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

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) saw a large increase in short interest in May. As of May 29th, there was short interest totaling 28,636 shares, an increase of 81.0% from the May 14th total of 15,821 shares. Based on an average daily volume of 86,109 shares, the short-interest ratio is presently 0.3 days.

Cohen & Steers REIT and Preferred Income Fund Stock Up 0.2%

Shares of NYSE RNP traded up $0.04 during midday trading on Tuesday, reaching $20.49. The stock had a trading volume of 61,275 shares, compared to its average volume of 128,696. Cohen & Steers REIT and Preferred Income Fund has a twelve month low of $19.27 and a twelve month high of $22.99. The company’s 50 day moving average price is $20.77 and its 200 day moving average price is $20.54.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.136 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date is Tuesday, June 9th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RNP. Heritage Wealth Advisors bought a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter worth $35,000. Murphy Middleton Hinkle & Parker Inc. bought a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter worth $59,000. US Bancorp DE grew its stake in shares of 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 acquiring an additional 2,296 shares in the last quarter. Triumph Capital Management bought a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the 3rd quarter worth $109,000. Finally, Cornerstone Wealth Management LLC grew its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 14.4% in the 4th 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 in the last quarter.

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.