Cohen & Steers Shares Hit Lowest Point in a Year Amid Fund Outflows

Shares of asset management firm Cohen & Steers have declined to a 52-week low of $58.39, marking a year-over-year drop of approximately 41.4%. This pressure on the stock price persists even as the company reports stronger-than-anticipated quarterly earnings and launches new investment products in an effort to diversify its offerings and stem persistent net outflows.

For the third quarter of 2025, Cohen & Steers delivered financial results that exceeded market expectations. The company reported earnings per share of $0.81, surpassing the forecast of $0.78. Revenue reached $141.72 million, also beating estimates of $139.13 million. In conjunction with these results, a quarterly dividend of $0.62 per share was declared. This dividend was payable on November 20 to shareholders of record as of November 10.

Assets Under Management: A Mixed Picture

The firm's preliminary assets under management (AUM) stood at $91.9 billion as of November 30. This figure represents an increase of $1.3 billion from the $90.6 billion reported on October 31. However, this growth was primarily driven by positive market movements, which added $2.0 billion. This gain was partially offset by net outflows of $502 million and distributions to investors totaling $151 million.

The previous month's data highlights the ongoing challenge. AUM on October 31 was $90.6 billion, a $312 million decrease from $90.9 billion on September 30. That decline was caused by market depreciation of $1.3 billion and distributions of $150 million, which were only partially mitigated by net inflows of $1.1 billion.

Should investors sell immediately? Or is it worth buying Cohen, Steers?

Expansion into Active ETFs

On December 10, Cohen & Steers introduced two new actively managed exchange-traded funds (ETFs) on the NYSE Arca. The launches are the Cohen & Steers Infrastructure Opportunities Active ETF (CSIO) and the Cohen & Steers Short Duration Preferred and Income Active ETF (CSSD). These products focus on infrastructure assets and preferred securities, respectively, aiming to provide alternative income streams. The company highlights the ETFs' benefits, including lower costs, tax efficiency, transparency, and intraday liquidity. With these additions, Cohen & Steers now manages five active ETFs spanning real assets and preferred securities.

Outlook and Recognition

Despite the operational achievements, the near-term trajectory for the stock remains under pressure. The November AUM increase, while positive, was largely market-generated, while net outflows and distributions continue to remove capital from the firm. The critical question for future share performance is whether the new ETF strategies can attract sustainable investor capital and help stabilize the AUM trend. As long as net outflows persist, they are likely to remain a headwind for the equity.

In a separate note, Cohen & Steers was recognized for the sixth consecutive year by Pensions & Investments as a "Best Place to Work in Money Management."