Cohen & Steers Inc. (CNS, Financial) filed Quarterly Report for the period ended 2010-06-30.
Cohen & Steers Inc. has a market cap of $957.74 million; its shares were traded at around $22.49 with a P/E ratio of 26.46 and P/S ratio of 7.75. The dividend yield of Cohen & Steers Inc. stocks is 1.78%. Cohen & Steers Inc. had an annual average earning growth of 29.6% over the past 5 years.CNS is in the portfolios of Murray Stahl of Horizon Asset Management, Ron Baron of Baron Funds, Chuck Royce of Royce& Associates, John Keeley of Keeley Fund Management, George Soros of Soros Fund Management LLC.
Net inflows for open-end mutual funds were $432 million in the six months ended June 30, 2010, compared with $85 million in the six months ended June 30, 2009. Gross inflows were $1.4 billion in the six months ended June 30, 2010, compared with $755 million in the six months ended June 30, 2009. Gross outflows totaled $962 million in the six months ended June 30, 2010, compared with $670 million in the six months ended June 30, 2009. Market depreciation was $122 million in the six months ended June 30, 2010, compared with $127 million in the six months ended June 30, 2009.
Institutional separate accounts had net inflows of $1.1 billion in the three months ended June 30, 2010, compared with $782 million in the three months ended June 30, 2009. Gross inflows were $1.5 billion in the three months ended June 30, 2010, compared with $954 million in the three months ended June 30, 2009. Gross outflows totaled $417 million in the three months ended June 30, 2010, compared with $172 million in the three months ended June 30, 2009. Market depreciation was $1.2 billion in the three months ended June 30, 2010, compared with market appreciation of $1.6 billion in the three months ended June 30, 2009.
Institutional separate accounts had net inflows of $1.9 billion in the six months ended June 30, 2010, compared with $1.2 billion in the six months ended June 30, 2009. Gross inflows were $2.9 billion in the six months ended June 30, 2010, compared with $1.5 billion in the six months ended June 30, 2009. Gross outflows totaled $937 million in the six months ended June 30, 2010, compared with $299 million in the six months ended June 30, 2009. Market depreciation was $550 million in the six months ended June 30, 2010, compared with market appreciation of $148 million in the six months ended June 30, 2009.
In the three months ended June 30, 2010, total investment advisory and administration revenue from closed-end mutual funds increased 48% to $11.3 million from $7.6 million in the three months ended June 30, 2009. The increase in closed-end mutual fund revenue was attributable to higher levels of average assets under management resulting from market appreciation of $929 million and net inflows of $173 million through an increase in the use of the funds credit facility. Average assets under management for closed-end mutual funds in the three months ended June 30, 2010 were $5.6 billion compared with $3.9 billion in the three months ended June 30, 2009.
Non-operating income was $2.1 million in the three months ended June 30, 2010, compared with a non-operating loss of $5.4 million in the three months ended June 30, 2009. The second quarter 2010 results included a gain of approximately $3.1 million primarily due to recoveries on the sale of previously impaired securities. Excluding this gain, non-operating loss would have been $1.1 million for the three months ended June 30, 2010. The second quarter 2009 results included an other-than-temporary impairment charge of $14.0 million recorded on available-for-sale securities, primarily from investments in preferred securities and seed money investments in our sponsored mutual funds. Excluding these items, non-operating income would have been $8.7 million for the three months ended June 30, 2009, of which approximately $6.5 million was related to trading gains from our consolidated long-short global real estate funds.
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Cohen & Steers Inc. has a market cap of $957.74 million; its shares were traded at around $22.49 with a P/E ratio of 26.46 and P/S ratio of 7.75. The dividend yield of Cohen & Steers Inc. stocks is 1.78%. Cohen & Steers Inc. had an annual average earning growth of 29.6% over the past 5 years.CNS is in the portfolios of Murray Stahl of Horizon Asset Management, Ron Baron of Baron Funds, Chuck Royce of Royce& Associates, John Keeley of Keeley Fund Management, George Soros of Soros Fund Management LLC.
Highlight of Business Operations:
Net inflows for open-end mutual funds were $175 million in the three months ended June 30, 2010, compared with $161 million in the three months ended June 30, 2009. Gross inflows were $684 million in the three months ended June 30, 2010, compared with $431 million in the three months ended June 30, 2009. Gross outflows totaled $509 million in the three months ended June 30, 2010, compared with $270 million in the three months ended June 30, 2009. Market depreciation was $538 million in the three months ended June 30, 2010, compared with market appreciation of $975 million in the three months ended June 30, 2009.Net inflows for open-end mutual funds were $432 million in the six months ended June 30, 2010, compared with $85 million in the six months ended June 30, 2009. Gross inflows were $1.4 billion in the six months ended June 30, 2010, compared with $755 million in the six months ended June 30, 2009. Gross outflows totaled $962 million in the six months ended June 30, 2010, compared with $670 million in the six months ended June 30, 2009. Market depreciation was $122 million in the six months ended June 30, 2010, compared with $127 million in the six months ended June 30, 2009.
Institutional separate accounts had net inflows of $1.1 billion in the three months ended June 30, 2010, compared with $782 million in the three months ended June 30, 2009. Gross inflows were $1.5 billion in the three months ended June 30, 2010, compared with $954 million in the three months ended June 30, 2009. Gross outflows totaled $417 million in the three months ended June 30, 2010, compared with $172 million in the three months ended June 30, 2009. Market depreciation was $1.2 billion in the three months ended June 30, 2010, compared with market appreciation of $1.6 billion in the three months ended June 30, 2009.
Institutional separate accounts had net inflows of $1.9 billion in the six months ended June 30, 2010, compared with $1.2 billion in the six months ended June 30, 2009. Gross inflows were $2.9 billion in the six months ended June 30, 2010, compared with $1.5 billion in the six months ended June 30, 2009. Gross outflows totaled $937 million in the six months ended June 30, 2010, compared with $299 million in the six months ended June 30, 2009. Market depreciation was $550 million in the six months ended June 30, 2010, compared with market appreciation of $148 million in the six months ended June 30, 2009.
In the three months ended June 30, 2010, total investment advisory and administration revenue from closed-end mutual funds increased 48% to $11.3 million from $7.6 million in the three months ended June 30, 2009. The increase in closed-end mutual fund revenue was attributable to higher levels of average assets under management resulting from market appreciation of $929 million and net inflows of $173 million through an increase in the use of the funds credit facility. Average assets under management for closed-end mutual funds in the three months ended June 30, 2010 were $5.6 billion compared with $3.9 billion in the three months ended June 30, 2009.
Non-operating income was $2.1 million in the three months ended June 30, 2010, compared with a non-operating loss of $5.4 million in the three months ended June 30, 2009. The second quarter 2010 results included a gain of approximately $3.1 million primarily due to recoveries on the sale of previously impaired securities. Excluding this gain, non-operating loss would have been $1.1 million for the three months ended June 30, 2010. The second quarter 2009 results included an other-than-temporary impairment charge of $14.0 million recorded on available-for-sale securities, primarily from investments in preferred securities and seed money investments in our sponsored mutual funds. Excluding these items, non-operating income would have been $8.7 million for the three months ended June 30, 2009, of which approximately $6.5 million was related to trading gains from our consolidated long-short global real estate funds.
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