Welcome to our dedicated page for Cohen & Steers Real Estate Opportunities and Income Fund news (Ticker: RLTY), a resource for investors and traders seeking the latest updates and insights on Cohen & Steers Real Estate Opportunities and Income Fund stock.
Cohen & Steers Real Estate Opportunities and Income Fund (NYSE: RLTY) is a non-diversified, closed-end management investment company. The Fund's primary objective is to generate high current income, with a secondary goal of capital appreciation. As part of its investment strategy, the Fund focuses on real estate-related assets, providing a steady income stream to its shareholders.
Founded in 1986, Cohen & Steers is a renowned global investment manager specializing in real assets and alternative income. The firm’s portfolio includes real estate, preferred securities, infrastructure, resource equities, and commodities. With headquarters in New York City and offices in key financial hubs including London, Dublin, Hong Kong, Tokyo, and Singapore, Cohen & Steers has established a significant presence in the global investment market.
One of the Fund's recent initiatives is its share repurchase program, announced on September 6, 2023. This program authorizes the repurchase of up to 10% of the Fund's outstanding common shares within a calendar year. The objective is to benefit shareholders by acquiring shares at a favorable discount and potentially reducing the discount to net asset value (NAV) at which the Fund's shares currently trade.
The Fund's management plans to prudently handle leverage levels in conjunction with the repurchase activity. While repurchases are at the discretion of the Fund's management, there is no assurance that such actions will effectively reduce the Fund's discount to NAV. Nonetheless, all repurchase activity will be transparently disclosed in the Fund's annual and semi-annual reports to shareholders, as well as in monthly press releases, as applicable.
The Fund’s diversified approach within the real estate sector, combined with a disciplined management strategy, aims to achieve its dual objectives of income generation and capital appreciation, thus providing substantial value to its investors.
The Cohen & Steers Real Estate Opportunities and Income Fund (RLTY) declared its first monthly distribution of $0.104 per share for April 2022, reflecting an annualized distribution rate of 6.24% based on the $20.00 IPO price. Additional distributions for May and June 2022 were also announced. The Fund will trade under the ticker RLTY since its launch on February 24, 2022. Distributions may vary based on portfolio performance and market conditions, and further details will be disclosed monthly at cohenandsteers.com.
Cohen & Steers announced the initial public offering of the Cohen & Steers Real Estate Opportunities and Income Fund, raising approximately $305 million by offering 15,250,000 common shares at $20 each. The offering includes an option for underwriters to purchase an additional 2,287,500 shares, potentially increasing proceeds to $350.75 million. The Fund aims for high current income and capital appreciation, investing at least 80% of managed assets in real estate-related investments. Shares began trading on February 24, 2022 under the symbol RLTY.
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