In plain terms — Cohen & Steers Ltd Duration Preferred & Income Fund
Shares currently cost about 10.4% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 6.5% discount, so today's level is unusually wide for this fund (Z-score -2.4). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 8.3% a year of the share price (7.4% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.12 of assets — a ReinvestCapture™ rate of 9.2%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 1.6% over the past year including distributions (NAV total return).
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -7.74% | 1.76% | -1.53 | 55 |
| 6 months | -7.18% | 1.53% | -2.12 | 107 |
| 1 year | -6.45% | 1.63% | -2.44 | 208 |
| 3 years | -6.26% | — | — | — |
| 5 years | -6.08% | — | — | — |
Current contemporaneous premium/discount -10.43% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -11.46% to -2.48%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -4.91% | -11.20% | -11.24% | -11.87% | +3.84% | -7.31% |
| Market price total return | -4.25% | -9.44% | -5.45% | -4.97% | +12.16% | +0.57% |
| NAV return | -2.22% | -4.59% | -5.99% | -5.36% | +3.60% | -4.05% |
| NAV total return | -1.61% | -2.86% | -0.28% | +1.57% | +11.37% | +3.62% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Cohen & Steers Limited Duration Preferred and Income Fund, Inc. (LDP) is a closed-end investment vehicle dedicated to fixed income, initially established by Cohen & Steers, Inc., and now managed by Cohen & Steers Capital Management, Inc. This U.S.-domiciled fund, which commenced operations on May 1, 2012, pursues investment opportunities across global fixed income markets. Its strategy involves allocating capital primarily to companies within the financial industry, including banks, diversified financial services, real estate, and insurance sectors. The portfolio predominantly comprises a diverse range of preferred securities, such as floating-rate, fixed-to-floating-rate, traditional, and hybrid-preferred instruments, in addition to various debt and convertible securities. The fund employs derivatives, like interest rate swaps, to facilitate its investment objectives. Portfolio construction is grounded in fundamental analysis, with a keen focus on assessing the credit quality of issuers and responding to prevailing market dynamics. The fund measures its performance against two benchmarks: the BofA Merrill Lynch Capital Securities Index, and a composite index consisting of 75% BofA Merrill Lynch Capital Securities Index and 25% BofA Merrill Lynch 7% Constrained Adjustable Rate Preferred Securities Index.
CEF Explorer research page for Cohen & Steers Ltd Duration Preferred & Income Fund, Inc.. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.