Cohen & Steers: A 3.5% Yield As Commercial Real Estate Recovers

2025-10-28 02:19:01 ET

Cohen & Steers ( CNS ) has compounded its base cash dividend by a 9.8% growth rate over the last five years while maintaining assets under management ("AUM') strength under one of the worst macro backdrops for commercial real estate ("CRE") in decades. Crucially, while this macro backdrop is set to remain salient to limit near-term upside, pending Fed rate cuts are set to be transformational to REITs and preferred equity. This should help pull up long-depressed CRE valuations and narrow existing discounts on fixed-income securities. The Manhattan-based global investment manager offers a range of open- and closed-end funds focused on CRE and alternative income, mainly preferreds, but also offers funds focused on infrastructure, resource equities, commodities, and multi-strategy solutions. These drove total revenue, as adjusted, of $140.9 million for its fiscal 2025 third quarter. This was up by 5.6% over the year-ago period....

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