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

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) saw a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 9,379 shares, a decline of 49.0% from the July 30th total of 18,404 shares. Based on an average trading volume of 99,770 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Cohen & Steers REIT and Preferred Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ellis Investment Partners LLC grew its stake in Cohen & Steers REIT and Preferred Income Fund by 1.1% in the fourth quarter. Ellis Investment Partners LLC now owns 1,226,761 shares of the investment management company’s stock valued at $24,363,000 after acquiring an additional 13,699 shares during the period. Ameriprise Financial Inc. increased its stake in Cohen & Steers REIT and Preferred Income Fund by 25.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 745,094 shares of the investment management company’s stock valued at $16,751,000 after buying an additional 152,572 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in Cohen & Steers REIT and Preferred Income Fund by 1.9% during the second quarter. Raymond James Financial Inc. now owns 705,164 shares of the investment management company’s stock worth $16,057,000 after acquiring an additional 13,218 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Cohen & Steers REIT and Preferred Income Fund by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 686,030 shares of the investment management company’s stock worth $13,625,000 after buying an additional 200,429 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Cohen & Steers REIT and Preferred Income Fund by 9.4% in the first quarter. Bank of America Corp DE now owns 600,823 shares of the investment management company’s stock valued at $11,872,000 after acquiring an additional 51,660 shares during the last quarter.

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

Shares of NYSE:RNP traded down $0.20 during trading on Monday, reaching $20.16. The stock had a trading volume of 183,212 shares, compared to its average volume of 121,054. Cohen & Steers REIT and Preferred Income Fund has a 52 week low of $19.27 and a 52 week high of $22.58. The firm’s fifty day moving average is $20.49 and its 200 day moving average is $20.68.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be given a dividend of $0.136 per share. The ex-dividend date is Tuesday, September 8th. This represents a c) annualized dividend and a dividend yield of 8.1%.

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.