Cohen & Steers

Cohen & Steers is an American investment management company. It focuses on investments in real estate securities via real estate investment trusts (REIT) and alternative income via preferred securities.[2][3]

Cohen & Steers, Inc.
TypePublic
IndustryInvestment Management
Founded1986 (1986)
FoundersMartin Cohen
Robert Steers
Headquarters280 Park Avenue,
New York, NY
,
United States
Key people
Joseph Harvey (CEO and President)
RevenueIncrease US$583.82 million (FY 2021)
Increase US$260.37 million (FY 2021)
Increase US$226.15 million (FY 2021)
AUMUS$94 billion (July 31, 2022)[1]
Total assetsIncrease US$492.69 million (FY 2021)
Total equityIncrease US$255.18 million (FY 2021)
Number of employees
Increase 354 (FY 2021)
Websitewww.cohenandsteers.com
Footnotes / references
[2]

In August 2022, according to a report released by the National Association of Real Estate Investment Trusts, Cohen & Steers was the third largest manager of REIT securities worldwide with $56.6 billion assets under management.[4]

History

Cohen & Steers was founded in 1986 by Martin Cohen and Robert Steers.[2][5][6][7][8] Both of them prior to founding the company, worked at the National Securities and Research Corporation where in 1985 they organized and managed the first real estate securities mutual fund in the United States, The National Real Estate Stock Fund.[9][10][7][8]

Cohen & Steers is considered a pioneer in developing the securitised real estate sector and to this day still remains a leader in it.[5][4][6][7][8] However Cohen & Steers has also been diversifying by expanding its investments into other investments such as preferred securities and real assets starting in 2003 and 2012 respectively.[8]

In August 2004, Cohen & Steers completed its initial public offering to become a listed company on the New York Stock Exchange raising $104.3 million.[6][8][11][12]

In 2016, Cohen retired from day to day management of the company.[7] On November 2021, Steers announced he would be steeping down from his position as CEO and would be succeeded by Joseph Harvey.[13]

In 2021, Cohen & Steers' assets under management figure surpassed $100 billion.[14]

References
  1. "Cohen & Steers Announces Preliminary Assets Under Management and Net Flows For July 2022". finance.yahoo.com. 2022-08-09.
  2. "2021 Annual Report" (PDF). 6 October 2022. Archived from the original (PDF) on 2022-10-06.
  3. "Cohen & Steers, Inc. SEC Registration". sec.report.
  4. Jacobius, Arleen (2022-09-29). "REIT assets down but not out, industry experts say". Pensions & Investments. Retrieved 2022-10-29.
  5. "Cohen & Steers". thehedgefundjournal.com. Retrieved 2022-10-29.
  6. "Cohen & Steers Sharpens its Focus". www.reit.com. Retrieved 2022-10-29.
  7. Walker, Owen (2018-11-10). "Bob Steers - Wall St veteran who opened property to the masses". Financial Times. Retrieved 2022-10-29.
  8. Segal, Julie (2013-03-26). "Cohen & Steers Looking Beyond REITs and Real Estate". Institutional Investor. Retrieved 2022-10-29.
  9. "Dedicated Real Estate Funds Developed". www.reit.com. Retrieved 2022-10-29.
  10. Serwer, Andrew Evan (1987-10-12). "Look Who's Leaping Into Real Estate". money.cnn.com. Retrieved 2022-10-29.
  11. Hennessey, Raymond (2004-03-31). "Cohen & Steers Files for an IPO". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-10-29.
  12. O'Donnell, Kathie (2004-08-13). "Cohen & Steers completes IPO". MarketWatch. Retrieved 2022-10-29.
  13. Jacobius, Arleen (2021-11-05). "Cohen & Steers sets CEO succession". Pensions & Investments. Retrieved 2022-10-29.
  14. Sloley, Chris (22 September 2021). "The first $100bn's the hardest: Where Cohen & Steers goes next". citywire.com. Retrieved 2022-10-29.
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