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

Shares of Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.55 and traded as high as $20.76. Cohen & Steers REIT and Preferred Income Fund shares last traded at $20.59, with a volume of 59,787 shares trading hands.

Cohen & Steers REIT and Preferred Income Fund Trading Up 1.1%

The business has a fifty day moving average price of $20.57 and a two-hundred day moving average price of $20.54.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a $0.136 dividend. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Tuesday, June 9th.

Institutional Trading of Cohen & Steers REIT and Preferred Income Fund

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position 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 acquiring an additional 51,660 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 2.4% during the 1st quarter. Royal Bank of Canada now owns 313,200 shares of the investment management company’s stock worth $6,189,000 after acquiring an additional 7,430 shares in the last quarter. Independent Financial Group LLC bought a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the 1st quarter worth about $757,000. Fifth Third Bancorp boosted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 166.3% during the 1st quarter. Fifth Third Bancorp now owns 26,400 shares of the investment management company’s stock worth $522,000 after acquiring an additional 16,487 shares in the last quarter. Finally, XML Financial LLC boosted its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 34.5% during the 1st quarter. XML Financial LLC now owns 561,075 shares of the investment management company’s stock worth $11,087,000 after acquiring an additional 144,035 shares in the last quarter.

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.