Cohen & Steers Total Return Realty Fund

RFI

Market cap $314M

For nearly five decades, US REITs have delivered stronger returns than broad US stocks in the 12 months following Federal Reserve easing cycles. Rate cuts may increase the attractiveness of REIT dividends, potentially making them a compelling option for investors seeking yield potential and portfolio diversification. Data centers, telecom infrastructure, and health care REITs have historically benefited the most from lower rates due to long-duration leases and capital-intensive models.

NEW YORK , Sept. 29, 2025 /PRNewswire/ -- This press release provides shareholders of Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the "Fund") with information regarding the sources of the distribution to be paid on September 30, 2025 and cumulative distributions paid fiscal year-to-date.

REITs performed very well in August (+5.48%), almost pulling the REIT sector's year-to-date total return back into the black (-1.11%). Small cap (+7.52%) and mid cap REITs (+7.13%) averaged strong gains in August while large caps (+3.16%) and micro caps (+0.87%) averaged more modest returns. 83.87% of REIT securities had a positive total return in August.

RFI offers diversified real estate exposure and an 8% yield, letting investors collect income without property management hassles. Despite recent underperformance, due to high-interest rates, RFI has outperformed traditional real estate ETFs on a total return basis. Dividend coverage is inconsistent and relies on realized gains, so sustained high rates could pressure payouts, though management values steady distributions.

NEW YORK , Aug. 28, 2025 /PRNewswire/ -- This press release provides shareholders of Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the "Fund") with information regarding the sources of the distribution to be paid on August 29, 2025 and cumulative distributions paid fiscal year-to-date. In December 2011, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission.

U.S. equity markets notched another series of record highs this week, surging into the weekend after surprisingly dovish commentary from Federal Reserve Chair Powell, who hinted at imminent rate cuts. Powell used his final Jackson Hole speech as Fed Chair to deliver a clear policy pivot, an unexpected reversal after months of insistence that tariff-related inflation warranted a hawkish framework. Markets were equally relieved by the policy-focused nature of Powell's speech amid speculation that the address may be used instead as a potential defiant sermon on central bank independence.

A surprising solid REIT earnings season wrapped up this week. Of the 100 equity REITs that provide full-year FFO guidance, 62% raised their outlook - above the historical 55% average. Disinflation was a surprisingly common thread across second-quarter results, with the majority of the upside revisions being driven by improved expense expectations - the highest quantity of expense reductions ever. Healthcare REITs were notable upside standouts as senior housing fundamentals remained stellar, while skilled nursing REITs received some good news on the policy front via healthy CMS Medicare rate increases.

U.S. equity markets fell sharply this week, while benchmark interest rates retreated to three-month lows, after revised employment data showed that job growth was far weaker than initially reported. The BLS payrolls report showed softer-than-expected hiring in July and the steepest two-month downward revisions to jobs growth since 2020, raising concern that the Fed may be "behind the curve." The downward revisions came days after Fed Chair Powell used it as the primary evidence for "solid" labor markets, which justified the FOMC's decision to keep rates in "restrictive" territory.

Return to office mandates are providing a boost to REITs. Some deal activity has also been a tailwind. Tariffs and slowing residential rent growth remain headwinds.

NEW YORK , July 30, 2025 /PRNewswire/ -- This press release provides shareholders of Cohen & Steers Total Return Realty Fund, Inc. (NYSE: RFI) (the "Fund") with information regarding the sources of the distribution to be paid on July 31, 2025 and cumulative distributions paid fiscal year-to-date. In December 2011, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission.