Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Stock Passes Above 200-Day Moving Average – Here’s Why

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.05 and traded as high as $21.31. Cohen & Steers REIT and Preferred Income Fund shares last traded at $21.1580, with a volume of 82,424 shares traded.

Cohen & Steers REIT and Preferred Income Fund Stock Down 0.4%

The firm has a 50 day simple moving average of $20.76 and a 200-day simple moving average of $21.05.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.136 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%.

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

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