Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $20.33 and traded as low as $18.11. Cohen & Steers REIT and Preferred Income Fund shares last traded at $18.1560, with a volume of 229,494 shares changing hands.

Cohen & Steers REIT and Preferred Income Fund Stock Performance

The stock has a 50-day moving average of $19.87 and a 200 day moving average of $20.31.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 8th will be issued a dividend of $0.1360 per share. This represents a $1.63 annualized dividend and a dividend yield of 9.0%. The ex-dividend date is Tuesday, December 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. XML Financial LLC boosted its holdings in Cohen & Steers REIT and Preferred Income Fund by 34.5% in the 1st quarter. XML Financial LLC now owns 561,075 shares of the investment management company’s stock valued at $11,087,000 after purchasing an additional 144,035 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the 2nd quarter worth approximately $2,761,000. Bank of America Corp DE increased its holdings in shares of Cohen & Steers REIT and Preferred Income Fund by 9.4% during the 1st quarter. Bank of America Corp DE now owns 600,823 shares of the investment management company’s stock worth $11,872,000 after buying an additional 51,660 shares during the last quarter. Independent Financial Group LLC purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the 1st quarter valued at approximately $757,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the 2nd quarter valued at approximately $2,921,000.

Cohen & Steers REIT and Preferred Income Fund Company Profile

Cohen & Steers REIT and Preferred Income Fund, Inc (NYSE: RNP) is a closed-end investment company managed by Cohen & Steers Capital Management. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

RNP invests primarily in real estate investment trusts (REITs) and preferred securities. Its portfolio may include common and preferred securities issued by companies involved in commercial, residential, health care, industrial, retail, and other areas of the real estate industry, along with preferred stocks and other income-producing securities.

The fund was established in 2003 and is designed to provide investors with diversified exposure to real estate and preferred-income markets through a professionally managed portfolio.