Morningstar Rating

Stock Research and Analysis

by Greggory Warren, CFA

Bulls Say

Cohen & Steers' long-term track record of successful REIT investing has allowed it to tap into investor demand for alternative investment products that offer diversification away from more traditional stock and bond offerings.
Cohen & Steers' funds are not only entrenched in the broker/dealer market, but the firm garners half of its AUM from institutional clients, providing it with a relatively stable base of assets.
Of the $8.6 billion in investor inflows that Cohen & Steers has generated since the start of 2009, roughly half of that total has been driven by the retail channel. Read more 

Bears Say

Cohen & Steers ultimately lives and dies by the state of real estate markets and the specialty finance firms making a living off them.
Net outflows of $1.9 billion during both 2013 and 2014 are likely to be followed by a somewhat greater level of outflows in 2015 as Cohen & Steers continues to be affected by redemptions from the institutional channel.
With management fees significantly lower for institutional accounts than they are for closed-end and open-end funds, rapid growth in the firm's institutional channel would have a negative impact on Cohen & Steers' realization rate. Read more 

Management

Martin Cohen and Robert Steers cofounded Cohen & Steers in 1986 and took the firm public in 2004. Despite being publicly traded, Cohen & Steers continues to resemble a private company in many ways. Cohen and Steers serve as executive chairman   Read more 

Profile

Cohen & Steers is a niche asset manager concentrating on real estate securities. The firm invests primarily in the equity shares of real estate investment trusts, with   Read more 

3 Banking Takeaways From the Quarter 
Watch more 

Premium Membership

View all of our analyst reports with a free trial to Morningstar.com Premium.