Morningstar Rating

Stock Research and Analysis

by Greggory Warren, CFA

Bulls Say

Cohen & Steers' proven long-term record investing in REITs 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 has been garnering an increasingly larger portion of its AUM from institutional clients, providing it with a relatively stable base of assets.
Of the $12.6 billion of inflows that Cohen & Steers has generated since the start of 2009, close to half have come from the institutional channel. Read more 

Bears Say

Cohen & Steers 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 $2.5 billion during 2012 would have been worse had Cohen & Steers not raised close to $900 million from the launch of a new closed-end fund during the third quarter of last year.
With management fees significantly lower for its institutional accounts (at 0.35% of average AUM) than they are for its closed-end (0.84%) and open-end (0.82%) funds, Cohen & Steers' growth in the institutional channel has had an impact on its realization rate. Read more 


Martin Cohen and Robert Steers co-founded 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. The founders serve as co-chairmen and co-CEOs   Read more 


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 

First Name
Last Name
Email Address
Zip Code
Create Password
Verify Password
(6-15 characters; case sensitive)

Financial Services: 5 Years After Lehman 
Watch more 

Premium Membership

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