NEW YORK, Sept. 6, 2023 /PRNewswire/ -- Cohen & Steers Real Estate Opportunities and Income Fund (NYSE: RLTY; the "Fund") announced today that it may begin repurchasing shares under the Fund's share repurchase program, which authorizes the repurchase of up to 10% of the Fund's outstanding common shares during a calendar year.
Cohen & Steers believes that the stock repurchase program will benefit shareholders as it enables the Fund to acquire its own shares at a favorable discount. In addition, the share repurchase program may benefit existing shareholders by reducing the discount to net asset value ("NAV") at which the Fund's shares are currently trading. The Fund's portfolio managers intend to prudently manage the leverage levels of the Fund in concert with this activity.
Repurchases are at the Fund management's discretion and no assurance can be made that the Fund will repurchase any shares or that any such repurchases will reduce the Fund's discount to NAV. The Fund's discount will be a determining factor in any decision on future buybacks.
The Fund's repurchase activity will be disclosed in the Fund's annual and semi-annual reports to shareholders, as well as monthly press releases, as applicable.
About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including 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.
Website: https://www.cohenandsteers.com
Symbols: NYSE: CNS, RLTY
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.
View original content:https://www.prnewswire.com/news-releases/cohen--steers-real-estate-opportunities-and-income-fund-rlty-announces-share-repurchase-program-301919752.html
SOURCE Cohen & Steers, Inc.
