RNP is an equity reit and preferred stock fud. As of 9/30 it was 54% preferred. These stocks have been hammeresd and on top of that they can be bought at a 13% discount. Real estate has been hammered even though rents continue to be paid and are esculating. Of coursr there are risks. Thats why you get a 13% cash dividend. This is a very negative time for real estste. It will change someday. Logically, I have more money to be invested over the next 10 years than I have in the market now. Logically I should be happy if this stock takes a long time to move, continues to pay the dividend and one day goes back to being overpriced when people fall in love with real estate again. This will happen and I am happy it won't happen too quickly.
.....I am fully vested in RNP now and started picking up NRO on the 31st. NRI will be merged into NRO in February, is trading at a discount to NAV. Real Estate is in a negative position now but saw a analyst(broker) awhile ago on Nightly Business Report indicate to start over weighting in financials as in next two years we will be well rewarded! Hope he is correct!