Warning Signs with CNS. Release Date: July 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Cohen & Steers Inc (NYSE:CNS) reported a slight increase in revenue for Q2 2025, up 1.1% from the prior quarter to $135 million. The company experienced higher average assets under management (AUM) compared to the prior quarter, with ending AUM increasing to $88.9 billion. Cohen & Steers Inc (NYSE:CNS) achieved strong investment performance, with 89% of AUM outperforming benchmarks in Q2 and 94% on a one-year basis. The company launched a new tactical listed and private real estate strategy, which is expected to offer higher returns and improved liquidity. Cohen & Steers Inc (NYSE:CNS) reported positive net inflows into open-end funds for the fourth consecutive quarter, totaling $285 million in Q2. Negative Points Earnings per share decreased slightly to $0.73 from $0.75 sequentially. Operating margin declined to 33.6% from 34.7% in the prior quarter. The company experienced net outflows of $131 million after three consecutive quarters of inflows. Total expenses increased by 2.9% from the prior quarter, driven by higher compensation and benefits costs. Institutional net outflows offset the positive net inflows into open-end funds. Q & A Highlights Q: Can you provide some insights into the Wealth Management channel's appetite for gross sales and which strategies are currently in favor? Also, do you expect any seasonality in the second half of the year? A: The Wealth channel is crucial for us, especially with the growth in the RIA segment. We're making progress in gaining allocations with sophisticated RIAs in real estate, multi-strategy real assets, and infrastructure. Gross sales were about 10% lower in Q2, partly due to seasonality and market volatility. However, we remain optimistic about driving real asset allocations, especially with our active ETFs and non-traded REITs. Q: How are the early days of marketing and selling your active ETFs going? Are they attracting new investors or existing ones? A: We're off to a strong start with active ETFs, attracting both new investors, like RIAs who only allocate to ETFs, and existing ones converting from open-end funds. This motivates us to continue launching new active ETFs in our core strategies to retain and grow assets. Q: What caused the decline in global listed infrastructure flows in Q2, and what are your views on the strategy for Q3? A: The decline was due to large redemptions from institutional investors rebalancing their allocations. Despite this, infrastructure remains a popular asset class, and we're investing in additional vehicles, including active ETFs, to capitalize on this interest. Q: Flows in global real estate were stronger than US real estate in Q2. Is this demand from US or international investors, and has there been a shift away from US real estate? A: There is growing interest in global strategies, partly due to international markets underperforming the US. Our pipeline includes more global allocators, and while there have been some concerns about US policy, it's not a broad trend. Q: Can you discuss geographical demand differences, particularly in the advisory side, and provide an update on the US advisory effort? A: The US remains the largest and most active market, with growing activity in Asia. Europe is slower, and while the Middle East was active a few years ago, it's less so now, though opportunities still exist. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
4 days ago
- Business
- Yahoo
Cohen & Steers Inc (CNS) Q2 2025 Earnings Call Highlights: Navigating Market Volatility ...
Earnings Per Share (EPS): $0.73, compared to $0.75 sequentially. Revenue: Increased by 1.1% from the prior quarter to $135 million. Operating Margin: 33.6%, compared to 34.7% in the prior quarter. Ending Assets Under Management (AUM): $88.9 billion, up from $87.6 billion in the prior quarter. Effective Fee Rate: 59 basis points, consistent with the prior quarter. Total Expenses: Increased by 2.9% from the prior quarter. Compensation Ratio: Remained at 40.5%. Effective Tax Rate: 25.3% for the quarter. Liquidity: $323 million at quarter end, compared to $295 million in the prior quarter. Net Flows: Net outflows of $131 million after three consecutive quarters of inflows. Open-End Fund Inflows: $285 million, marking the fourth consecutive quarter of inflows. Unfunded Pipeline: Increased to $776 million from a low of $61 million. Warning! GuruFocus has detected 5 Warning Signs with CNS. Release Date: July 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Cohen & Steers Inc (NYSE:CNS) reported a slight increase in revenue for Q2 2025, up 1.1% from the prior quarter to $135 million. The company experienced higher average assets under management (AUM) compared to the prior quarter, with ending AUM increasing to $88.9 billion. Cohen & Steers Inc (NYSE:CNS) achieved strong investment performance, with 89% of AUM outperforming benchmarks in Q2 and 94% on a one-year basis. The company launched a new tactical listed and private real estate strategy, which is expected to offer higher returns and improved liquidity. Cohen & Steers Inc (NYSE:CNS) reported positive net inflows into open-end funds for the fourth consecutive quarter, totaling $285 million in Q2. Negative Points Earnings per share decreased slightly to $0.73 from $0.75 sequentially. Operating margin declined to 33.6% from 34.7% in the prior quarter. The company experienced net outflows of $131 million after three consecutive quarters of inflows. Total expenses increased by 2.9% from the prior quarter, driven by higher compensation and benefits costs. Institutional net outflows offset the positive net inflows into open-end funds. Q & A Highlights Q: Can you provide some insights into the Wealth Management channel's appetite for gross sales and which strategies are currently in favor? Also, do you expect any seasonality in the second half of the year? A: The Wealth channel is crucial for us, especially with the growth in the RIA segment. We're making progress in gaining allocations with sophisticated RIAs in real estate, multi-strategy real assets, and infrastructure. Gross sales were about 10% lower in Q2, partly due to seasonality and market volatility. However, we remain optimistic about driving real asset allocations, especially with our active ETFs and non-traded REITs. Q: How are the early days of marketing and selling your active ETFs going? Are they attracting new investors or existing ones? A: We're off to a strong start with active ETFs, attracting both new investors, like RIAs who only allocate to ETFs, and existing ones converting from open-end funds. This motivates us to continue launching new active ETFs in our core strategies to retain and grow assets. Q: What caused the decline in global listed infrastructure flows in Q2, and what are your views on the strategy for Q3? A: The decline was due to large redemptions from institutional investors rebalancing their allocations. Despite this, infrastructure remains a popular asset class, and we're investing in additional vehicles, including active ETFs, to capitalize on this interest. Q: Flows in global real estate were stronger than US real estate in Q2. Is this demand from US or international investors, and has there been a shift away from US real estate? A: There is growing interest in global strategies, partly due to international markets underperforming the US. Our pipeline includes more global allocators, and while there have been some concerns about US policy, it's not a broad trend. Q: Can you discuss geographical demand differences, particularly in the advisory side, and provide an update on the US advisory effort? A: The US remains the largest and most active market, with growing activity in Asia. Europe is slower, and while the Middle East was active a few years ago, it's less so now, though opportunities still exist. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
16-07-2025
- Business
- Daily Mail
The US city foreign tourists aren't snubbing amid Trump boycott
As cities across the US attract a dwindling numbers of foreign tourists upset over Donald Trump 's presidency, America's biggest and brightest metropolis has managed to keep drawing visitors in. New York City's tourism sector is not only surviving a boycott by non-citizens, but thriving. The Big Apple is expected to see 12 million foreign tourists this year, roughly the same as in 2024, according to the Wall Street Journal. During roughly the first half of the year, hotels in the Big Apple had an 82 percent occupancy rate - nearly 20 percent above the national rate. NYC's major attractions are even outdoing their numbers from 2024, when the city hosted a near–record 64 million tourists. Broadway shows are pulling in the most audience members since 2019, before the industry was rocked by pandemic restrictions, and museums in the city are also welcoming more visitors, the WSJ reported. 'In terms of overall demand, New York is holding up well nationally,' Gabe Buerkle, senior analyst at real–estate investment firm Cohen & Steers, told the WSJ. 'New York has remained an outperformer, benefiting from domestic tourism and business demand.' By comparison, Los Angeles - the next most popular US city among international tourists in 2024, according to a report by Euromonitor - is projected to see a decrease in international tourists this year. 'The LA Tourism and Convention Bureau is anticipating year-over-year reductions in total international visitors to LA by between 25 and 30 percent,' LAWA CEO John Ackerman told NBC. The third most popular US city for foreign travelers, Las Vegas, has also seen fewer tourists, with visits falling 7.8 percent from March 2024 to March 2025, according to Travel Weekly. Shrinking numbers of foreign tourists in the US can be at least partly attributed to Trump's presidency . Foreign travelers say they are finding it hard to secure visas under the Trump administration's policies. Canadian travel to the US was down 13 percent year-over-year in June, according to airport traffic through customs data, and European visitors were down 3 percent, analyst Buerkle said. Visits to the US are expected to decline by 5.1 percent in 2025, which will ultimately contribute to a $64 billion loss for the domestic tourism industry, according to Tourism Economics. The research firm originally forecasted a nearly 9 percent tourism jump this year, a prediction that was revised late last month because of 'polarizing Trump Administration policies and rhetoric.' 'There's been a dramatic shift in our outlook,' Adam Sacks, president of Tourism Economics, told the Washington Post. 'You're looking at a much weaker economic engine than what otherwise would've been, not just because of tariffs, but the rhetoric and condescending tone around it.' Regardless of national struggles, New York City appears to be on the up and up.
Daily Mail
15-07-2025
- Business
- Daily Mail
The one US city foreign tourists aren't snubbing as Trump boycott leaves popular destinations on brink
As cities across the US attract a dwindling numbers of foreign tourists upset over Donald Trump 's presidency, America's biggest and brightest metropolis has managed to keep drawing visitors in. New York City 's tourism sector is not only surviving a boycott by non-citizens, but thriving. The Big Apple is expected to see 12 million foreign tourists this year, roughly the same as in 2024, according to the Wall Street Journal. During roughly the first half of the year, hotels in the Big Apple had an 82 percent occupancy rate - nearly 20 percent above the national rate. NYC's major attractions are even outdoing their numbers from 2024, when the city hosted a near–record 64 million tourists. Broadway shows are pulling in the most audience members since 2019, before the industry was rocked by pandemic restrictions, and museums in the city are also welcoming more visitors, the WSJ reported. 'In terms of overall demand, New York is holding up well nationally,' Gabe Buerkle, senior analyst at real–estate investment firm Cohen & Steers, told the WSJ. 'New York has remained an outperformer, benefiting from domestic tourism and business demand.' By comparison, Los Angeles - the next most popular US city among international tourists in 2024, according to a report by Euromonitor - is projected to see a decrease in international tourists this year. 'The LA Tourism and Convention Bureau is anticipating year-over-year reductions in total international visitors to LA by between 25 and 30 percent,' LAWA CEO John Ackerman told NBC. The third most popular US city for foreign travelers, Las Vegas, has also seen fewer tourists, with visits falling 7.8 percent from March 2024 to March 2025, according to Travel Weekly. Shrinking numbers of foreign tourists in the US can be at least partly attributed to Trump's presidency. Foreign travelers say they are finding it hard to secure visas under the Trump administration's policies. Canadian travel to the US was down 13 percent year-over-year in June, according to airport traffic through customs data, and European visitors were down 3 percent, analyst Buerkle said. Visits to the US are expected to decline by 5.1 percent in 2025, which will ultimately contribute to a $64 billion loss for the domestic tourism industry, according to Tourism Economics. The research firm originally forecasted a nearly 9 percent tourism jump this year, a prediction that was revised late last month because of 'polarizing Trump Administration policies and rhetoric.' 'There's been a dramatic shift in our outlook,' Adam Sacks, president of Tourism Economics, told the Washington Post. 'You're looking at a much weaker economic engine than what otherwise would've been, not just because of tariffs, but the rhetoric and condescending tone around it.' Regardless of national struggles, New York City appears to be on the up and up. Richard Born, owner of 28 properties including the popular Bowery Hotel, told the WSJ that business is booming. 'Every month this year has been equal or better than the corresponding month of the prior year,' Born said. 'No one is anticipating a falloff.'
Yahoo
09-07-2025
- Business
- Yahoo
Cohen & Steers Appoints Andrew Shin to lead Institutional Distribution for South Korea
HONG KONG, July 9, 2025 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) announced today the appointment of Andrew Shin as Vice President, Head of South Korea, Asia Institutional Distribution. Mr. Shin is responsible for leading institutional business development and client servicing throughout South Korea, while also supporting the firm's broader institutional business in Asia. Mr. Shin is based in Hong Kong and reports to Abhi Shroff, Head of APAC Institutional Distribution. Mr. Shin joins Cohen & Steers with over 20 years of investment advisory experience. He most recently served as Director, Head of Investment Services, Korea at Willis Towers Watson (WTW), where he was responsible for the firm's investment advisory business in Korea and advising Korean institutional investors. Abhi Shroff, Head of APAC Institutional Distribution, said:"Andrew brings significant knowledge of the Korean institutional business, and we are thrilled to welcome him to the Cohen & Steers team. His appointment demonstrates our continued commitment to clients in the region and is instrumental at a time when institutional investors in Asia continue to grow and seek diversification of their assets. We see demand to bring customized real assets and income solutions to institutions, and Andrew has a strong track record as a trusted advisor." Cohen & Steers opened its Hong Kong office in 2006 with listed real estate and infrastructure investment staff focused on APAC investments. The firm opened its Singapore office in 2023 to support growth in the region. About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore. Website: NYSE: CNS Forward-Looking StatementsThis press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current views with respect to, among other things, the Company's operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "may," "will," "should," "seeks," "predicts," "intends," "plans," "estimates," "anticipates" or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these forward-looking statements. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. View original content: SOURCE Cohen & Steers, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
