Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $21.14 and traded as high as $21.23. Cohen & Steers REIT and Preferred Income Fund shares last traded at $21.12, with a volume of 111,147 shares.

Cohen & Steers REIT and Preferred Income Fund Stock Performance

The business has a 50-day moving average price of $20.07 and a 200 day moving average price of $21.14.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors 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) dividend on an annualized basis and a yield of 7.7%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the third quarter valued at approximately $38,000. Allworth Financial LP grew its position in Cohen & Steers REIT and Preferred Income Fund by 330.7% during the 2nd quarter. Allworth Financial LP now owns 2,214 shares of the investment management company’s stock worth $50,000 after purchasing an additional 1,700 shares in the last quarter. Eastern Bank purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the third quarter valued at $54,000. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the fourth quarter valued at $59,000. Finally, CX Institutional purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the third quarter valued at $68,000.

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.