Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.05 and traded as high as $21.31. Cohen & Steers REIT and Preferred Income Fund shares last traded at $21.1580, with a volume of 82,424 shares changing hands.

Cohen & Steers REIT and Preferred Income Fund Stock Down 1.0%

The business’s fifty day simple moving average is $20.79 and its 200 day simple moving average is $21.05.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a $0.136 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 7.9%.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Intellus Advisors LLC grew its holdings in Cohen & Steers REIT and Preferred Income Fund by 5.2% during the second quarter. Intellus Advisors LLC now owns 9,721 shares of the investment management company’s stock worth $221,000 after acquiring an additional 482 shares during the period. WealthBridge Capital Management LLC grew its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 2.3% in the 3rd quarter. WealthBridge Capital Management LLC now owns 22,450 shares of the investment management company’s stock worth $505,000 after purchasing an additional 500 shares during the last quarter. Secure Asset Management LLC raised its holdings in shares of Cohen & Steers REIT and Preferred Income Fund by 2.7% in the 3rd quarter. Secure Asset Management LLC now owns 25,824 shares of the investment management company’s stock worth $577,000 after purchasing an additional 681 shares in the last quarter. Fifth Third Bancorp lifted its stake in Cohen & Steers REIT and Preferred Income Fund by 10.1% during the third quarter. Fifth Third Bancorp now owns 9,913 shares of the investment management company’s stock valued at $223,000 after purchasing an additional 913 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Cohen & Steers REIT and Preferred Income Fund by 8.3% during the third quarter. PNC Financial Services Group Inc. now owns 14,934 shares of the investment management company’s stock worth $336,000 after buying an additional 1,145 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.