Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP)’s stock price crossed 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 $20.81. Cohen & Steers REIT and Preferred Income Fund shares last traded at $20.6640, with a volume of 92,974 shares trading hands.

Cohen & Steers REIT and Preferred Income Fund Stock Performance

The firm’s 50 day moving average price is $20.76 and its 200 day moving average price is $20.61.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.136 per share. This represents a c) annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend is Tuesday, June 9th.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Heritage Wealth Advisors bought a new position in shares of Cohen & Steers REIT and Preferred Income Fund during the fourth quarter valued at about $35,000. Global Retirement Partners LLC bought a new position in shares of Cohen & Steers REIT and Preferred Income Fund during the third quarter valued at about $38,000. Eastern Bank bought a new position in shares of Cohen & Steers REIT and Preferred Income Fund during the third quarter valued at about $54,000. Murphy Middleton Hinkle & Parker Inc. bought a new position in Cohen & Steers REIT and Preferred Income Fund in the fourth quarter worth about $59,000. Finally, CX Institutional bought a new position in Cohen & Steers REIT and Preferred Income Fund in the third quarter worth about $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.