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.