John Dunn

Rodrigo Ferreira

Ben Rubin

- Cohen & Steers reported **Q3 2025 earnings of $0.81 per share**, an **11.6% increase** sequentially, with **revenue of $141 million**, up **4.2%** from the prior quarter, and an expanded operating margin of **36.1%**.  **[0001284812_2190222_1]** 
- The company achieved **net inflows of $233 million** in Q3 2025, contributing to **$325 million** year-to-date, and ending AUM increased to **$90.9 billion**.  **[0001284812_2190222_1]** **[0001284812_2190222_5]**  Open-end funds experienced **$768 million** in net inflows.  **[0001284812_2190222_5]** 
- Full-year 2025 guidance includes a compensation ratio of **40.25%** and a G&A expense increase of approximately **9%** compared to 2024, with G&A growth expected to moderate to the mid-single-digit percentage range in 2026.  **[0001284812_2190222_1]** 
- The institutional pipeline grew substantially to **$1.75 billion**, the largest since Q4 2021, and the company raised **$353 million** through an equity rights offering for its Cohen & Steers Infrastructure Fund (UTF).  **[0001284812_2190222_5]** **[0001284812_2190222_6]**  Active ETFs also saw **$70 million** in net inflows.  **[0001284812_2190222_6]** 
- Raja Dakkuri will be stepping down as CFO, and Mike Donahue will assume the role of Interim CFO.  **[0001284812_2190222_7]**

Cohen & Steers Reports Strong Q3 2025 Earnings and Strategic Growth

- Cohen & Steers reported **Q3 2025 earnings of $0.81 per share**, an **11.6% increase** sequentially, with **revenue up 4.2% to $141,000,000** and an expanded operating margin of **36.1%**.  **[0001284812_2190236_1]** 
- The company achieved **net inflows of $233,000,000** in Q3 2025, contributing to year-to-date inflows of **$325,000,000**, and ending Assets Under Management (AUM) increased to **$90,900,000,000**.  **[0001284812_2190236_1]** **[0001284812_2190236_5]** 
- Guidance for full year 2025 includes a compensation ratio of **40.25%** and an effective tax rate of **25.1%**, with G&A expenses expected to increase by approximately **9%** compared to 2024.  **[0001284812_2190236_1]** 
- The institutional pipeline grew significantly to a multi-year high of **$1,750,000,000**, and the company raised **$353,000,000** in an equity rights offering for its closed-end fund, UTF.  **[0001284812_2190236_5]** **[0001284812_2190236_6]** 
- Raja Dacori will be stepping down as CFO, with **Mike Donahue appointed as Interim CFO**.  **[0001284812_2190236_7]**

Cohen & Steers Announces Q3 2025 Results, Increased AUM, and CFO Transition

- Cohen & Steers reported **diluted earnings per share of $0.81** and **net income of $41.7 million** for Q3 2025.  **[0001284812_2189264:0]** **[0001284812_2189264:9]** 
- The company's **Assets Under Management (AUM) reached $90.9 billion** as of September 30, 2025, an increase from $88.9 billion at June 30, 2025.  **[0001284812_2189264:0]** **[0001284812_2189264:1]** 
- **Net inflows for Q3 2025 were $233 million**, a turnaround from net outflows of $131 million in Q2 2025.  **[0001284812_2189264:0]** 
- **Revenue for Q3 2025 was $140.9 million**, with an **operating margin of 36.1%**.  **[0001284812_2189264:0]** **[0001284812_2189264:11]**

Cohen & Steers Announces Q3 2025 Financial Results

- **Cohen & Steers Infrastructure Fund, Inc. (UTF)** successfully completed a transferable rights offering, which expired on **October 16, 2025**.  **[1284812_20251017NY00524:0]** 
- The offering is expected to issue approximately **14,993,927 common shares** at a subscription price of **$23.56 per share**, raising anticipated gross proceeds of approximately **$353 million** for the Fund.  **[1284812_20251017NY00524:0]** 
- The Fund intends to invest these proceeds to capitalize on attractive investment opportunities in listed infrastructure, aligning with its objective of total return with emphasis on income.  **[1284812_20251017NY00524:0]**

Cohen & Steers Infrastructure Fund, Inc. Announces Rights Offering Results

- Cohen & Steers, Inc. reported **diluted earnings per share (EPS) of $0.81** for the third quarter ended September 30, 2025, an increase from $0.72 in the prior quarter.  **[1284812_0001284812-25-000296_cns-earningsreleasex93025e.htm:0]** **[1284812_0001284812-25-000296_cns-earningsreleasex93025e.htm:6]** 
- **Total revenue for Q3 2025 was $141,720 thousand**, representing a **4.1% increase** from $136,126 thousand in Q2 2025.  **[1284812_0001284812-25-000296_cns-earningsreleasex93025e.htm:0]** **[1284812_0001284812-25-000296_cns-earningsreleasex93025e.htm:6]** 
- The company's **operating margin (U.S. GAAP) was 34.5%** for Q3 2025, up from 31.8% in Q2 2025.  **[1284812_0001284812-25-000296_cns-earningsreleasex93025e.htm:0]** **[1284812_0001284812-25-000296_cns-earningsreleasex93025e.htm:6]** 
- **Ending Assets Under Management (AUM) reached $90.9 billion** as of September 30, 2025, a **2.2% increase** from $88.9 billion at June 30, 2025, driven by **net inflows of $233 million** and market appreciation.  **[1284812_0001284812-25-000296_cns-earningsreleasex93025e.htm:0]** **[1284812_0001284812-25-000296_cns-earningsreleasex93025e.htm:2]**

Cohen & Steers Reports Q3 2025 Financial Results

- Cohen & Steers, Inc. (CNS) reported preliminary **assets under management (AUM)** of **$90.9 billion** as of **September 30, 2025**, an increase of **$542 million** from **$90.4 billion** at **August 31, 2025**.  **[1284812_20251008NY93497:0]** 
- The increase in AUM was primarily driven by **market appreciation of $945 million**, which was partially offset by **distributions of $322 million** and **net outflows of $81 million**.  **[1284812_20251008NY93497:0]** 
- As of September 30, 2025, the AUM was distributed across **Open-end Funds ($44,421 million)**, **Institutional Accounts ($34,711 million)**, and **Closed-end Funds ($11,765 million)**.  **[1284812_20251008NY93497:0]**

Cohen & Steers Announces Preliminary Assets Under Management for September 2025

- **Cohen & Steers' Private Real Estate Group** and **Lincoln Property Company** have formed a joint venture to acquire and own **Cityline at Tenley**, a retail center in Tenleytown, northwest Washington D.C..  **[1284812_20250918NY77129:0]** 
- The property is strategically located atop the **Tenleytown Metro Station** and is anchored by a **high-performing Target store**, benefiting from the area's affluent demographics.  **[1284812_20250918NY77129:0]** 
- The Tenleytown zip code ranks highly for attractive strip center rankings, placing it in approximately the **top 1% of zip codes** and top 7% of submarkets.  **[1284812_20250918NY77129:0]** 
- Cohen & Steers believes that a **"generational rent growth super-cycle"** is beginning for retail property, driven by low development levels and renewed demand from retailers.  **[1284812_20250918NY77129:0]**

COHEN & STEERS (CNS)