Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) Sees Significant Growth in Short Interest

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 20,754 shares, an increase of 121.3% from the August 15th total of 9,379 shares. Based on an average daily volume of 110,270 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. XML Financial LLC raised its holdings in shares of Cohen & Steers REIT and Preferred Income Fund by 34.5% in the 1st quarter. XML Financial LLC now owns 561,075 shares of the investment management company’s stock valued at $11,087,000 after purchasing an additional 144,035 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Cohen & Steers REIT and Preferred Income Fund by 9.4% during the 1st quarter. Bank of America Corp DE now owns 600,823 shares of the investment management company’s stock worth $11,872,000 after purchasing an additional 51,660 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Cohen & Steers REIT and Preferred Income Fund during the second quarter worth $2,761,000. Independent Financial Group LLC acquired a new position in shares of Cohen & Steers REIT and Preferred Income Fund during the first quarter worth $757,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Cohen & Steers REIT and Preferred Income Fund by 809.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 137,222 shares of the investment management company’s stock valued at $2,725,000 after buying an additional 122,129 shares during the last quarter.

Cohen & Steers REIT and Preferred Income Fund Price Performance

RNP stock traded down $0.13 during mid-day trading on Monday, reaching $19.54. The company had a trading volume of 48,471 shares, compared to its average volume of 120,035. The firm has a fifty day simple moving average of $20.41 and a 200 day simple moving average of $20.59. Cohen & Steers REIT and Preferred Income Fund has a fifty-two week low of $19.27 and a fifty-two week high of $22.58.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 8th will be issued a $0.136 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a c) annualized dividend and a yield of 8.4%.

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.