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Cohen & Steers Reit and Preferr Message Board

  • mysonchino mysonchino Dec 21, 2007 12:30 PM Flag

    Money Machine

    I have owned RNP RLF RPF and RQI for a number of years. I sold them last January because I thought they were too high and just bought back in last week. I know it sounds like I caught the market but I put the money in Commercial mortgage Reits and in retrospect would have been juast as well off staying in the cohen and steers funds. Anyway, my point is that these funds are a money mahine if you can reinvest dividends and capital gains. They increase the dividend in April and have declared capital gains every year. As soon as they go x dividend in December they always have a nice pop back toward their pre x level. RNP is priced especially attractive now as the portfolio is 54% preferreds as of Sept 30 and selling at over a 12.5% discount. Monthly dividends and they are 75% covered by investment income. Rents keep rising and the dividend does too. It is unusual to be able to buy this fund when the div exceeds the hitorical return of 11%. Good luck and sleep well with this one.

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