NEW YORK - Cohen & Steers, Inc. (NYSE:CNS), a global investment management firm, announced the appointment of Karen Wilson Thissen as a new member of its Board of Directors. The appointment, effective immediately, also includes her role on the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee.
Wilson Thissen brings a wealth of legal and governance experience to the board, having held the position of General Counsel and Secretary at General Mills (NYSE:GIS), Inc. Her previous tenure at Ameriprise Financial (NYSE:AMP), Inc. as Executive Vice President and General Counsel from 2017 to 2022 further bolsters her credentials. In addition to her corporate roles, she has engaged with the nonprofit sector, serving on the board of Northside Achievement Zone and the board of Columbia Threadneedle Investments EMEA.
Martin Cohen, Chairman of the Board at Cohen & Steers, expressed confidence in Wilson Thissen's ability to contribute to the company's growth, citing her extensive experience in wealth management and executive leadership. Joseph Harvey, CEO and President, emphasized her global perspective and expertise in legal and executive functions as valuable assets for the firm's strategic development.
Cohen & Steers specializes in real assets and alternative income investments. With a history dating back to 1986, the firm has expanded its global footprint with offices in major financial hubs around the world, including London, Dublin, Hong Kong, Tokyo, and Singapore.
The company's focus on delivering value to clients and shareholders is expected to be further reinforced by Wilson Thissen's leadership and strategic input. This appointment reflects Cohen & Steers' commitment to strengthening its governance and oversight capabilities as it continues to navigate the complexities of the global investment landscape.
The information in this article is based on a press release statement from Cohen & Steers, Inc.
In other recent news, Cohen & Steers announced a Q4 cash dividend of $0.59 per share, payable to stockholders of record as of November 18, 2024, demonstrating the firm's continued commitment to shareholder returns. This news follows the firm's report of Q3 earnings growth, with earnings per share rising to $0.77 from $0.68 in the previous quarter. The company's revenues also increased, reaching $133 million from $122 million.
Recent developments include the company's first positive net inflows since Q1 2022, primarily driven by robust U.S. REIT strategies. Cohen & Steers' global infrastructure fund also performed well, registering a 33.3% return in the past 12 months. The firm is adapting to industry shifts by focusing on active ETF strategies and a non-traded REIT strategy, which has outperformed its index with an 8.3% return through September.
Looking ahead, Cohen & Steers anticipates stable compensation ratios and a 6-7% increase in G&A expenses for the year. The company also expects $1 billion in redemptions, split between two quarters. Despite facing some challenges, including outflows in Japan sub-advisory, the firm remains focused on leveraging its expertise in real estate and preferred securities.
InvestingPro Insights
Cohen & Steers' recent board appointment comes at a time when the company is experiencing strong financial performance. According to InvestingPro data, the firm boasts a market capitalization of $5.17 billion, reflecting its significant presence in the investment management sector.
The company's financial health is underscored by its robust profitability metrics. With an operating income margin of 32.49% for the last twelve months as of Q3 2024, Cohen & Steers demonstrates efficient operational management. This efficiency is further reflected in its return on assets of 22.28% over the same period, indicating effective use of its asset base to generate profits.
InvestingPro Tips highlight that Cohen & Steers has maintained dividend payments for 21 consecutive years, a testament to its financial stability and commitment to shareholder returns. This consistency aligns well with the company's focus on delivering value to shareholders, as mentioned in the article.
The firm's stock has shown remarkable performance, with a one-year price total return of 92.31%. This strong return, coupled with the fact that the stock is trading at 92.35% of its 52-week high, suggests investor confidence in the company's strategic direction and growth prospects.
It's worth noting that InvestingPro offers 12 additional tips for Cohen & Steers, providing investors with a more comprehensive analysis of the company's financial position and market performance. These insights could be particularly valuable as the firm integrates new leadership and continues to navigate the global investment landscape.
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