UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT COMPANY
Investment Company Act file number: 811-21326
Exact Name of Registrant
(as specified in charter): Cohen & Steers REIT and Preferred Income Fund, Inc.
Address of Principal Executive Office: 757 Third Avenue
New York, NY 10017
Name and address of agent for service: John E. McLean
757 Third Avenue
New York, NY 10017
Registrant telephone number, including area code: (212) 832-3232
Date of fiscal year end: December 31
Date of reporting period: September 30, 2004
Item 1. Schedule of Investments
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS
SEPTEMBER 30, 2004 (UNAUDITED)
NUMBER DIVIDEND
OF SHARES VALUE YIELD(a)
---------- -------------- ------------
COMMON STOCK 84.77%(b)
DIVERSIFIED 7.06%
Capital Trust Class A................ 97,400 $ 2,834,340 6.19%
Colonial Properties Trust............ 300,000 12,066,000 6.66
Crescent Real Estate Equities Co..... 1,490,500 23,460,470 9.53
iStar Financial...................... 990,000 40,817,700 6.77
Vornado Realty Trust................. 239,100 14,986,788 4.53
--------------
94,165,298
--------------
HEALTH CARE 13.04%
Health Care Property Investors....... 2,900,600 75,415,600 6.42
Health Care REIT..................... 1,745,600 61,445,120 6.82
Nationwide Health Properties......... 1,362,200 28,265,650 7.13
Ventas............................... 335,000 8,683,200 5.02
--------------
173,809,570
--------------
HOTEL 2.07%
Hospitality Properties Trust......... 545,200 23,165,548 6.78
Strategic Hotel Capital.............. 323,800 4,377,776 6.51
--------------
27,543,324
--------------
INDUSTRIAL 4.08%
First Industrial Realty Trust........ 1,472,200 54,324,180 7.43
--------------
MORTGAGE 2.36%
Newcastle Investment Corp............ 1,024,274 31,445,212 7.82
--------------
OFFICE 24.35%
Arden Realty......................... 1,488,700 48,501,846 6.20
Brandywine Realty Trust.............. 787,800 22,436,544 6.18
CarrAmerica Realty Corp.............. 942,300 30,813,210 6.12
CRT Properties....................... 290,000 6,220,500 6.53
Equity Office Properties Trust....... 2,943,300 80,204,925 7.34
Highwoods Properties................. 910,200 22,400,022 6.91
HRPT Properties Trust................ 1,228,400 13,500,116 7.64
Mack-Cali Realty Corp................ 1,259,500 55,795,850 5.69
Maguire Properties................... 1,286,100 31,265,091 6.58
Prentiss Properties Trust............ 374,900 13,496,400 6.22
--------------
324,634,504
--------------
-------------------
(a) Dividend yield is computed by dividing the security's current annual
dividend rate by the last sale price on the principal exchange, or market,
on which such security trades.
(b) Percentages indicated are based on the net assets of the fund.
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2
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS -- (CONTINUED)
SEPTEMBER 30, 2004 (UNAUDITED)
NUMBER DIVIDEND
OF SHARES VALUE YIELD
---------- -------------- ------------
OFFICE/INDUSTRIAL 4.31%
Liberty Property Trust............... 1,143,300 $ 45,549,072 6.12%
Mission West Properties.............. 908,900 9,407,115 9.28
Reckson Associates Realty Corp....... 87,500 2,515,625 5.91
--------------
57,471,812
--------------
RESIDENTIAL -- APARTMENT 13.28%
AMLI Residential Properties Trust.... 590,400 18,036,720 6.28
Archstone-Smith Trust................ 2,324,000 73,531,360 5.44
Camden Property Trust................ 581,800 26,879,160 5.50
Gables Residential Trust............. 1,186,100 40,505,315 7.06
Mid-America Apartment Communities.... 349,000 13,593,550 6.01
Town & Country Trust................. 173,400 4,413,030 6.76
--------------
176,959,135
--------------
SELF STORAGE 0.65%
Sovran Self Storage.................. 222,200 8,705,796 6.18
--------------
SHOPPING CENTER 13.57%
COMMUNITY CENTER 8.10%
Cedar Shopping Centers............... 400,000 5,580,000 6.45
Heritage Property Investment Trust... 2,002,300 58,407,091 7.20
New Plan Excel Realty Trust.......... 1,340,500 33,512,500 6.60
Ramco-Gershenson Properties Trust.... 390,000 10,561,200 6.20
--------------
108,060,791
--------------
REGIONAL MALL 5.47%
Glimcher Realty Trust................ 2,121,600 51,554,880 7.90
Macerich Co.......................... 215,200 11,468,008 4.58
Mills Corp........................... 190,200 9,865,674 4.59
--------------
72,888,562
--------------
TOTAL SHOPPING CENTER................ 180,949,353
--------------
TOTAL COMMON STOCK
(Identified cost --
$943,674,848)................ 1,130,008,184
--------------
PREFERRED SECURITIES -- $25
PAR VALUE 26.14%
AGRICULTURAL CHEMICALS 0.20%
Agrium, 8.00% (COPrS)................ 107,600 2,715,824 7.92
--------------
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3
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS -- (CONTINUED)
SEPTEMBER 30, 2004 (UNAUDITED)
NUMBER DIVIDEND
OF SHARES VALUE YIELD
---------- -------------- ------------
AUTOMOTIVE 1.16%
DaimlerChrysler, 7.25% (CBTCS)....... 23,708 $ 600,049 7.15%
DaimlerChrysler, 7.50% (CBTCS)....... 37,300 967,935 7.24
Delphi Trust I, 8.25%, due 10/15/33,
Series A.......................... 456,100 11,785,624 7.97
Ford Motor Co., 8.00% (CORTS)........ 80,000 2,085,600 7.67
--------------
15,439,208
--------------
BANK 2.49%
ASBC Capital I, 7.625%, Series A
(TOPrS)........................... 75,500 2,023,400 7.13
Cobank ACB, 7.00%, 144A(a)........... 200,000 10,315,960 6.79
Colonial Capital Trust IV, 7.875%.... 310,000 8,292,500 7.36
Countrywide Capital IV, 6.75%........ 71,100 1,793,853 6.70
First Republic Bank, 6.70%........... 200,000 5,010,000 6.71
Fleet Capital Trust VII, 7.20%
Series............................ 94,800 2,488,500 6.86
Fleet Capital Trust VIII, 7.20%
Series............................ 87,900 2,314,407 6.84
Old Second Bancorp Capital Trust I,
7.80%............................. 90,000 979,110 7.16
--------------
33,217,730
--------------
BANK -- FOREIGN 1.39%
Abbey National PLC, 7.375%, Series B. 105,700 2,858,128 6.80
Abbey National PLC, 7.375%, Series C. 493,264 13,140,553 6.91
Northern Rock PLC, 8.00%, Series..... 30,000 753,339 7.96
Royal Bank of Scotland Group, 7.25%,
Series H.......................... 69,300 1,750,518 7.17
--------------
18,502,538
--------------
ELECTRIC -- INTEGRATED 1.49%
EIX Trust I, 7.875%, due 7/26/29,
Series............................ 165,900 4,182,339 7.81
Energy East Capital Trust I, 8.25%... 61,000 1,628,090 7.72
Enterprise Capital Trust, 7.44%...... 74,200 1,864,646 7.40
Northern States Power Co., 8.00%,
Notes (PINES)..................... 41,700 1,132,155 7.37
PSEG Funding Trust II, 8.75%
Series............................ 199,900 5,509,244 7.95
Puget Sound Energy Capital Trust II,
8.40% (TOPrS)..................... 95,800 2,542,532 7.91
Southern California Edison, 7.23%,
due 4/30/07, Series M............. 12,300 1,245,375 7.14
Virginia Power Capital Trust II,
7.375%, (TruPS)................... 62,061 1,669,441 6.84
--------------
19,773,822
--------------
-------------------
(a) The fund prices this security at fair value using procedures approved by
the fund's board of directors.
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4
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS -- (CONTINUED)
SEPTEMBER 30, 2004 (UNAUDITED)
NUMBER DIVIDEND
OF SHARES VALUE YIELD
---------- -------------- ------------
FINANCE 0.91%
CREDIT CARD 0.81%
MBNA Capital, 8.125%, Series D
(TruPS)........................... 234,100 $ 6,250,470 7.60%
MBNA Capital, 8.10%, Series E
(TOPrs)........................... 166,300 4,491,763 7.52
--------------
10,742,233
--------------
DIVERSIFIED FINANCIAL SERVICES 0.10%
National Rural Utilities, 7.40%
(QUICS)........................... 48,300 1,283,814 6.96
--------------
TOTAL FINANCE........................ 12,026,047
--------------
GAS -- DISTRIBUTION 3.59%
Dominion CNG Capital, 8.40%.......... 78,700 2,105,225 7.29
Laclede Capital Trust I, 7.70%
(TOPrS)........................... 56,300 1,517,285 7.16
Southern Union Co., 7.55%, Series C.. 1,040,000 28,017,600 7.02
Southwest Gas Capital Trust II,
7.70%............................. 600,000 16,200,000 7.15
--------------
47,840,110
--------------
INSURANCE 2.20%
LIFE/HEALTH INSURANCE 0.21%
Lincoln National Capital V, 7.65%,
Series E (TruPS).................. 63,700 1,688,050 7.21
Torchmark Capital Trust I, 7.75%..... 41,000 1,103,720 7.21
--------------
2,791,770
--------------
MULTI-LINE 0.81%
ING Groep NV, 7.05% Series........... 241,600 6,313,008 6.74
ING Groep NV, 7.20% Series........... 165,700 4,407,620 6.77
--------------
10,720,628
--------------
PROPERTY/CASUALTY 0.99%
ACE Ltd., 7.80%, Series C............ 380,400 10,232,760 7.25
St. Paul Capital Trust I, 7.60%
(TruPS)........................... 115,130 3,003,742 7.27
--------------
13,236,502
--------------
REINSURANCE -- FOREIGN 0.19%
RenaissanceRE Holdings Ltd., 8.10%,
Series A.......................... 30,900 829,974 7.56
RenaissanceRE Holdings Ltd., 7.30%,
Series B.......................... 65,900 1,743,055 6.92
--------------
2,573,029
--------------
TOTAL INSURANCE...................... 29,321,929
--------------
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5
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS -- (CONTINUED)
SEPTEMBER 30, 2004 (UNAUDITED)
NUMBER DIVIDEND
OF SHARES VALUE YIELD
---------- -------------- ------------
MEDIA 2.11%
CABLE TELEVISION 1.28%
Shaw Communications, 8.45%, Series A
(COPrS)........................... 199,092 $ 5,007,164 8.39%
Shaw Communications, 8.50%, Series B
(COPrS)........................... 479,700 12,064,455 8.47
--------------
17,071,619
--------------
DIVERSIFIED SERVICES 0.83%
AOL Time Warner, 7.625%, Series A-1
(CABCO)........................... 109,900 2,900,261 7.24
Liberty Media Corp., 8.75% (CBTCS)... 198,500 5,250,325 8.28
Liberty Media Corp., 8.75% (PPLUS)... 108,745 2,926,328 8.14
--------------
11,076,914
--------------
TOTAL MEDIA.......................... 28,148,533
--------------
MEDICAL -- HMO 0.06%
Aetna, 8.50%, Senior Notes........... 32,000 861,120 7.92
--------------
OIL -- EXPLORATION 1.22%
Nexen, 7.35%, due 11/1/43, Series B.. 608,660 16,306,001 6.87
--------------
REAL ESTATE 7.42%
Apartment Investment and Management
Co., 8.00%, Series T.............. 93,700 2,335,941 8.02
Cousins Properties, 7.75%, Series A.. 457,500 11,798,925 7.52
Developers Diversified Realty Corp.,
8.00%, Series G................... 38,700 1,021,293 7.58
Forest City Enterprises, 7.375%,
Senior Notes...................... 50,000 1,257,000 7.32
Glimcher Realty Trust, 8.75%,
Series F.......................... 280,000 7,417,200 8.27
Glimcher Realty Trust, 8.125%,
Series G.......................... 240,000 6,108,000 7.98
Health Care REIT, 7.875%, Series D... 100,000 2,534,000 7.77
Innkeepers USA Trust, 8.00%,
Series C.......................... 88,000 2,226,400 7.91
iStar Financial, 7.875%, Series E.... 400,000 10,076,000 7.82
iStar Financial, 7.80%, Series F..... 292,400 7,374,328 7.73
iStar Financial, 7.65%, Series G..... 80,000 2,000,000 7.64
Kilroy Realty Corp, 7.80%,
Series E.......................... 100,000 2,589,000 7.53
Maguire Properties, 7.625%,
Series A.......................... 288,900 7,193,610 7.67
Mid-America Apartment Communities,
8.30%, Series H................... 690,600 17,796,762 8.07
Mills Corp., 8.75%, Series E......... 197,600 5,335,200 8.11
Omega Healthcare Investors, 8.375%,
Series D.......................... 200,000 5,210,000 8.02
Saul Centers, 8.00%, Series A........ 94,400 2,515,760 7.50
SL Green Realty Corp., 7.625%,
Series C.......................... 100,000 2,563,000 7.45
SL Green Realty Corp., 7.875%,
Series D.......................... 60,000 1,530,000 7.73
--------------
98,882,419
--------------
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6
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS -- (CONTINUED)
SEPTEMBER 30, 2004 (UNAUDITED)
NUMBER DIVIDEND
OF SHARES VALUE YIELD
---------- -------------- ------------
TELECOMMUNICATION SERVICES 1.90%
Centaur Funding Corp., 9.08%(a).. ... 13,908 $ 17,412,794 7.25%
Telephone & Data Systems, 7.60%,
Series A.......................... 197,800 5,208,074 7.22
United States Cellular Corp., 7.50%,
due 6/15/34, Series............... 105,000 2,756,250 7.16
--------------
25,377,118
--------------
TOTAL PREFERRED SECURITIES --
$25 PAR VALUE (Identified
cost -- $337,940,464)........ 348,412,399
--------------
PREFERRED SECURITIES --
CAPITAL TRUST 32.64%
BANK 7.04%
AgFirst Farm Credit Bank, 7.30%,
due 10/14/49, 144A................ 29,100,000 29,392,455 7.23
Astoria Capital Trust I, 9.75%,
due 11/1/29, Series B............. 13,500,000 16,051,500 8.20
BankBoston Capital Trust II, 7.75%,
due 12/15/26...................... 1,500,000 1,658,877 7.01
BT Preferred Capital Trust II,
7.875%, due 2/25/27............... 5,000,000 5,603,045 7.03
Great Western Financial Trust II,
8.206%, due 2/1/27, Series A...... 5,232,000 5,928,186 7.25
ML Capital Trust I, 9.875%, due
3/1/27, Series B.................. 1,800,000 2,124,225 8.37
Republic New York Capital I, 7.75%,
due 11/15/26 (TruPS).............. 1,000,000 1,099,698 7.05
Roslyn Preferred Trust FRN, 4.78%,
due 4/1/32, 144A.................. 10,000,000 9,975,000 4.77
Roslyn Real Estate Asset Corp. FRN,
4.813%, due 9/30/08, Series D..... 100 10,000,000 4.76
Sky Financial Capital Trust I, 9.75%,
due 5/1/30, Series B.............. 3,000,000 3,516,000 7.97
Webster Capital Trust I, 9.36%,
due 1/29/27, 144A................. 7,300,000 8,420,090 8.11
--------------
93,769,076
--------------
-------------------
(a) The fund prices this security at fair value using procedures approved by
the fund's board of directors.
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7
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS -- (CONTINUED)
SEPTEMBER 30, 2004 (UNAUDITED)
NUMBER DIVIDEND
OF SHARES VALUE YIELD
---------- -------------- ------------
BANK -- FOREIGN 8.06%
BNP Paribas Capital Trust V, 7.20%... 19,550,000 $ 20,537,685 6.85%
CA Preferred Fund Trust, 7.00%
(Eurobond)........................ 25,200,000 26,139,733 6.75
HBOS Capital Funding LP, 6.85%....... 24,000,000 24,614,544 6.68
HSBC Capital Funding LP, 10.176%..... 9,680,000 14,827,892 6.65
RBS Capital Trust B, 6.80%........... 20,700,000 21,291,316 6.61
--------------
107,411,170
--------------
ELECTRIC -- INTEGRATED 2.24%
Dominion Resources Capital Trust III,
8.40%, due 1/15/31................ 21,732,000 26,687,005 7.80
DPL Capital Trust, 8.125%, due
9/1/31............................ 3,000,000 3,127,500 7.80
--------------
29,814,505
--------------
FINANCE 4.65%
CREDIT CARD 0.52%
MBNA Capital, 8.278%, due 12/1/26,
Series A.......................... 6,200,000 6,921,767 7.42
--------------
DIVERSIFIED FINANCIAL SERVICES 2.08%
Old Mutual Capital Funding, 8.00%,
due 5/29/49 (Eurobond)............ 27,000,000 27,768,204 7.78
--------------
INVESTMENT BANKER/BROKER 1.06%
Chase Capital I, 7.67%, due
12/1/06........................... 2,519,000 2,732,387 7.07
JPM Capital Trust I, 7.54%, due
1/15/27........................... 3,925,000 4,200,649 7.05
JPM Capital Trust II, 7.95%, due
2/27/07........................... 6,400,000 7,146,112 7.12
--------------
14,079,148
--------------
MORTGAGE LOAN/BROKER 0.99%
Countrywide Capital III, 8.05%, due
6/15/27, Series B (SKIS).......... 11,285,000 13,245,126 6.86
--------------
TOTAL FINANCE........................ 62,014,245
--------------
FOOD -- DAIRY PRODUCTS 0.79%
Dairy Farmers of America, 7.875%,
144A(a)........................... 105,000 10,555,734 7.84
--------------
INSURANCE 8.09%
BROKERS 0.17%
Aon Capital Trust A, 8.205%, due
1/1/27............................ 2,000,000 2,302,776 7.13
--------------
LIFE/HEALTH 0.33%
AmerUS Capital, 8.85%, due 2/1/27,
Series A.......................... 4,000,000 4,334,580 8.17
--------------
-------------------
(a) The fund prices this security at fair value using procedures approved by
the fund's board of directors.
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8
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS -- (CONTINUED)
SEPTEMBER 30, 2004 (UNAUDITED)
NUMBER DIVIDEND
OF SHARES VALUE YIELD
---------- -------------- ------------
MULTI-LINE 5.99%
AFC Capital Trust I, 8.207%, due
2/03/27, Series B................. 5,000,000 $ 5,000,000 8.21%
AXA, 7.10%, (Eurobond)............... 26,500,000 27,328,125 6.88
GenAmerica Capital I, 8.525%, due
6/30/27........................... 14,000,000 16,256,744 7.35
USF&G Capital, 8.312%, due 7/01/46... 2,000,000 2,428,220 6.84
Zurich Capital Trust I, 8.376%, due
6/01/37........................... 25,212,000 28,860,580 7.32
--------------
79,873,669
--------------
PROPERTY/CASUALTY 1.60%
Oil Casualty Insurance, 8.00%, due
9/15/34........................... 5,000,000 4,983,265 8.03
W.R. Berkley Capital Trust, 8.197%,
due 12/15/45...................... 15,100,000 16,399,959 7.55
--------------
21,383,224
--------------
TOTAL INSURANCE...................... 107,894,249
--------------
PIPELINES 1.77%
K N Capital Trust I, 8.56%, due
4/15/27 (TruPS)................... 9,513,000 11,103,174 7.33
K N Capital Trust III, 7.63%, due
4/15/28 (TruPS)................... 11,330,000 12,474,092 6.93
--------------
23,577,266
--------------
TOTAL PREFERRED
SECURITIES -- CAPITAL TRUST
(Identified cost --
$421,059,937)................. 435,036,245
--------------
PRINCIPAL
AMOUNT
-----------
CORPORATE BOND 5.74%
AUTOMOTIVE 3.97%
Ford Holdings, 9.30%, due 3/1/30....... $ 2,500,000 2,858,047
Ford Motor Co., 9.98%, due 2/15/47..... 14,400,000 17,780,026
General Motors Corp., 7.375%, due
5/23/48............................. 19,377,000 18,557,585
General Motors Corp., 8.25%, due
7/15/23............................. 13,000,000 13,707,993
--------------
52,903,651
--------------
DIVERSIFIED FINANCIAL SERVICES 0.38%
BF Saul Real Estate Investment Trust,
7.50%, due 3/1/14, 144A............. 5,000,000 5,125,000
--------------
INVESTMENT BANKER/BROKER 0.62%
NBP Capital Trust III, 7.375%, due
10/29/49............................ 7,900,000 8,231,255
--------------
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9
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS -- (CONTINUED)
SEPTEMBER 30, 2004 (UNAUDITED)
PRINCIPAL
AMOUNT VALUE
----------- --------------
MEDIA -- DIVERSIFIED SERVICES 0.77%
Liberty Media Corp., 8.25%, due
2/1/30.............................. $ 9,250,000 $ 10,295,564
--------------
TOTAL CORPORATE BOND
(Identified cost -- $72,007,883) 76,555,470
--------------
COMMERCIAL PAPER 0.24%
State Street Boston Corp., 1.40%,
due 10/01/04 (Identified
cost -- $3,178,000)...... 3,178,000 3,178,000
--------------
TOTAL INVESTMENTS (Identified
cost -- $1,777,861,132)............ 149.53% 1,993,190,298(a)
OTHER ASSETS IN EXCESS OF
LIABILITIES........................ 0.81% 10,790,608
LIQUIDATION VALUE OF AUCTION MARKET
PREFERRED SHARES: SERIES M7, SERIES
T7, SERIES W7, SERIES TH7, SERIES F7
(Equivalent to $25,000 per share
based on 3,280 shares outstanding per
class), SERIES W28A, SERIES W28B,
SERIES W28C (Equivalent to $25,000 per
share based on 2,800 shares
outstanding per class), AND
SERIES T28 (Equivalent to $25,000
per share based on 2,040 shares
outstanding per class)............. (50.34)% (671,000,000)
--------------
NET ASSETS APPLICABLE TO COMMON
SHARES (Equivalent to $27.63 per
share based on 48,251,666 shares of
capital stock outstanding)......... 100.00% $1,332,980,906
--------------
--------------
GLOSSARY OF PORTFOLIO ABBREVIATIONS
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CABCO Corporate Asset Backed Corporation
CBTCS Corporate Backed Trust Certificates
COPrS Canadian Origin Preferred Securities
CORTS Corporate Backed Trust Securities
FRN Floating Rate Note
PINES Public Income Notes
PPLUS Preferred Plus Trust
QUICS Quarterly Income Capital Securities
SKIS Subordinated Capital Income Securities
TOPrS Trust Originated Preferred Securities
TruPS Trust Preferred Securities
--------------------------------------------------------------------------------
-------------------
(a) At September 30, 2004, net unrealized appreciation was $215,329,166
based on cost for federal income tax purposes of $1,777,861,132. This
consisted of aggregate gross unrealized appreciation on investments of
$217,890,933 and aggregate gross unrealized depreciation on investments
of $2,561,767.
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10
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COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
SCHEDULE OF INVESTMENTS -- (CONTINUED)
SEPTEMBER 30, 2004 (UNAUDITED)
NOTE 1. INVESTMENTS IN INTEREST RATE SWAPS
The fund has entered into interest rate swap agreements with Merrill Lynch
Derivative Products AG, UBS AG, and Royal Bank of Canada. Under the
agreements the fund receives a floating rate and pays a respective fixed
rate. Details of the swaps at September 30, 2004 are as follows:
UNREALIZED
NOTIONAL FIXED FLOATING RATE(a) APPRECIATION/
COUNTERPARTY AMOUNT RATE (RESET MONTHLY) TERMINATION DATE (DEPRECIATION)
-------------------------------- ----------- ---------- --------------- ------------------ --------------
Royal Bank of Canada............ $58,125,000 3.3980% 1.840% August 25, 2007 $ (347,903)
Royal Bank of Canada............ $43,250,000 3.4525% 1.77875% September 16, 2008 (6,077)
UBS AG.......................... $58,125,000 2.8325% 1.840% August 25, 2006 (15,298)
UBS AG.......................... $58,125,000 3.9900% 1.840% August 25, 2009 (828,825)
UBS AG.......................... $58,125,000 4.3975% 1.840% August 25, 2010 (1,644,051)
UBS AG.......................... $58,125,000 4.5950% 1.840% August 25, 2011 (1,983,048)
Merrill Lynch Derivative
Products AG................... $43,625,000 3.3200% 1.8275% October 22, 2007 (127,098)
Merrill Lynch Derivative
Products AG................... $58,500,000 3.2075% 1.670% October 2, 2008 555,546
Merrill Lynch Derivative
Products AG................... $20,000,000 3.4100% 1.750% January 13, 2009 102,625
-----------
$(4,294,129)
-----------
-----------
-------------------
(a) Based on LIBOR (London Interbank Offered Rate). Represents rates in effect
at September 30, 2004.
--------------------------------------------------------------------------------
11
Item 2. Controls and Procedures
(a) The registrant's principal executive officer and principal financial
officer have concluded that the registrant's disclosure controls and
procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
1940) are effective based on their evaluation of these disclosure controls
and procedures required by Rule 30a-3(b) under the Investment Company Act
of 1940 and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act
as of a date within 90 days of the filing of this report.
(b) During the last fiscal quarter, there were no changes in the registrant's
internal control over financial reporting (as defined in Rule 30a-3(d)
under the Investment Company Act of 1940) that has materially affected, or
is reasonably likely to materially affect, the registrant's internal
control over financial reporting.
Item 3. Exhibits.
(a) Certifications of principal executive officer and principal financial
officer as required by Rule 30a-2(a) under the Investment Company Act of
1940.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.
By: /s/ Robert H. Steers
--------------------------------
Name: Robert H. Steers
Title: Chairman
Date: November 29, 2004
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By: /s/ Robert H. Steers By: /s/ Martin Cohen
------------------------------- --------------------------------
Name: Robert H. Steers Name: Martin Cohen
Title: Chairman, Secretary and Title: President, Treasurer
principal executive officer and principal financial officer
Date: November 29, 2004
13