Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Shares Cross Above 200-Day Moving Average – What’s Next?

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.66 and traded as high as $20.78. Cohen & Steers REIT and Preferred Income Fund shares last traded at $20.62, with a volume of 72,526 shares.

Cohen & Steers REIT and Preferred Income Fund Price Performance

The business has a 50-day moving average price of $20.58 and a 200-day moving average price of $20.66.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.136 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 8.0%.

Institutional Trading of Cohen & Steers REIT and Preferred Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ellis Investment Partners LLC boosted its position in shares of Cohen & Steers REIT and Preferred Income Fund by 1.1% during the 4th quarter. Ellis Investment Partners LLC now owns 1,226,761 shares of the investment management company’s stock valued at $24,363,000 after acquiring an additional 13,699 shares during the last quarter. Ameriprise Financial Inc. increased its position in Cohen & Steers REIT and Preferred Income Fund by 25.7% during the third quarter. Ameriprise Financial Inc. now owns 745,094 shares of the investment management company’s stock worth $16,751,000 after purchasing an additional 152,572 shares during the last quarter. Raymond James Financial Inc. increased its position in Cohen & Steers REIT and Preferred Income Fund by 1.9% during the second quarter. Raymond James Financial Inc. now owns 705,164 shares of the investment management company’s stock worth $16,057,000 after purchasing an additional 13,218 shares during the last quarter. Wells Fargo & Company MN increased its position in Cohen & Steers REIT and Preferred Income Fund by 41.3% during the fourth quarter. Wells Fargo & Company MN now owns 686,030 shares of the investment management company’s stock worth $13,625,000 after purchasing an additional 200,429 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Cohen & Steers REIT and Preferred Income Fund by 9.4% during the first quarter. Bank of America Corp DE now owns 600,823 shares of the investment management company’s stock worth $11,872,000 after purchasing an additional 51,660 shares during the period.

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.