Short Interest in Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) Drops By 92.2%

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 2,242 shares, a drop of 92.2% from the May 31st total of 28,636 shares. Based on an average trading volume of 169,180 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Heritage Wealth Advisors bought a new stake in Cohen & Steers REIT and Preferred Income Fund during the 4th quarter worth approximately $35,000. Murphy Middleton Hinkle & Parker Inc. acquired a new position in Cohen & Steers REIT and Preferred Income Fund in the fourth quarter worth $59,000. US Bancorp DE boosted its stake in Cohen & Steers REIT and Preferred Income Fund by 182.1% in the third quarter. US Bancorp DE now owns 3,557 shares of the investment management company’s stock worth $80,000 after purchasing an additional 2,296 shares in the last quarter. Triumph Capital Management bought a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the third quarter worth $109,000. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of Cohen & Steers REIT and Preferred Income Fund by 14.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 10,693 shares of the investment management company’s stock worth $212,000 after purchasing an additional 1,347 shares during the last quarter.

Cohen & Steers REIT and Preferred Income Fund Price Performance

Shares of Cohen & Steers REIT and Preferred Income Fund stock traded up $0.23 during midday trading on Friday, hitting $20.44. 63,677 shares of the company were exchanged, compared to its average volume of 128,247. The firm has a 50 day simple moving average of $20.72 and a 200-day simple moving average of $20.52. Cohen & Steers REIT and Preferred Income Fund has a 52 week low of $19.27 and a 52 week high of $22.99.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 8th will be given a $0.136 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 8.0%.

Cohen & Steers REIT and Preferred Income Fund Company Profile

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.