Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) Sees Large Decrease in Short Interest

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) was the target of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 9,379 shares, a decrease of 49.0% from the July 30th total of 18,404 shares. Based on an average daily trading volume, of 99,770 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Cohen & Steers REIT and Preferred Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Heritage Wealth Advisors bought a new position in shares of Cohen & Steers REIT and Preferred Income Fund during the 4th quarter worth approximately $35,000. Keating Financial Advisory Services Inc. bought a new position in shares of Cohen & Steers REIT and Preferred Income Fund in the second quarter valued at approximately $77,000. US Bancorp DE increased its position in shares of Cohen & Steers REIT and Preferred Income Fund by 182.1% during the third quarter. US Bancorp DE now owns 3,557 shares of the investment management company’s stock valued at $80,000 after acquiring an additional 2,296 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the third quarter valued at approximately $109,000. Finally, Cornerstone Wealth Management LLC lifted its holdings in Cohen & Steers REIT and Preferred Income Fund by 14.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 10,693 shares of the investment management company’s stock worth $212,000 after acquiring an additional 1,347 shares during the period.

Cohen & Steers REIT and Preferred Income Fund Price Performance

NYSE:RNP traded up $0.06 during trading hours on Friday, hitting $20.36. 102,418 shares of the company traded hands, compared to its average volume of 120,677. The firm’s 50-day simple moving average is $20.49 and its 200-day simple moving average is $20.68. Cohen & Steers REIT and Preferred Income Fund has a one year low of $19.27 and a one year high of $22.58.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 8th will be issued a $0.136 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) annualized dividend and a dividend yield of 8.0%.

About Cohen & Steers REIT and Preferred Income Fund

Cohen & Steers® REIT and Preferred Income Fund, Inc (NYSE: RNP) is a closed-end management investment company that seeks to provide current income and, to a lesser extent, capital appreciation. The Fund pursues its objectives by investing primarily in equity real estate investment trusts (REITs) and preferred securities issued by U.S. and non-U.S. real estate companies. It employs a research-driven, bottom-up selection process to identify securities that offer attractive income yields while seeking to manage downside risk through diversification across sectors and geographies.

In its equity portfolio, the Fund typically holds shares of publicly traded REITs spanning property types such as industrial, office, retail, residential and specialty real estate.