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

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $21.11 and traded as high as $21.74. Cohen & Steers REIT and Preferred Income Fund shares last traded at $21.3740, with a volume of 102,143 shares changing hands.

Cohen & Steers REIT and Preferred Income Fund Stock Down 1.3%

The business has a 50 day simple moving average of $20.22 and a 200-day simple moving average of $21.11.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a $0.136 dividend. This represents a c) dividend on an annualized basis and a yield of 7.6%. The ex-dividend date is Tuesday, March 10th.

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

Hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the 3rd quarter worth $38,000. Heritage Wealth Advisors purchased a new stake in Cohen & Steers REIT and Preferred Income Fund during the fourth quarter valued at about $35,000. Allworth Financial LP increased its stake in Cohen & Steers REIT and Preferred Income Fund by 330.7% during the second quarter. Allworth Financial LP now owns 2,214 shares of the investment management company’s stock worth $50,000 after acquiring an additional 1,700 shares during the last quarter. Eastern Bank purchased a new position in shares of Cohen & Steers REIT and Preferred Income Fund in the 3rd quarter worth about $54,000. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new position in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter worth about $59,000.

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.