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 entrenched in the broker/dealer market and the firm now garners more than 50% of its AUM from institutional clients, providing it with a relatively stable base of assets.
Of the $9.8 billion of total inflows that Cohen & Steers has generated since the start of 2009, more than one fourth have been driven by the institutional 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 more than $1.9 billion during 2013 were followed up by a similar level of outflows in 2014 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 

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