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) 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 Stock Performance

The firm’s 50 day moving average is $20.59 and its 200-day moving average is $20.55.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

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

Institutional Trading of Cohen & Steers REIT and Preferred Income Fund

Hedge funds have recently made changes to their positions in the company. Heritage Wealth Advisors purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter valued at approximately $35,000. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the 4th quarter valued at approximately $59,000. US Bancorp DE grew its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 182.1% in the 3rd quarter. US Bancorp DE now owns 3,557 shares of the investment management company’s stock valued at $80,000 after buying an additional 2,296 shares during the period. Triumph Capital Management purchased a new stake in shares of Cohen & Steers REIT and Preferred Income Fund in the 3rd quarter valued at approximately $109,000. Finally, Cornerstone Wealth Management LLC grew its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 14.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 10,693 shares of the investment management company’s stock valued at $212,000 after buying an additional 1,347 shares during the period.

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.