Cohen & Steers, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Cohen & Steers, Inc. has submitted its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial performance and operations.</b>

AI Summary

COHEN & STEERS, INC. (CNS) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Cohen & Steers, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business is Investment Advice. The filing was made on May 3, 2024. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking COHEN & STEERS, INC., this filing contains several important signals. This 10-Q filing provides investors with updated financial statements and management's discussion and analysis for the first quarter of 2024, crucial for assessing the company's current financial health and strategic direction. Understanding the details within this report allows stakeholders to evaluate Cohen & Steers' performance against prior periods and market expectations, informing investment decisions.

Risk Assessment

Risk Level: low — COHEN & STEERS, INC. shows low risk based on this filing. The risk is low as this is a routine quarterly filing (10-Q) which is standard for publicly traded companies and does not inherently indicate new or significant risks.

Analyst Insight

Review the detailed financial statements and management's discussion in the 10-Q to understand Cohen & Steers' performance in Q1 2024 and its outlook.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Reporting Period)
• 2023-12-31 — Prior Period End Date (Balance Sheet Date)

Key Players & Entities

• COHEN & STEERS, INC. (company) — FILER
• CNS (company) — ticker symbol
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-03 (date) — FILED AS OF DATE
• 1166 AVENUE OF THE AMERICAS (address) — BUSINESS ADDRESS
• NEW YORK (location) — CITY
• DE (location) — STATE OF INCORPORATION
• 6282 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION

FAQ

Industry Context

Cohen & Steers operates within the Investment Advice industry, providing specialized investment management services.

Regulatory Implications

As a publicly traded company, Cohen & Steers is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the revenue and net income figures for Q1 2024 compared to Q1 2023.
2. Review any disclosed changes in assets under management or investment strategies.
3. Examine the balance sheet for changes in debt, equity, and cash positions.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-03: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the Q1 2024 update, following the company's 2023 annual report (10-K) and previous quarterly filings.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value CNS New York Stock Exchange

Filing Documents

• cns-20240331.htm (10-Q) — 1282KB
• cns10q-33124ex311.htm (EX-31.1) — 11KB
• cns10q-33124ex312.htm (EX-31.2) — 11KB
• cns10q-33124ex321.htm (EX-32.1) — 6KB
• cns10q-33124ex322.htm (EX-32.2) — 6KB
• cns-20240331_g1.jpg (GRAPHIC) — 64KB
• 0001284812-24-000195.txt (&nbsp;) — 6316KB
• cns-20240331.xsd (EX-101.SCH) — 30KB
• cns-20240331_cal.xml (EX-101.CAL) — 60KB
• cns-20240331_def.xml (EX-101.DEF) — 169KB
• cns-20240331_lab.xml (EX-101.LAB) — 483KB
• cns-20240331_pre.xml (EX-101.PRE) — 327KB
• cns-20240331_htm.xml (XML) — 903KB

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Statements of Financial Condition (Unaudited) 1 Condensed Consolidated Statements of Operations (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 3 Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) 4 Condensed Consolidated Statements of Cash Flows (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 35

Other Information *

Part II. Other Information *

Legal Proceedings

Item 1. Legal Proceedings 36

Risk Factors

Item 1A. Risk Factors 36

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Other Information

Item 5. Other Information 36

Exhibits

Item 6. Exhibits 37

Signatures

Signatures 38 * Items other than those listed above have been omitted because they are not applicable.

Forward-Looking Statements

Forward-Looking Statements This report and other documents filed by us contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), which reflect management's current views with respect to, among other things, our operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these forward-looking statements. We believe that these factors include, but are not limited to, the risks described in the Risk Factors section of our Annual Report on Form 10-K for the year ended December 31, 2023 (the Form 10-K), which is accessible on the Securities and Exchange Commission's website at www.sec.gov and on our website at www.cohenandsteers.com. These factors are not exhaustive and should be read in conjunction with the other cautionary statements that are included in this report, the Form 10-K and our other filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

—Financial Information

PART I—Financial Information

Financial Statements

Item 1. Financial Statements COHEN & STEERS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (in thousands, except share data) March 31, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 99,521 $ 187,442 Investments ($ 148,102 and $ 159,931 ) (1) 273,040 258,970 Accounts receivable 75,329 68,889 Due from brokers ($ 13,981 and $ 13 ) (1) 17,089 4,677 Property and equipment—net 68,394 66,336 Operating lease right-of-use assets—net 101,374 103,302 Goodwill and intangible assets—net 19,157 19,395 Other assets ($ 416 and $ 644 ) (1) 26,821 27,543 Total assets $ 680,725 $ 736,554 Liabilities: Accrued compensation and benefits $ 17,161 $ 66,382 Distribution and service fees payable 7,721 10,144 Operating lease liabilities 141,380 140,408 Income tax payable 11,140 5,115 Due to brokers ($ 17,036 and $ 119 ) (1) 17,794 201 Other liabilities and accrued expenses ($ 470 and $ 449 ) (1) 10,698 21,657 Total liabilities 205,894 243,907 Commitments and contingencies (See Note 11) Redeemable noncontrolling interests 90,909 106,463 Stockholders' equity: Common stock, $ 0.01 par value; 500,000,000 shares authorized; 56,431,301 and 55,788,720 shares issued at March 31, 2024 and December 31, 2023, respectively 564 558 Additional paid-in capital 832,496 818,269 Accumulated deficit ( 154,361 ) ( 158,186 ) Accumulated other comprehensive loss ( 8,690 ) ( 7,708 ) Treasury stock, at cost, 6,900,666 and 6,633,273 shares at March 31, 2024 and December 31, 2023, respectively ( 291,069 ) ( 271,705 ) Total stockholders' equity attributable to Cohen & Steers, Inc. 378,940 381,228 Nonredeemable noncontrolling interests 4,982 4,956 Total stockholders' equity 383,922 386,184 Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 680,725 $ 736,554 _________________________ (1) Amounts in parentheses represent the aggregate balances at March 31, 2024 and December 31, 2023 attrib

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View this 10-Q filing on SEC EDGAR