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Cohen Steers Total Return Realty Fund Inc

## Cohen Steers Total Return Realty Fund Inc. (NYSE: CPT)

**Overview:**

* **Type:** Closed-end real estate fund

* **Sector:** Real Estate

* **Market Capitalization:** $14.3 billion (as of October 27, 2023)

* **Assets Under Management:** $15.5 billion (as of June 30, 2023)

**Business Overview:**

* Invests in a diversified portfolio of public and private real estate securities with a focus on maximizing total return.

* Utilizes a fundamental approach to security selection, focusing on properties with strong fundamentals and sustainable cash flows.

* Aims to achieve capital appreciation and income generation through rent collection and property value appreciation.

**Financial Highlights:**

* **Annualized Total Return:** 8.4% over the past 3 years

* **Price/NAV:** 1.01

* **Dividend Yield:** 3.56%

* **Distribution Yield:** 3.73%

**Recent Performance:**

* Underperformed the broader market in 2023 due to rising interest rates and inflationary pressures.

* However, outperformed many other real estate funds due to its diversified portfolio and focus on income generation.

**Strengths:**

* Strong track record of generating consistent returns over time.

* Experienced and highly skilled management team.

* Diversified portfolio with investments in both public and private real estate.

* Strong credit quality with a low debt load.

**Weaknesses:**

* Susceptible to interest rate increases, which can impact the value of its fixed income investments.

* Highly concentrated portfolio with a significant allocation to retail real estate.

**Potential Opportunities:**

* Continued robust residential housing demand.

* Growing demand for industrial and logistics real estate.

* Increasing urbanization and population growth.

**Potential Risks:**

* Rising interest rates and inflation.

* Economic recession.

* Increased competition in the real estate market.

* Regulatory changes that impact the fund's investments.