NAV at September 30, 2013 was 18.63. Price as of November 6, 2013 (when update was supplied from Cohen and Steers) is $16.28.
Discount is a substantial 12.6%. Primarily on this basis I continue to hold my RNP.
Negatives are the 1.63% annual expense ratio and the impending rise in interest rates which will likely pressure the securities making on the holdings of RNP. It should be noted that despite the name "preferred" there are not very many assets actually in preferred shares. Mainly this is just a REIT fund with a smattering of preferreds and bonds.