Cohen & Steers Reports 5.7% Revenue Growth and Increased Net Income for 2024

Cohen & Steers, Inc. reported a financial performance for the year ended December 31, 2024, with total revenue of $517.4 million, reflecting a 5.7% increase from $489.6 million in 2023. The company's net income attributable to common stockholders rose to $151.3 million, up from $129.0 million in the previous year, resulting in diluted earnings per share of $2.97 compared to $2.60 in 2023. The operating margin slightly decreased to 33.4% from 33.6% in the prior year, indicating stable profitability despite rising expenses.

The company experienced a 3.2% increase in assets under management (AUM), reaching $85.8 billion as of December 31, 2024, compared to $83.1 billion at the end of 2023. This growth was primarily driven by market appreciation of $5.4 billion, although it was partially offset by net outflows of $171 million and distributions totaling $2.6 billion. Notably, AUM in open-end funds increased by 10.6% to $41.0 billion, largely due to net inflows of $2.8 billion, particularly in U.S. real estate strategies.

Strategically, Cohen & Steers launched its first active exchange-traded funds (ETFs) in early 2025, which included three strategies focused on U.S. real estate securities, preferred securities, and natural resource equities. Additionally, the company made seed investments of approximately $49.8 million to support this initiative. The firm also deconsolidated the Cohen & Steers SICAV Global Real Estate Fund, resulting in a non-cash reduction of $148.7 million from both investments and redeemable noncontrolling interests.

Operationally, Cohen & Steers reported a total employee headcount of 411 as of December 31, 2024, with 36% of employees being women and 33% identifying as people of color. The company has been recognized for its workplace culture, being named a "Best Place to Work in Money Management" for five consecutive years by Pensions & Investments. The firm continues to focus on enhancing its diversity and inclusion initiatives as part of its human capital strategy.

Looking ahead, Cohen & Steers anticipates navigating a complex macroeconomic environment characterized by fluctuating growth rates and geopolitical uncertainties. The company remains committed to leveraging its investment management expertise to identify opportunities across its asset classes while maintaining prudent cost control. The outlook for 2025 includes continued focus on expanding its product offerings and geographic reach, particularly in the growing market for real assets and alternative income strategies.