Cohen & Steers REIT and Preferred and Income Fund, Inc. (RNP) Notification of Sources of Distribution Under Section 19(a)

Rhea-AI Summary

Cohen & Steers REIT and Preferred and Income Fund (NYSE: RNP) provided its estimated sources for the distribution to be paid on December 31, 2025 and cumulative distributions for fiscal 2025. The current distribution is estimated at $0.1360 per share (98.46% from net investment income; 1.54% return of capital).

Year-to-date through Dec 31, 2025, cumulative distributions are $1.6320 per share (69.33% net investment income; 30.67% return of capital). The Fund reports a year-to-date NAV total return of 7.79% and a cumulative distribution rate of 7.71% for Jan 1–Nov 30, 2025.

Amounts are estimates, may change for tax reporting, and final tax characterizations will appear on Form 1099-DIV.

Positive

• Current distribution of $0.1360 per share
• Net investment income funds 98.46% of December distribution
• Year-to-date cumulative distributions of $1.6320 per share

Negative

• Return of capital comprises 30.67% of 2025 distributions YTD
• Fund estimates it distributed more than its income, reducing shareholder tax basis
• Distribution source amounts are estimates and may change for tax reporting

Key Figures

Dec 2025 distribution $0.1360 per share Total current distribution for December 2025

Dec net investment income $0.1339 per share (98.46%) Portion of December 2025 distribution from net investment income

Dec return of capital $0.0021 per share (1.54%) Portion of December 2025 distribution treated as return of capital

2025 YTD distributions $1.6320 per share Cumulative distributions per share through Dec 31, 2025

YTD net investment income $1.1314 per share (69.33%) YTD 2025 distributions from net investment income

YTD return of capital $0.5006 per share (30.67%) YTD 2025 distributions treated as return of capital

YTD total return 7.79 % Year-to-date cumulative total NAV return Jan 1–Nov 30, 2025

Five-year avg total return 6.80 % Average annual total NAV return, five years ending Nov 30, 2025

Market Reality Check

$62.34 Last Close

Volume Volume 195,483 is below the 20-day average of 535,732, suggesting limited trading interest ahead of this disclosure. low

Technical Shares trade below the 200-day MA of 72.89, indicating a weaker longer-term trend before this notice.

Peers on Argus

CNS slipped -0.29% with several asset-management peers also down modestly today (e.g., AB -0.48%, APAM -0.67%, FHI -0.43%), consistent with a mild sector softness rather than a stock-specific move from this notice.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 08	AUM update	Positive	+1.3%	Preliminary AUM rose to <b>$91.9B</b> with market appreciation offsetting net outflows.
Dec 08	Workplace award	Positive	-3.5%	Recognition as a Best Place to Work in Money Management for sixth year.
Nov 26	RFI distribution notice	Neutral	-0.8%	Section 19(a) breakdown showing most of RFI’s payout as return of capital.
Nov 26	FOF distribution notice	Neutral	-0.8%	Section 19(a) notice with distribution fully from long‑term capital gains and NAV data.
Nov 26	RNP distribution notice	Neutral	-0.8%	Prior RNP notice detailing mix of net investment income and return of capital and NAV returns.

Pattern Detected

Recent Cohen & Steers fund-related and AUM updates have generally produced modest single-day moves, with no clear pattern of strong reactions to routine distribution or performance disclosures.

Recent Company History

Over the last few months, Cohen & Steers has mainly reported operational and fund-related updates. In November 2025, multiple closed-end funds, including RNP, RFI and FOF, issued Section 19(a) distribution source notices with detailed NAV total return and distribution rate metrics. In December 2025, CNS disclosed $91.9 billion in preliminary AUM and received workplace recognition. Today’s RNP notice adds updated distribution composition and performance data to that ongoing fund reporting cadence.

Market Pulse Summary

This announcement details RNP’s December 2025 distribution of $0.1360 per share and year‑to‑date payouts of $1.6320, largely funded by net investment income, plus a smaller return‑of‑capital component. It also highlights a NAV total return of 7.79% year‑to‑date versus a cumulative distribution rate of 7.71%. Investors may focus on how the managed distribution policy, return‑of‑capital mix, and five‑year 6.80% average annual total return interact over time.

Key Terms

return of capital financial

"Return of capital includes distributions paid by the Fund in excess of its net investment income..."

Return of capital is when an investor receives money from their investment that is not considered profit or earnings but rather a portion of the original amount they invested. It’s similar to getting back part of your initial savings rather than gains from it. This matters because it can affect how much money an investor still has in the investment and may have tax implications.

real estate investment trusts (REITs) financial

"distributions from the Fund's investments in real estate investment trusts (REITs) may later be characterized..."

Real estate investment trusts (REITs) are companies that own, operate or finance income-producing real estate—like apartment buildings, offices, shopping centers or warehouses—and make most of their rental income available to shareholders as dividends. For investors, REITs offer a way to get regular income and property exposure without buying buildings directly, similar to owning slices of many rental properties, and they can provide diversification but remain sensitive to interest rates and property market conditions.

net asset value financial

"The Fund's NAV is calculated as the total market value of all the securities and other assets..."

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

Form 1099-DIV regulatory

"Final tax characteristics ... will be provided on Form 1099-DIV, which is mailed..."

Form 1099-DIV is a U.S. tax document brokers, mutual funds and other financial institutions send to investors showing dividends and other distributions paid during the year. Investors use it like an annual receipt to report taxable income — including regular dividends, dividends that may qualify for lower tax rates, and capital gains distributions — so it directly affects tax liability and helps reconcile brokerage records with a tax return.

distribution rate financial

"Cumulative Distribution Rate for the Fund's current fiscal period..."

Distribution rate is the percentage that shows how much income an investment pays out to holders over a year, usually expressed relative to the fund’s share price or net asset value. It tells investors the income they can expect—similar to the interest rate on a savings account—and helps gauge whether a security is delivering steady cash flow or relying on capital to pay distributions, which can signal higher risk.

managed distribution policy financial

"In December 2017, the Fund implemented a managed distribution policy in accordance with exemptive relief..."

A managed distribution policy is a company’s plan to pay regular cash to shareholders at a set rate by combining income, dividends and occasional return of capital. Think of it as a scheduled withdrawal from a household account: it can provide steady income for investors, but part of the payment may come from savings rather than ongoing earnings, so investors should watch how those payments are funded and whether they are sustainable over time.

total return financial

"Year-to-date Cumulative Total Return for fiscal year 2025..."

Total return measures how much an investment grows over a period by combining changes in its market price with any income it pays (like dividends or interest), usually shown as a percentage. It matters to investors because it gives a complete picture of performance—similar to looking at your paycheck plus any year-end bonus rather than just the hourly wage—so you can compare investments more fairly and judge real wealth change.

exemptive relief regulatory

"managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission."

Exemptive relief is a formal permission from a financial regulator that allows a company or fund to be temporarily or permanently excused from following a specific rule or requirement. It matters to investors because it can change how a business operates, affect the timing and cost of transactions, and alter regulatory risk—think of it like a temporary permit that lets a shop operate under different rules while still staying legal.

AI-generated analysis. Not financial advice.

NEW YORK, Dec. 18, 2025 /PRNewswire/ -- This press release provides shareholders of Cohen & Steers REIT and Preferred and Income Fund, Inc. (NYSE: RNP) (the "Fund") with information regarding the sources of the distribution to be paid on December 31, 2025 and cumulative distributions paid fiscal year-to-date.

In December 2017, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund's long-term total return potential through regular monthly distributions declared at a fixed rate per common share. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund's shares.

The Fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund. In addition, distributions from the Fund's investments in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to the Fund after year-end by REITs held by the Fund. The amount of monthly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.

At the time of each monthly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year-to-date from the sources indicated. All amounts are expressed per common share.

DISTRIBUTION ESTIMATES	December 2025		YEAR-TO-DATE (YTD) December 31, 2025*
Source	Per Share Amount	% of Current Distribution	Per Share Amount	% of 2025 Distributions
Net Investment Income	$0.1339	98.46 %	$1.1314	69.33 %
Net Realized Short-Term Capital Gains	$0.0000	0.00 %	$0.0000	0.00 %
Net Realized Long-Term Capital Gains	$0.0000	0.00 %	$0.0000	0.00 %
Return of Capital (or other Capital Source)	$0.0021	1.54 %	$0.5006	30.67 %
Total Current Distribution	$0.1360	100.00 %	$1.6320	100.00 %

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution policy. The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments.

*THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES

The Fund's Year-to-date Cumulative Total Return for fiscal year 2025 (January 1, 2025 through November 30, 2025) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for 2025. In addition, the Fund's Average Annual Total Return for the five-year period ending November 30, 2025 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2025. The performance and distribution rate information disclosed in the table is based on the Fund's net asset value per share (NAV). The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's individual investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market.

Fund Performance and Distribution Rate Information:

Year-to-date January 1, 2025 to November 30, 2025
Year-to-date Cumulative Total Return1	7.79 %
Cumulative Distribution Rate2	7.71 %
Five-year period ending November 30, 2025
Average Annual Total Return3	6.80 %
Current Annualized Distribution Rate4	7.71 %

1.	Year-to-date Cumulative Total Return is the percentage change in the Fund's NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.
2.	Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2025 through December 31, 2025) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of November 30, 2025.
3.	Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending November 30, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.
4.	The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of November 30, 2025.

Investors should consider the investment objectives, risks, charges and expense of the Fund carefully before investing. You can obtain the Fund's most recent periodic reports, when available, and other regulatory filings by contacting your financial advisor or visiting cohenandsteers.com. These reports and other filings can be found on the Securities and Exchange Commission's EDGAR Database. You should read these reports and other filings carefully before investing.

Shareholders should not use the information provided here in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Website: https://www.cohenandsteers.com/
Symbol: (NYSE: CNS)

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SOURCE Cohen & Steers, Inc.

FAQ

What is Cohen & Steers REIT and Preferred and Income Fund's (RNP) distribution on December 31, 2025?

The Fund estimates a $0.1360 per share distribution to be paid on December 31, 2025.

How much of RNP's December 2025 distribution is return of capital?

Approximately 1.54% of the December distribution is estimated as return of capital; year-to-date return of capital is 30.67%.

What are RNP's year-to-date cumulative distributions for 2025 per share?

Year-to-date cumulative distributions through Dec 31, 2025 are estimated at $1.6320 per share.

How does RNP's year-to-date NAV total return compare to its distribution rate for 2025?

Year-to-date NAV total return is 7.79% versus a cumulative distribution rate of 7.71% for Jan 1–Nov 30, 2025.

Will the tax character of RNP's distributions change after year-end?

Yes. The amounts are estimates and the final tax characterizations will be reported on Form 1099-DIV after year-end.