Cohen & Steers Total Return Realty Fund, Inc. (RFI) Notification of Sources of Distribution Under Section 19(a)
Rhea-AI Summary
Cohen & Steers Total Return Realty Fund (NYSE: CNS) announced estimated sources for the distribution to be paid on February 27, 2026. The current monthly distribution is $0.0800 per share, composed of $0.0090 net investment income (11.25%) and $0.0710 return of capital (88.75%). Year-to-date distributions total $0.1600 per share with 90.62% as return of capital.
The Fund reiterated its managed distribution policy and cautioned that these are estimates; final tax characterizations will be reported on Form 1099-DIV after year-end. Performance metrics: YTD cumulative NAV total return 2.08%, five-year average annual NAV total return 5.80%, and current annualized distribution rate 8.54%.
Positive
- Monthly distribution of $0.0800 per share
- YTD distributions total $0.1600 per share
- Current annualized distribution rate of 8.54%
Negative
- Return of capital is 88.75% of the current distribution
- Return of capital YTD comprises 90.62% of 2026 distributions
- Net investment income is a small portion: $0.0090 (11.25%)
Key Figures
Market Reality Check
Peers on Argus
CNS was down 0.7% while key peers were mixed: AB (+0.35%), APAM (+0.22%), FHI (+0.60%), HTGC (+1.78%), and DNP (-0.56%). The mixed peer moves and lack of scanner momentum suggest this notice is stock-specific rather than part of a broad sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 09 | AUM and flows update | Positive | +2.5% | Reported higher AUM driven by market appreciation and net inflows. |
| Jan 27 | Distribution source notice | Positive | -1.8% | FOF detailed distributions fully from long-term capital gains with strong returns. |
| Jan 27 | Distribution source notice | Positive | -1.8% | UTF disclosed January distribution mix and solid NAV-based performance metrics. |
| Jan 27 | Distribution source notice | Positive | -1.8% | RNP outlined NII and return of capital split with steady long-term returns. |
| Jan 27 | Distribution source notice | Positive | -1.8% | RQI reported capital-gain-funded distributions and favorable return history. |
Recent Cohen & Steers fund-related notices often saw modest negative price reactions, even when underlying fund performance metrics were stable to positive.
Over the last few months, Cohen & Steers has regularly reported fund-level metrics and distribution source notices across its closed‑end products. Updates on assets under management showed AUM rising to $93.1 billion with positive market appreciation and net inflows. Multiple Section 19(a) notices for FOF, UTF, RNP, and RQI detailed mixes of net investment income, capital gains, and return of capital, alongside generally solid five‑year average annual total returns in the mid‑single to high‑single digits. Today’s RFI notice continues this pattern of transparent distribution source reporting and NAV‑based performance disclosure.
Market Pulse Summary
This announcement details Cohen & Steers Total Return Realty Fund’s February distribution composition and recent NAV-based performance. The $0.0800 per‑share payout is estimated at $0.0090 net investment income and $0.0710 return of capital, with 2026 year‑to‑date distributions of $0.1600 per share. The fund reports a 2.08% year‑to‑date cumulative total return, a 5.80% five‑year average annual total return, and an 8.54% current annualized distribution rate, emphasizing that final tax treatment will be reported on Form 1099‑DIV.
Key Terms
managed distribution policy financial
return of capital financial
net asset value financial
real estate investment trusts (REITs) financial
Form 1099-DIV regulatory
EDGAR regulatory
AI-generated analysis. Not financial advice.
In December 2011, 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 | February 2026 | YEAR-TO-DATE (YTD) February 28, 2026* | ||
Source | Per Share Amount | % of Current Distribution | Per Share Amount | % of 2026 Distributions |
Net Investment Income | 11.25 % | 9.38 % | ||
Net Realized Short-Term Capital Gains | 0.00 % | 0.00 % | ||
Net Realized Long-Term Capital Gains | 0.00 % | 0.00 % | ||
Return of Capital (or other Capital Source) | 88.75 % | 90.62 % | ||
Total Current Distribution | 100.00 % | 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 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 2026 (January 1, 2026 through January 31, 2026) 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 2026. In addition, the Fund's Average Annual Total Return for the five-year period ending January 31, 2026 is set forth below. Shareholders should note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2026. 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, 2026 to January 31, 2026 | |
Year-to-date Cumulative Total Return1 | 2.08 % |
Cumulative Distribution Rate2 | 1.42 % |
Five-year period ending January 31, 2026 | |
Average Annual Total Return3 | 5.80 % |
Current Annualized Distribution Rate4 | 8.54 % |
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, 2026 through February 28, 2026) measured on the dollar value of distributions in the year-to-date period as a percentage of the Fund's NAV as of January 31, 2026. |
3. | Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ending January 31, 2026. 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 January 31, 2026. |
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
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)
View original content:https://www.prnewswire.com/news-releases/cohen--steers-total-return-realty-fund-inc-rfi-notification-of-sources-of-distribution-under-section-19a-302699115.html
SOURCE Cohen & Steers
FAQ
What is the per-share distribution Cohen & Steers Total Return Realty Fund (CNS) will pay on February 27, 2026?
Why is a large portion of the CNS February 2026 distribution classified as return of capital?
How much has Cohen & Steers Total Return Realty Fund (CNS) paid year-to-date in 2026 per share?
What are the Fund's recent performance and distribution rate metrics for CNS?
How will CNS report the final tax character of 2026 distributions to shareholders?
