The Cohen & Steers REIT and Preferred Income Fund (NYSE: RNP) is a closed-end management investment company that seeks to provide high current income and total return through a diversified portfolio of real estate investment trusts (REITs) and preferred securities. Managed by Cohen & Steers, a firm renowned for its real estate and income-oriented investing, the fund pursues opportunities across both equity and debt instruments within the global real estate sector. Its core objective is to generate attractive yields by blending equity REIT holdings with preferred shares issued by real estate and related companies.
The fund’s portfolio is broadly diversified by property type, geography and credit quality. It typically allocates capital to U.S. equity REITs spanning office, industrial, retail, residential, lodging and healthcare sectors, alongside mortgage REITs. Complementing these allocations are preferred securities issued by U.S. and non-U.S. real estate companies, which aim to enhance income potential while moderating volatility. The investment team employs rigorous, bottom-up fundamental research to identify issuers with strong balance sheets, stable cash flows and compelling yield profiles.
Cohen & Steers, the fund’s advisor, has been a pioneer in real estate securities investing since its founding in 1986. Over more than three decades, the firm has established a global presence across North America, Europe and Asia, introducing innovative solutions in REIT and preferred income strategies. The REIT and Preferred Income Fund draws on the advisor’s deep sector expertise, leveraging its proprietary research, dedicated real estate analysts and long-standing relationships with industry stakeholders to uncover both value and growth opportunities.
Governed by a board of directors and guided by a team of seasoned portfolio managers, the fund benefits from Cohen & Steers’ risk management framework and commitment to client-focused governance. The investment leadership integrates macroeconomic insights and real estate cycle analysis to navigate market fluctuations and target durable income streams. As part of a comprehensive suite of real estate and income products, the Cohen & Steers REIT and Preferred Income Fund aims to serve yield-seeking investors looking for diversified exposure to the real estate asset class.
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