Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.07 and traded as high as $21.86. Cohen & Steers REIT and Preferred Income Fund shares last traded at $21.82, with a volume of 190,531 shares trading hands.

Cohen & Steers REIT and Preferred Income Fund Trading Up 0.4%

The business’s fifty day simple moving average is $20.63 and its 200-day simple moving average is $21.08.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a dividend of $0.136 per share. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Tuesday, March 10th.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Readystate Asset Management LP purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter valued at about $4,794,000. Wells Fargo & Company MN lifted 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 valued at $13,625,000 after purchasing an additional 200,429 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Cohen & Steers REIT and Preferred Income Fund by 34.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 592,522 shares of the investment management company’s stock worth $13,491,000 after buying an additional 153,288 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter worth $2,527,000. Finally, Koshinski Asset Management Inc. raised its position in shares of Cohen & Steers REIT and Preferred Income Fund by 157.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 204,968 shares of the investment management company’s stock valued at $4,608,000 after buying an additional 125,259 shares in the last quarter.

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.