RLTY - Cohen & Steers Real Estate Opportunities & Income Fund

What this means for you

None of the investors we follow has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

1. Feb 5, 2025

   Morgan Stanley sold down below 5% and stopped reporting.

   Original document →

2. Nov 26, 2024

   Morgan Stanley raised its stake to 5.9% (from 5.3%), as a passive investor.

   Original document →

3. Nov 6, 2024

   Morgan Stanley now owns 5.3%, as a passive investor.

   Original document →

About this fund

• Run by Cohen & Steers Capital Management, Inc. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Size: about $287 million of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 33% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• The fund's own example of what borrowing does: in a year in which the holdings returned -10%, a share would return about -17.9%; at +10%, about +12.9%. As of Dec 31, 2025, from the fund's annual report. Original document →
• Costs: 1.5% a year in management fees; 4.6% a year in total, including interest on borrowed money. Fiscal year ended Dec 31, 2025. As of Dec 31, 2025, from the fund's yearly report. Original document →
  Among the 7 funds we follow that invest in real estate companies, 6 charge a lower management fee and 5 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts.
• Payouts: last fiscal year (ended Dec 31, 2025) the fund paid $1.32 a share. $0.44 of that was income; $0.88 was your own money back, not income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of Dec 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Dec 31, 2025): $15.73. The shares traded at $14.70, about 6.6% below that. As of Dec 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 10.5% over the last three months we have (April-June 2026), before the share price is taken into account. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 2021.

How this has changed

• Payouts per share: $1.32 in the fiscal year ended Dec 31, 2025; $1.32 in the year ended Dec 31, 2024; $1.28 in the year ended Dec 31, 2023.As of Dec 31, 2025, from the fund's annual report. Original document →
• Of that, your own money back rather than income: $0.88 in the year ended Dec 31, 2025; $0.88 in the year ended Dec 31, 2024; $0.81 in the year ended Dec 31, 2023.As of Dec 31, 2025, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 4.55% a year in the fiscal year ended Dec 31, 2025; 4.86% a year in the year ended Dec 31, 2024; 5.09% a year in the year ended Dec 31, 2023.As of Dec 31, 2025, from the fund's annual report. Original document →
• Size of the holdings: about $263 million at Dec 31, 2025; $267 million at Dec 31, 2024; $269 million at Dec 31, 2023. From the fund's quarterly holdings reports. Original documents: Dec 31, 2025 →, Dec 31, 2024 →, Dec 31, 2023 →.
• Borrowing: about 35% on top of its own money at Dec 31, 2025; 35% at Dec 31, 2024; 35% at Dec 31, 2023. From the fund's quarterly holdings reports. Original documents: Dec 31, 2025 →, Dec 31, 2024 →, Dec 31, 2023 →.
• The fund had about 16.7 million shares at Dec 31, 2025, about the same as at Dec 31, 2023.As of Dec 31, 2025, from the fund's annual report. Original document →

What these lines mean: a payout that is your own money back, what a fund costs, borrowing.

What a holder made

• The year ended Dec 31, 2025: the shares returned +8.4%, counting payouts; the holdings +7.3%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of Dec 31, 2025, from the fund's annual report. Original document →
• The year ended Dec 31, 2024: the shares returned +15.3%, counting payouts; the holdings +8.4%. As of Dec 31, 2024, from the fund's annual report. Original document →
• The year ended Dec 31, 2023: the shares returned +13.9%, counting payouts; the holdings +13.6%. As of Dec 31, 2023, from the fund's annual report. Original document →
• The year ended Dec 31, 2022: the shares returned -28.5%, counting payouts; the holdings -17.5%. As of Dec 31, 2022, from the fund's annual report. Original document →
• Those four years together: the shares returned +1.9%. $10,000 of shares bought at the start (Jan 1, 2022) would have become about $10,200 by Dec 31, 2025, with every payout counted, before tax. As of Dec 31, 2025, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to June 30, 2026: +13%. The quarterly reports carry no share price, so this is the holdings alone. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Of the 6 funds that invest in real estate companies with a fiscal year ending within six months of this one, 0 reported a higher share return for that year and 5 a lower one. As of Dec 31, 2025, from the fund's annual report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

Mostly shares (69%), the rest bonds and preferred shares. About 86% issued in the U.S.

The fund also sells options on its holdings to raise income.

1. Welltower - 16.8%
2. Digital Realty Trust - 9.6%
3. Crown Castle - 7.1%
4. American Tower - 4.8%
5. Prologis - 4.7%
6. Equinix - 3.7%
7. Extra Space Storage - 3.3%
8. Public Storage - 3.3%
9. Equity LifeStyle Properties - 3%
10. Iron Mountain - 3%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →