Short Interest in Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) Rises By 121.3%

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 20,754 shares, an increase of 121.3% from the August 15th total of 9,379 shares. Based on an average daily volume of 110,270 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cornerstone Wealth Management LLC increased its position in shares of 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 valued at $212,000 after purchasing an additional 1,347 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Cohen & Steers REIT and Preferred Income Fund by 9.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,123 shares of the investment management company’s stock worth $327,000 after purchasing an additional 1,395 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Cohen & Steers REIT and Preferred Income Fund during the second quarter worth $44,000. Intellus Advisors LLC boosted its stake in Cohen & Steers REIT and Preferred Income Fund by 29.5% during the fourth quarter. Intellus Advisors LLC now owns 16,240 shares of the investment management company’s stock worth $323,000 after buying an additional 3,702 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. bought a new stake in Cohen & Steers REIT and Preferred Income Fund in the 2nd quarter valued at $77,000.

Cohen & Steers REIT and Preferred Income Fund Stock Performance

NYSE RNP traded down $0.02 during trading on Tuesday, hitting $19.49. The company’s stock had a trading volume of 175,692 shares, compared to its average volume of 120,627. The firm has a 50 day moving average price of $20.39 and a 200 day moving average price of $20.57. Cohen & Steers REIT and Preferred Income Fund has a 52 week low of $19.27 and a 52 week high of $22.58.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be issued a $0.136 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 8.4%.

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.