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Thursday, April 22, 2010

Cohen & Steers Ropes In More Profits

Reported by Stephanie Bernhard

New York asset management company Cohen & Steers reported a profit for the first quarter of 2010 compared to a loss last year, according to a release published yesterday. The firm reported Q1 2010 income attributable to common shareholders of $8.9 million, or $0.21 per share, compared with a loss of $14.5 million or $0.34 per share for Q1 2009.

A Reuters poll of five analysts expected Cohen & Steers to earn $0.22 per share for Q1, according to a published report.

Cohen & Steers had $27.2 billion as of March 31, 2010, representing an increase of 134.5 percent from $11.6 billion a year earlier. The firm experienced net inflows of $5.2 billion in the one-year period. The firm returned to black in the third quarter of 2009, as The MFWire previously reported

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