RNP: Lower Yield And Higher For Longer Make This A Hold Now (Rating Downgrade) [Seeking Alpha]
Cohen & Steers REIT and Preferred and Income Fund, Inc. Common Shares (RNP)
US:NYSE Investor Relations:
en.wikipedia.org/wiki/cohen_(surname)
Company Research
Source: Seeking Alpha
Because of the recent share price run-up and strengthening case of higher for longer, going long RNP has become less attractive. In this article I elaborate on the details why I think that now is the right time to deemphasize this REIT. In November, 2023, I issued a very bullish thesis on Cohen & Steers REIT & Preferred Income Fund ( NYSE: RNP ). The underlying motivation behind going long RNP was really based on the combination of inherent fundamentals and the expectation of SOFR finally normalizing. Just to synthesize once again the most critical fundamental elements of the Fund: Exposure to preferred securities. It depends on the period, but on average RNP carries 50% of its total holdings in preferred shares that are mostly issued by relatively defensive REITs, financial institutions and IG utility and / or energy firms. This fact alone, per definition, provides an extra lever of safety compared to pure-play equity exposure as the preferred dividends rank in higher priori
Show less
Read more
Impact Snapshot
Event Time:
RNP
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
RNP alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
RNP alerts
High impacting Cohen & Steers REIT and Preferred and Income Fund, Inc. Common Shares news events
Weekly update
A roundup of the hottest topics
RNP
Sec Filings
- 3/13/24 - Form N-CEN
- 3/8/24 - Form N-CSR
- 2/28/24 - Form NPORT-P
- RNP's page on the SEC website