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

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

Institutional Trading of Cohen & Steers REIT and Preferred Income Fund

Several hedge funds have recently made changes to their positions in RNP. Cornerstone Wealth Management LLC raised its position in Cohen & Steers REIT and Preferred Income Fund by 14.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 10,693 shares of the investment management company’s stock valued at $212,000 after purchasing an additional 1,347 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Cohen & Steers REIT and Preferred Income Fund by 9.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,468 shares of the investment management company’s stock worth $327,000 after buying an additional 1,356 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 9.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,123 shares of the investment management company’s stock valued at $327,000 after buying an additional 1,395 shares during the period. Heritage Wealth Advisors bought a new position in shares of Cohen & Steers REIT and Preferred Income Fund during the fourth quarter valued at approximately $35,000. Finally, Envestnet Asset Management Inc. lifted its stake in Cohen & Steers REIT and Preferred Income Fund by 12.8% in the third quarter. Envestnet Asset Management Inc. now owns 16,371 shares of the investment management company’s stock worth $368,000 after acquiring an additional 1,852 shares during the period.

Cohen & Steers REIT and Preferred Income Fund Stock Performance

NYSE RNP traded up $0.06 during trading hours on Friday, reaching $20.36. 102,418 shares of the company were exchanged, compared to its average volume of 120,677. Cohen & Steers REIT and Preferred Income Fund has a 1 year low of $19.27 and a 1 year high of $22.58. The business’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 Announces Dividend

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

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.