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Cohen & Steers Select Preferred Fund rated Hold amid discount and rising costs risks

Analyst Insights
21 Oct 2026
Seeking Alpha
View Source
Neutral
Cohen & Steers Select Preferred Fund rated Hold amid discount and rising costs risks

Cohen & Steers Select Preferred and Income Fund (PSF) is rated Hold with a fair value of $17.11, below its market price of $18.08. The fund trades at a 12% discount to its net asset value and offers an 8.4% yield. However, rising funding costs due to expiring interest rate swaps pressure its net investment income. Its long duration and high exposure to AT1 (CoCo) bonds increase sensitivity to rising yields and banking sector stress, risking declines in NAV and potential distribution cuts. The rating could improve if the discount widens and rates fall, or worsen if distributions drop significantly or yields rise above 5.5%.

Regarding Cohen & Steers Select Preferred and Income Fund (PSF), here is Pluang's market snapshot as of Oct 21, 2026 20:31 WIB: Among 150 priced US stocks tradable on Pluang, 74 rose and 73 fell today. Notable movers include MU (Micron Technology, Inc.) at USD 926.25 with a 1-day change of +3.37%, FCEL (FuelCell Energy Inc) at USD 12.81 with +3.35%, and NOK (Nokia Corp) at USD 9.30 with +3.10%. Typical hold times range from 48 to 66 days, with buy activity exceeding sell activity on these stocks.

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