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

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.61 and traded as high as $20.84. Cohen & Steers REIT and Preferred Income Fund shares last traded at $20.6510, with a volume of 118,336 shares traded.

Cohen & Steers REIT and Preferred Income Fund Price Performance

The stock has a 50-day moving average price of $20.67 and a two-hundred day moving average price of $20.61.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Ellis Investment Partners LLC lifted its position in shares of Cohen & Steers REIT and Preferred Income Fund by 1.1% in the 4th quarter. Ellis Investment Partners LLC now owns 1,226,761 shares of the investment management company’s stock worth $24,363,000 after purchasing an additional 13,699 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 25.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 745,094 shares of the investment management company’s stock valued at $16,751,000 after purchasing an additional 152,572 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of 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 valued at $16,057,000 after buying an additional 13,218 shares during the period. Wells Fargo & Company MN increased its position in shares of 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 buying an additional 200,429 shares during the period. Finally, Bank of America Corp DE raised 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 worth $11,872,000 after buying an additional 51,660 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.