Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $20.56 and traded as high as $20.69. Cohen & Steers REIT and Preferred Income Fund shares last traded at $20.6770, with a volume of 98,548 shares changing hands.

Cohen & Steers REIT and Preferred Income Fund Price Performance

The firm has a 50 day moving average price of $20.68 and a 200-day moving average price of $20.56.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be paid a $0.136 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 7.9%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC raised its holdings in Cohen & Steers REIT and Preferred Income Fund by 387.9% during the fourth quarter. Future Financial Wealth Managment LLC now owns 57,328 shares of the investment management company’s stock worth $1,153,000 after purchasing an additional 45,578 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter valued at $2,527,000. Shaker Financial Services LLC purchased a new position in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter valued at $802,000. XML Financial LLC grew its position in shares of 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 buying an additional 144,035 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Cohen & Steers REIT and Preferred Income Fund by 809.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 137,222 shares of the investment management company’s stock worth $2,725,000 after acquiring an additional 122,129 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.