Cohen & Steers Upgraded to Buy Citing New ETF Launches and Private Real Estate Hires
Analyst upgraded Cohen & Steers from Hold to Buy, citing successful recent ETF launches that build on earlier offerings and expecting additional inflows. The firm added leadership roles in private real estate and Japan markets and will release Q4 and full year 2025 results on January 22, 2026.
1. Rating Upgrade Driven by Product Innovation
Analyst coverage of Cohen & Steers, Inc. was raised from Hold to Buy following the firm’s launch of three new thematic ETFs over the past six months. These ETFs build on the success of its flagship real estate and infrastructure strategies, which attracted over $1.2 billion of net inflows in 2025. The new products focus on renewable energy infrastructure, private credit opportunities and Asian real estate income, each backed by proprietary research and a track record of 5%–7% annualized distributions in comparable vehicles. With total assets under management of $68 billion as of December 31, 2025, the firm is positioned to capitalize on an expanding ETF market and deliver further scale benefits to clients and shareholders.
2. Strategic Leadership Additions to Fuel Growth
In the fourth quarter, Cohen & Steers appointed Emily Nakamura as Head of Japan Real Estate and David Chen as Senior Managing Director of Global Private Real Estate. Nakamura joins from a leading Tokyo-based investment trust, bringing 15 years of local asset management experience and relationships with top institutional investors. Chen, previously at a major global asset manager, will oversee a team of 20 analysts and portfolio managers across New York, London and Singapore. Management expects these hires to accelerate deal sourcing in high-growth Asian markets and expand the private real estate division’s $12 billion portfolio by an additional 15% over the next 12 months.
3. Upcoming Fourth Quarter and Full Year Results
Cohen & Steers will report fourth quarter and full year 2025 results after market close on January 22, 2026, followed by a conference call on January 23 at 10:00 a.m. ET. Chief Executive Officer Joseph Harvey, Interim CFO Michael Donohue and President & CIO Jon Cheigh will outline performance drivers, including fee-related earnings tied to record levels of strategic-beta ETF assets, and provide guidance for 2026. Investors can access the webcast via the company’s website, with a replay available for two weeks. The call is expected to shed light on net management fees, quarterly net inflows trends and margin expansion targets for the real assets platform.