Modern Wealth Management LLC Invests $301,000 in Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP)

Modern Wealth Management LLC acquired a new stake in shares of Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 13,720 shares of the investment management company’s stock, valued at approximately $301,000.

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC increased its position in Cohen & Steers REIT and Preferred Income Fund by 37.9% in the 3rd quarter. HighTower Advisors LLC now owns 21,406 shares of the investment management company’s stock worth $507,000 after buying an additional 5,883 shares during the period. Stifel Financial Corp acquired a new position in Cohen & Steers REIT and Preferred Income Fund during the third quarter worth $271,000. Steward Partners Investment Advisory LLC lifted its holdings in Cohen & Steers REIT and Preferred Income Fund by 41.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,869 shares of the investment management company’s stock valued at $624,000 after purchasing an additional 8,733 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Cohen & Steers REIT and Preferred Income Fund during the fourth quarter worth approximately $7,761,000. Finally, D.A. Davidson & CO. raised its position in Cohen & Steers REIT and Preferred Income Fund by 12.3% in the 4th quarter. D.A. Davidson & CO. now owns 10,254 shares of the investment management company’s stock valued at $214,000 after purchasing an additional 1,125 shares during the last quarter.

Cohen & Steers REIT and Preferred Income Fund Price Performance

Shares of NYSE:RNP opened at $21.81 on Friday. Cohen & Steers REIT and Preferred Income Fund, Inc. has a 12 month low of $18.77 and a 12 month high of $24.41. The company’s 50-day moving average price is $21.74 and its two-hundred day moving average price is $22.27.

Cohen & Steers REIT and Preferred Income Fund Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued a dividend of $0.136 per share. This is an increase from Cohen & Steers REIT and Preferred Income Fund’s previous dividend of $0.12. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a yield of 8.01%.

About Cohen & Steers REIT and Preferred Income Fund

Cohen & Steers REIT and Preferred Income Fund, Inc is a closed-ended balanced mutual fund launched by Cohen & Steers Inc It is managed by Cohen & Steers Capital Management, Inc The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in the stocks of companies operating in the real estate sector including real estate investment trusts.