Cohen & Steers, Inc. reported a notable increase in financial performance for the first quarter of 2025, with total revenue reaching $134.5 million, up 9.6% from $122.7 million in the same period last year. The company's investment advisory and administration fees contributed significantly to this growth, totaling $126.8 million, a 9.9% increase from $115.3 million in Q1 2024. Net income attributable to common stockholders also rose to $39.8 million, compared to $34.0 million in the prior year, resulting in diluted earnings per share of $0.77, up from $0.68.
The company experienced a substantial shift in its financial position, with total assets increasing to $834.9 million as of March 31, 2025, compared to $812.4 million at the end of 2024. This growth was primarily driven by a rise in investments, which surged to $473.4 million from $335.4 million. However, cash and cash equivalents saw a significant decline, dropping to $65.2 million from $183.0 million, reflecting increased investment activity and cash outflows related to operational expenses.
Cohen & Steers has made strategic advancements, including the launch of its first active exchange-traded funds (ETFs) in February 2025, which encompass three strategies: U.S. real estate securities, preferred securities, and natural resource equities. This move is part of the company's broader strategy to diversify its investment offerings and enhance its market presence. Additionally, the company reported a 7.8% increase in assets under management, totaling $87.6 billion, driven by net inflows and market appreciation.
Operationally, the company reported a slight increase in employee compensation and benefits, totaling $54.6 million, reflecting higher incentive compensation. The total number of shares outstanding as of April 30, 2025, was 50,979,157. The company also declared a quarterly dividend of $0.62 per share, payable on May 22, 2025, indicating a commitment to returning value to shareholders.
Looking ahead, Cohen & Steers remains focused on navigating macroeconomic uncertainties and market volatility while leveraging its investment management expertise. The company anticipates continued growth in assets under management and revenue, supported by its strategic initiatives and a disciplined approach to risk management.
About COHEN & STEERS, INC.
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