Independent Financial Group LLC Acquires Shares of 38,334 Cohen & Steers REIT and Preferred Income Fund, Inc. $RNP

Independent Financial Group LLC acquired a new stake in shares of Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 38,334 shares of the investment management company’s stock, valued at approximately $757,000.

Several other hedge funds have also recently modified their holdings of the stock. Cornerstone Wealth Management LLC lifted its holdings in shares of Cohen & Steers REIT and Preferred Income Fund by 14.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 10,693 shares of the investment management company’s stock worth $212,000 after buying an additional 1,347 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Cohen & Steers REIT and Preferred Income Fund by 9.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,468 shares of the investment management company’s stock valued at $327,000 after acquiring an additional 1,356 shares in the last quarter. Heritage Wealth Advisors bought a new stake in Cohen & Steers REIT and Preferred Income Fund in the 4th quarter valued at $35,000. Wealth Enhancement Advisory Services LLC increased its holdings in Cohen & Steers REIT and Preferred Income Fund by 9.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 20,716 shares of the investment management company’s stock valued at $419,000 after acquiring an additional 1,850 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Cohen & Steers REIT and Preferred Income Fund by 12.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 16,371 shares of the investment management company’s stock worth $368,000 after purchasing an additional 1,852 shares in the last quarter.

Cohen & Steers REIT and Preferred Income Fund Price Performance

RNP opened at $20.59 on Wednesday. The firm has a 50-day simple moving average of $20.59 and a two-hundred day simple moving average of $20.64. Cohen & Steers REIT and Preferred Income Fund, Inc. has a 52 week low of $19.27 and a 52 week high of $22.78.

Cohen & Steers REIT and Preferred Income Fund Announces Dividend

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 given a $0.136 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Tuesday, September 8th.

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.