WELL - RNP: Consistent 8% Income Yield And Potentially Market Matching Returns

2024-02-04 09:30:00 ET

Summary

• Cohen & Steers REIT & Preferred Income Fund is a closed-end fund that primarily invests in the equity of real-estate companies and preferred and fixed-income securities.
• RNP has a solid long-term record of performance. However, the recent performance has been sub-par and in alignment with the real estate sector and preferred securities.
• We believe it is an excellent fund for income investors that is highly diversified and has proven to provide sustainable income in good times and bad.

Introduction

Cohen & Steers REIT & Preferred Income Fund ( RNP ) is a closed-end fund incepted in Jun. 2003. The fund has a pretty successful record of 21 years. The fund is a hybrid fund and primarily invests in the equity of Real-estate companies, including the REITs (Real Estate Investment Trusts) and diversified preferred and fixed-income securities. Currently, the fund is invested roughly 48% in common equity and 52% in preferred and fixed-income securities. The majority of investments are in U.S. companies, but the fund also invests globally, especially in Canada, the U.K., European countries, Australia, and Japan....

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