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Aug. 7, 2014 /PRNewswire/ -- Martin Cohen and
Robert Steers will ring the closing bell of the New York Stock Exchange today in commemoration of Cohen & Steers, Inc.'s (NYSE: CNS) 10 years as a publicly traded company. At its initial public offering (IPO) on
August 12, 2004, Cohen & Steers debuted at
$13 per share. 10 years later, on
August 6, 2014, CNS stock closed at
$42.49, and together with quarterly and special dividends, has resulted in total value per share of
$53.81. Over the past decade Cohen & Steers has passed several milestones in achieving its long-term vision of becoming a leading manager of real asset strategies, building from its long standing renown as a listed U.S. real estate investor.
The firm's core institutional asset base has grown significantly since its IPO, as have the open-end and closed-end mutual fund businesses. Assets under management more than tripled since
August 12, 2004, from
$15 billion to $52 billion at
June 30, 2014. The number of professionals driving Cohen & Steers' success also expanded more than threefold during this time, from 76 to 260. Offices were opened in
Seattle, in addition to the
New York headquarters, in keeping with the firm's rising global presence.
Robert Steers, Chief Executive Officer of Cohen & Steers, remarked, "Today we ring the bell to celebrate and look back on our history of innovation as we sharpen our focus on real assets investing for the future."
Martin Cohen, Executive Chairman, added, "We've witnessed marked development of the scope of our business, from our origins in REITs and other income-oriented strategies to a comprehensive suite of real assets solutions."
More information is available at cohenandsteers.com.