Core Insights - Cohen & Steers and DLC have jointly acquired Springfield Commons, an open-air community shopping center in Springfield, Virginia [1][2] - Springfield Commons spans 119,085 square feet and is strategically located near a vibrant shopping destination, enhancing its appeal [2] - The shopping center is currently 78% occupied and is expected to reach 98% occupancy in the short term [2] Company Overview - Cohen & Steers is a global investment manager specializing in real assets and alternative income, with a focus on listed and private real estate [5] - DLC is a leading private retail real estate company with expertise in various aspects of real estate management, including acquisitions and development [6] Market Context - The retail submarket in Springfield has a 96.9% occupancy rate and has experienced a 3.3% year-over-year rent growth, outperforming national averages [3] - Open-air shopping centers are currently at their highest occupancy level in 16 years at 95.7% nationally, making them the most occupied commercial property type in the U.S. [4] - The open-air shopping center sector is viewed as attractive for investment, with compelling opportunities identified by Cohen & Steers [4]

Core Insights - Cohen & Steers and Acadia Realty Trust have formed a joint venture to acquire The Walk at Highwoods, a community shopping center in Tampa, Florida [1] - The Walk at Highwoods spans 141,000 square feet and is fully occupied by a mix of national and local retailers [2] - Tampa's economic growth, driven by a favorable tax environment and expanding technology and financial sectors, has made it an attractive market for retail investments [3] Company Overview - Cohen & Steers specializes in real assets and alternative income, including listed and private real estate, and has a global presence with offices in major cities [5] - Acadia Realty Trust focuses on long-term growth through a high-quality core real estate portfolio, particularly in dynamic retail corridors [6] Market Conditions - Open-air shopping centers in the U.S. have reached a national occupancy level of 95.7%, the highest in 16 years, indicating strong demand [4] - The retail submarket in Northeast Tampa has experienced a rent growth of 6.4% over the past year, with a low vacancy rate of 2.3% [3][4]

Core Insights - Corero Network Security has launched the Network Threat Detector (NTD) 3400, enhancing its DDoS protection capabilities with a 400G upgrade to the SmartWall ONE™ appliance [1][2] - The company has introduced a Trade-In Program that offers significant discounts for customers upgrading from older Corero appliances or competitor solutions, facilitating the transition to advanced DDoS protection technology [1][2] Product Features - The NTD 3400 provides four times the connectivity of previous models while consuming less than twice the power, allowing for more efficient network protection [2] - The new appliance simplifies infrastructure with reduced hardware complexity, flexible deployment options, and scalability to meet future bandwidth demands [2] - The NTD 3400 is designed to defend against evolving cyber threats, continuing Corero's 400G rollout that began with a software-based solution launched in February [2] Company Overview - Corero Network Security specializes in automatic detection and protection solutions against DDoS threats, offering network visibility, analytics, and reporting tools [3] - The company operates from Marlborough, Massachusetts, and Edinburgh, UK, and is listed on the London Stock Exchange's AIM market and the US OTCQB Market [3]

Asia Value & Moat Stocks is a research service for value investors seeking Asia-listed stocks with a huge gap between price and intrinsic value, leaning towards deep value balance sheet bargains (i.e. buying assets at a discount e.g. net cash stocks, net-nets, low P/B stocks, sum-of-the-parts discounts) and wide moat stocks (i.e. buying earnings power at a discount in great companies like "Magic Formula" stocks, high-quality businesses, hidden champions and wide moat compounders). Sign up here to get starte ...

Financial Data and Key Metrics - Earnings per share increased to $0.77 from $0.68 sequentially, with revenue rising to $133 million from $122 million, driven by higher average AUM [4] - Operating income improved to $47.6 million from $42.5 million, with the operating margin increasing to 35.7% [4] - Total expenses rose due to higher compensation and benefits, with the compensation ratio remaining at 40.5% [5] - Effective tax rate for the quarter was 25.1%, and liquidity at the end of Q3 totaled $348 million, up from Q2 [5] - AUM increased by over $11 billion to $91.8 billion, primarily due to market appreciation and net inflows [5] Business Line Performance - 39% of AUM outperformed benchmarks in Q3, with 96% of AUM outperforming benchmarks over a one-year period [7][8] - Global listed infrastructure performance was up 520 basis points versus its benchmark over the last 12 months [8] - 95% of open-end fund AUM is rated 4 or 5-star by Morningstar, up from 94% last quarter [9] - US REITs rose by nearly 17% in the quarter, while global listed infrastructure rose by more than 13% [9] - Preferred securities outperformed high-yield bonds but trailed investment-grade bonds and 10-year treasuries [12] Market Performance - Sentiment shifted in favor of listed real assets, with real estate and global infrastructure outperforming the broader equity market [9] - Private real estate, as measured by the NCREIF ODCE Index, had a total return of 0.25%, marking the first positive quarter in two years [10] - Listed infrastructure outperformed equities, supported by the start of a new rate-cutting cycle [11] - Preferred securities had a solid gain amid declining bond yields, remaining the top-performing fixed-income category year-to-date [12] Company Strategy and Industry Competition - The company is optimistic about infrastructure as an asset class, with significant investment opportunities in listed and private infrastructure [13][14] - Listed infrastructure is expected to deliver more compelling returns versus private infrastructure, with greater access to core digital infrastructure and utilities [15] - The company is focusing on growing its global listed infrastructure strategy, which has $9.5 billion in AUM [26] - The company is adapting to industry trends, such as the migration of investment advisers to independent RIA firms and the adoption of private strategies in the wealth channel [24][25] Management Commentary on Operating Environment and Future Outlook - The company believes it is in the late stages of restoring fixed-income allocations and expects more listed allocations to benefit its business [19] - The company is excited about the investment environment for its strategies and growth initiatives, with tailwinds brewing after 2.5 years of headwinds [18][29] - The company expects its effective tax rate for Q4 to be in line with the year-to-date rate of 25.3% [6] Other Important Information - The company reported firm-wide net inflows of $1.3 billion in Q3, the first quarter of net inflows since Q1 2022 [20] - US REIT strategies led the way with $1.3 billion in net inflows, while open-end funds accounted for $1.2 billion of those inflows [20] - The company has a pipeline of $651 million, with 53% in US real estate, 22% in global listed infrastructure, and 19% in private real estate [22] Q&A Session Summary Question: How does the company expect fee rates and incremental margins to be for new business? - Inflows are going into higher-fee open-end funds, and the company is pleased with the flow [29] - The company has a long track record of stable fees and expects this to persist [30] Question: How is the company approaching the development of active ETFs and private real estate? - The company is leading with core strategies in real estate and preferreds for active ETFs and is excited about its non-traded REIT [31][32] Question: Can the company provide more color on the nature of last quarter's inflows and the level of engagement quarter-to-date? - The company had one large allocator driving inflows, and business activity has ticked up across the board [35][36] Question: What are the primary drivers of margin expansion next year, and how flexible is the expense base? - Appreciation in asset classes and raising AUM in private real estate will help margins [40] Question: Will the company's capital return framework or priorities shift as the macro backdrop becomes more conducive to flows and earnings growth? - The company maintains a strong balance sheet and is focused on predictable and growing dividends, with potential for special dividends [44][45]

COHEN & STEERS Cohen & Steers: Q3 2024 Earnings Presentation Summary of third quarter 2024 results Assets under management Flows Financial results, as adjusted • September 30, 2024 AUM was $91.8 billion versus $80.7 billion at June 30, 2024 • Average AUM was $86.2 billion for Q3 2024 versus $79.6 billion for Q2 2024 • Market appreciation of $10.4 billion for Q3 2024 versus market appreciation of $492 million for Q2 2024 • Net inflows of $1.3 billion in Q3 2024 versus net outflows of $345 million in Q2 2024 ...

COHEN & STEERS Contact: Brian Meta Senior Vice President Head of Investor Relations and FP&A Tel (212) 796-9353 COHEN & STEERS REPORTS RESULTS FOR THIRD QUARTER 2024 • Diluted earnings per share of $0.77 for both GAAP and as adjusted • Operating margin of 33.7%; 35.7%, as adjusted • Ending assets under management (AUM) of $91.8 billion; average AUM of $86.2 billion • Net inflows of $1.3 billion NEW YORK, NY, October 16, 2024—Cohen & Steers, Inc. (NYSE: CNS) today reported its results for the quarter ended S ...

NEW YORK, Oct. 16, 2024 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) today reported its results for the quarter ended September 30, 2024. The earnings release along with the accompanying earnings presentation can be viewed at Cohen & Steers Reports Results for Third Quarter 2024 and on the company's website at www.cohenandsteers.com under "Company—Investor Relations—Earnings Archive." Conference Call The company will host a conference call tomorrow, Thursday, October 17, 2024, at 10:00 a.m. (ET) to disc ...

I'm a biotech and healthcare investment analyst with several years of clinical experience and a Master of Business Administration. I've had the privilege of sharing my analyses on Seeking Alpha since 2017. Outside of spending time with family, this is my favorite thing to do. I utilize risk-return charts and DCF analyses to highlight investment opportunities and risks. I'm a big fan of the barbell strategy: 90% in safe assets like Treasuries and ETFs, and 10% in high-growth stocks—keeping risk management fr ...

NEW YORK, Oct. 9, 2024 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) announced that it expects to release third quarter 2024 results after the market closes on Wednesday, October 16, 2024. The earnings release and accompanying earnings presentation will be available on the company's website at www.cohenandsteers.com under "Company—Investor Relations—Earnings Archive." The company will host a conference call on Thursday, October 17, 2024 at 10:00 a.m. (ET) with access available via webcast and telephone. ...