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Cohen & Steers Reit and Preferr Message Board

  • Stock_Aficionado Stock_Aficionado Dec 19, 2007 8:10 AM Flag

    Adding insult to injury...

    ...the Preferreds are starting to underperform, though across the board (not just REITs). I expect the pain to continue into January. Sorry, the Fed is just way behind the curve. I continue to nibble at RNP regardless. Commercial real estate will contract near term, but not anything like the scale seen in the residential markets.

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    • This fund is 40% off its high. The dividend is 75% covered with net income. Capital fains if reinvested provide for double digit income growth. I had a portfolio of preferreds the were getting hit hard so I sold them and bought RNP at an 11% discount to nav. It's 54% preferreds. Holding bricks, sticks and preferreds is a safe bet to get your dividend. At a 13.3% payout rate this is an exceptional bargin and will be much higher in a year and then we will wish we bought more at these prices.

19.56+0.03(+0.15%)Oct 21 4:00 PMEDT