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

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.61 and traded as high as $20.84. Cohen & Steers REIT and Preferred Income Fund shares last traded at $20.6510, with a volume of 118,336 shares changing hands.

Cohen & Steers REIT and Preferred Income Fund Price Performance

The company has a 50 day simple moving average of $20.66 and a 200-day simple moving average of $20.61.

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. Investors 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) annualized dividend and a yield of 7.9%.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Focus Partners Wealth boosted its position in Cohen & Steers REIT and Preferred Income Fund by 414.6% during the first quarter. Focus Partners Wealth now owns 20,182 shares of the investment management company’s stock worth $445,000 after purchasing an additional 16,260 shares during the period. Raymond James Financial Inc. raised its position in shares of Cohen & Steers REIT and Preferred Income Fund by 1.9% in the second quarter. Raymond James Financial Inc. now owns 705,164 shares of the investment management company’s stock valued at $16,057,000 after purchasing an additional 13,218 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 34.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 592,522 shares of the investment management company’s stock valued at $13,491,000 after buying an additional 153,288 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 12.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,371 shares of the investment management company’s stock valued at $368,000 after buying an additional 1,852 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Cohen & Steers REIT and Preferred Income Fund by 182.1% in the 3rd quarter. US Bancorp DE now owns 3,557 shares of the investment management company’s stock worth $80,000 after buying an additional 2,296 shares during the period.

Cohen & Steers REIT and Preferred Income Fund Company Profile

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.