Cohen & Steers REIT and Preferred Income Fund (NYSE:RNP) Shares Pass Above 200 Day Moving Average – Time to Sell?

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $20.56 and traded as high as $20.69. Cohen & Steers REIT and Preferred Income Fund shares last traded at $20.6770, with a volume of 98,548 shares traded.

Cohen & Steers REIT and Preferred Income Fund Price Performance

The business’s 50 day moving average is $20.68 and its two-hundred day moving average is $20.56.

Cohen & Steers REIT and Preferred Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders 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) dividend on an annualized basis and a dividend yield of 7.9%.

Institutional Trading of Cohen & Steers REIT and Preferred Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Heritage Wealth Advisors purchased a new position in Cohen & Steers REIT and Preferred Income Fund in the fourth quarter worth $35,000. Murphy Middleton Hinkle & Parker Inc. purchased a new stake in Cohen & Steers REIT and Preferred Income Fund during the fourth quarter valued at about $59,000. US Bancorp DE lifted its stake in Cohen & Steers REIT and Preferred Income Fund by 182.1% during 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 during the last quarter. Triumph Capital Management purchased a new position in shares of Cohen & Steers REIT and Preferred Income Fund in the 3rd quarter worth about $109,000. Finally, Cornerstone Wealth Management LLC boosted its holdings 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 worth $212,000 after purchasing an additional 1,347 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.