Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) Stock Short Interest Rises 135.5%

Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) saw a large growth in short interest in September. As of September 15th, there was short interest totaling 48,880 shares, a growth of 135.5% from the August 31st total of 20,754 shares. Based on an average daily trading volume, of 117,956 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Cohen & Steers REIT and Preferred Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XML Financial LLC increased its position in 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 purchasing an additional 144,035 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Cohen & Steers REIT and Preferred Income Fund in the second quarter valued at approximately $2,921,000. Landscape Capital Management L.L.C. acquired a new stake in Cohen & Steers REIT and Preferred Income Fund in the second quarter valued at approximately $2,761,000. Bank of America Corp DE grew its stake in shares of Cohen & Steers REIT and Preferred Income Fund by 9.4% during 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 buying an additional 51,660 shares during the last quarter. Finally, Independent Financial Group LLC bought a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the first quarter worth $757,000.

Cohen & Steers REIT and Preferred Income Fund Price Performance

Shares of RNP stock traded down $0.07 on Friday, hitting $18.93. 123,987 shares of the company’s stock were exchanged, compared to its average volume of 120,752. The company has a 50 day moving average of $20.16 and a 200 day moving average of $20.43. Cohen & Steers REIT and Preferred Income Fund has a 12 month low of $18.88 and a 12 month high of $22.58.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 8th will be issued a $0.1360 dividend. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 8.6%.

Cohen & Steers REIT and Preferred Income Fund Company Profile

Cohen & Steers REIT and Preferred Income Fund, Inc (NYSE: RNP) is a closed-end investment company managed by Cohen & Steers Capital Management. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

RNP invests primarily in real estate investment trusts (REITs) and preferred securities. Its portfolio may include common and preferred securities issued by companies involved in commercial, residential, health care, industrial, retail, and other areas of the real estate industry, along with preferred stocks and other income-producing securities.

The fund was established in 2003 and is designed to provide investors with diversified exposure to real estate and preferred-income markets through a professionally managed portfolio.