Preferred Shares Offer Strong Income Potential, but Selection Is Becoming More Challenging.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 04 2025
0mins
Source: Barron's
Preferred Shares as Investment: Preferred shares are attractive investment options currently, offering yields between 6% and 7% amidst limited safe yield opportunities.
Hybrid Security Characteristics: These securities combine features of both stocks and bonds, making them a unique investment choice.
Strong Bank Sector Fundamentals: High-rated financial firms, particularly in the banking sector, are performing well, with strong earnings growth and successful stress test results.
Regulatory Environment: Banks are experiencing reduced regulatory pressure, contributing to their favorable financial conditions.
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Analyst Views on CNS
Wall Street analysts forecast CNS stock price to fall
1 Analyst Rating
0 Buy
0 Hold
1 Sell
Moderate Sell
Current: 71.610
Low
63.00
Averages
63.00
High
63.00
Current: 71.610
Low
63.00
Averages
63.00
High
63.00
About CNS
Cohen & Steers, Inc. is a holding company, which is engaged in global investment management. The Company is specialized in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. The Company’s distribution network encompasses two channels, wealth and institutional. Its wealth channel includes registered investment advisers, wire houses, independent and regional broker dealers and bank trusts. Its institutional channel includes sovereign wealth funds, corporate plans, insurance companies and public funds, including defined benefit and defined contribution plans, as well as other financial institutions that access its investment management services directly or through consultants and other intermediaries. The Company manages three types of investment vehicles, such as open-end funds, institutional accounts, and closed end.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cohen & Steers Infrastructure Fund Distribution Update
- Distribution Policy Implementation: The Cohen & Steers Infrastructure Fund has implemented a managed distribution policy since March 2015, aiming to provide shareholders with long-term total return potential through regular monthly distributions, thereby enhancing investor confidence.
- Current Distribution Amount: The total distribution per share for May 2026 is $0.1650, which includes 32.18% from net investment income and 63.09% from long-term capital gains, demonstrating the fund's effective strategy in diversifying income sources.
- Annual Return Rate: As of April 30, 2026, the fund's year-to-date cumulative total return stands at 116.71%, while the current annualized distribution rate is 46.79%, indicating strong performance and attractiveness in the market.
- Impact of Capital Return: The fund's distributions may include return of capital, which reduces shareholders' tax basis; although this may affect market prices, it also provides investors with flexible tax management options.
See More
Cohen & Steers Appoints New CFO Amit Muni
- Executive Change: Cohen & Steers announced that Amit Muni will join as EVP and CFO on June 8, 2026, overseeing finance operations, financial strategy, and investor relations, indicating a strategic shift in the company's leadership.
- Succession Plan: Muni will replace Michael Donohue, who has served as interim CFO since October 2025, with Donohue continuing as controller after Muni's appointment, ensuring continuity in financial management.
- Financial Outlook: Cohen & Steers expects a 40% compensation ratio and mid-single-digit growth in general and administrative expenses for 2026, reflecting a robust financial strategy amid ETF expansion.
- Market Reaction: This executive change may impact investor confidence, particularly as the company navigates challenges in private markets, with expectations placed on Muni's financial leadership capabilities.
See More
Cohen & Steers Appoints New CFO Amit Muni
- Executive Appointment: Cohen & Steers has announced the appointment of Amit Muni as Chief Financial Officer, effective June 8, 2026, where he will lead the firm's financial operations and strategy, joining the Executive Committee and reporting directly to CEO Joseph Harvey.
- Succession Plan: Muni succeeds Michael Donohue, who has served as Interim CFO since October 17, 2025, and will continue as Controller after Muni's appointment, ensuring a smooth transition within the finance department.
- Extensive Experience: Muni brings over 20 years of experience in public markets and asset management, having managed over $550 billion in assets as CFO at CI Financial Corp. and previously serving as CFO at WisdomTree, which positions him well to drive strategic growth initiatives.
- Strategic Focus: CEO Harvey emphasized that Muni's appointment will aid in expanding the global real assets platform, growing in the wealth channel, and building private market capabilities, reflecting the company's commitment to long-term value creation for shareholders.
See More
Cohen & Steers Appoints New CFO Amit Muni
- Executive Appointment: Cohen & Steers has announced the appointment of Amit Muni as Chief Financial Officer, effective June 8, 2026, where he will lead the firm's financial operations and strategy, joining the Executive Committee and reporting directly to CEO Joseph Harvey.
- Succession Plan: Muni succeeds Mike Donohue, who has served as Interim CFO since October 17, 2025, and will continue as Controller post-transition, ensuring a stable handover within the finance department.
- Extensive Experience: Muni previously served as CFO at CI Financial Corp., managing over $550 billion in assets, and held executive roles at WisdomTree, showcasing a strong background in capital markets and asset management that will aid in driving strategic growth for the firm.
- Strategic Objectives: CEO Harvey emphasized that Muni's appointment will advance the company's expansion in the global real assets platform, enhance capabilities in the wealth channel and private markets, aiming to deliver long-term value for shareholders.
See More
Cohen & Steers Partners with J.P. Morgan to Launch New Fund
- Strategic Partnership: Cohen & Steers has partnered with J.P. Morgan to distribute the SICAV Short Duration Hybrid Credit & Income Fund to international investors via its global wealth management platform, aiming to provide high-yield cash alternatives for clients outside the U.S.
- Investment Focus: The fund targets global hybrid credit securities, which typically offer higher yields than similarly rated standard fixed-income instruments, while maintaining a weighted average duration of under three years to minimize overall portfolio interest-rate sensitivity.
- Income Generation Strategy: Elaine Zaharis‑Nikas from Cohen & Steers emphasized hybrid credit as a strong option for generating high-quality income, with their short-duration strategy designed to provide attractive yields while being less sensitive to interest rate changes.
- Market Outlook: Cohen & Steers expects a 40% compensation ratio and mid-single-digit growth in general and administrative expenses for 2026 amid ETF expansion, despite a decrease in assets under management as of the end of March.
See More
Cohen & Steers Partners with J.P. Morgan for New Fund Access
- Global Wealth Management Partnership: Cohen & Steers partners with J.P. Morgan to provide access to the Cohen & Steers SICAV Short Duration Hybrid Credit & Income Fund for investors outside the U.S., leveraging J.P. Morgan's global wealth management platform to expand its client base and offer a cash alternative.
- Clear Investment Objectives: The fund aims for high current income as its primary goal and capital preservation as a secondary goal, investing in global hybrid credit securities while targeting a weighted average duration of less than three years to reduce portfolio interest-rate sensitivity and adapt to market changes.
- High Yield Potential: Hybrid credit securities offer higher yield opportunities than similarly rated bonds, and Cohen & Steers' short-duration strategy is designed to help investors harvest attractive yields while mitigating interest-rate risk, thereby enhancing investor confidence in a shifting rate environment.
- Industry Diversification Trend: The Head of International Wholesale Distribution at Cohen & Steers noted that this partnership highlights a broader industry shift towards greater diversification within fixed income portfolio allocations, further solidifying its pioneering position in hybrid credit strategies.
See More
Cohen & Steers Infrastructure Fund Distribution Update
- Distribution Policy Implementation: The Cohen & Steers Infrastructure Fund has implemented a managed distribution policy since March 2015, aiming to provide shareholders with long-term total return potential through regular monthly distributions, thereby enhancing investor confidence.
- Current Distribution Amount: The total distribution per share for May 2026 is $0.1650, which includes 32.18% from net investment income and 63.09% from long-term capital gains, demonstrating the fund's effective strategy in diversifying income sources.
- Annual Return Rate: As of April 30, 2026, the fund's year-to-date cumulative total return stands at 116.71%, while the current annualized distribution rate is 46.79%, indicating strong performance and attractiveness in the market.
- Impact of Capital Return: The fund's distributions may include return of capital, which reduces shareholders' tax basis; although this may affect market prices, it also provides investors with flexible tax management options.
See More
Cohen & Steers Appoints New CFO Amit Muni
- Executive Change: Cohen & Steers announced that Amit Muni will join as EVP and CFO on June 8, 2026, overseeing finance operations, financial strategy, and investor relations, indicating a strategic shift in the company's leadership.
- Succession Plan: Muni will replace Michael Donohue, who has served as interim CFO since October 2025, with Donohue continuing as controller after Muni's appointment, ensuring continuity in financial management.
- Financial Outlook: Cohen & Steers expects a 40% compensation ratio and mid-single-digit growth in general and administrative expenses for 2026, reflecting a robust financial strategy amid ETF expansion.
- Market Reaction: This executive change may impact investor confidence, particularly as the company navigates challenges in private markets, with expectations placed on Muni's financial leadership capabilities.
See More
Cohen & Steers Appoints New CFO Amit Muni
- Executive Appointment: Cohen & Steers has announced the appointment of Amit Muni as Chief Financial Officer, effective June 8, 2026, where he will lead the firm's financial operations and strategy, joining the Executive Committee and reporting directly to CEO Joseph Harvey.
- Succession Plan: Muni succeeds Michael Donohue, who has served as Interim CFO since October 17, 2025, and will continue as Controller after Muni's appointment, ensuring a smooth transition within the finance department.
- Extensive Experience: Muni brings over 20 years of experience in public markets and asset management, having managed over $550 billion in assets as CFO at CI Financial Corp. and previously serving as CFO at WisdomTree, which positions him well to drive strategic growth initiatives.
- Strategic Focus: CEO Harvey emphasized that Muni's appointment will aid in expanding the global real assets platform, growing in the wealth channel, and building private market capabilities, reflecting the company's commitment to long-term value creation for shareholders.
See More
Cohen & Steers Appoints New CFO Amit Muni
- Executive Appointment: Cohen & Steers has announced the appointment of Amit Muni as Chief Financial Officer, effective June 8, 2026, where he will lead the firm's financial operations and strategy, joining the Executive Committee and reporting directly to CEO Joseph Harvey.
- Succession Plan: Muni succeeds Mike Donohue, who has served as Interim CFO since October 17, 2025, and will continue as Controller post-transition, ensuring a stable handover within the finance department.
- Extensive Experience: Muni previously served as CFO at CI Financial Corp., managing over $550 billion in assets, and held executive roles at WisdomTree, showcasing a strong background in capital markets and asset management that will aid in driving strategic growth for the firm.
- Strategic Objectives: CEO Harvey emphasized that Muni's appointment will advance the company's expansion in the global real assets platform, enhance capabilities in the wealth channel and private markets, aiming to deliver long-term value for shareholders.
See More
Cohen & Steers Partners with J.P. Morgan to Launch New Fund
- Strategic Partnership: Cohen & Steers has partnered with J.P. Morgan to distribute the SICAV Short Duration Hybrid Credit & Income Fund to international investors via its global wealth management platform, aiming to provide high-yield cash alternatives for clients outside the U.S.
- Investment Focus: The fund targets global hybrid credit securities, which typically offer higher yields than similarly rated standard fixed-income instruments, while maintaining a weighted average duration of under three years to minimize overall portfolio interest-rate sensitivity.
- Income Generation Strategy: Elaine Zaharis‑Nikas from Cohen & Steers emphasized hybrid credit as a strong option for generating high-quality income, with their short-duration strategy designed to provide attractive yields while being less sensitive to interest rate changes.
- Market Outlook: Cohen & Steers expects a 40% compensation ratio and mid-single-digit growth in general and administrative expenses for 2026 amid ETF expansion, despite a decrease in assets under management as of the end of March.
See More
Cohen & Steers Partners with J.P. Morgan for New Fund Access
- Global Wealth Management Partnership: Cohen & Steers partners with J.P. Morgan to provide access to the Cohen & Steers SICAV Short Duration Hybrid Credit & Income Fund for investors outside the U.S., leveraging J.P. Morgan's global wealth management platform to expand its client base and offer a cash alternative.
- Clear Investment Objectives: The fund aims for high current income as its primary goal and capital preservation as a secondary goal, investing in global hybrid credit securities while targeting a weighted average duration of less than three years to reduce portfolio interest-rate sensitivity and adapt to market changes.
- High Yield Potential: Hybrid credit securities offer higher yield opportunities than similarly rated bonds, and Cohen & Steers' short-duration strategy is designed to help investors harvest attractive yields while mitigating interest-rate risk, thereby enhancing investor confidence in a shifting rate environment.
- Industry Diversification Trend: The Head of International Wholesale Distribution at Cohen & Steers noted that this partnership highlights a broader industry shift towards greater diversification within fixed income portfolio allocations, further solidifying its pioneering position in hybrid credit strategies.
See More
