Attractive Valuation in Anticipation of Lower Interest Rates: Cohen & Steers Total Return Realty Overview

Cohen & Steers Total Return Realty (RFI) is a fund that provides exposure to real estate without physical property ownership. The fund offers attractive valuation in anticipation of lower interest rates. RFI is a landlord in the sense that it owns physical properties, but investors can benefit from the fund's diversified portfolio and professional management.

Cohen & Steers Total Return Realty Fund, Inc. (RFI) has announced the sources of distribution for the upcoming payment on August 29, 2025, and provided cumulative distributions paid for the fiscal year-to-date. The fund, which provides exposure to real estate without physical property ownership, has implemented a managed distribution policy since December 2011, in accordance with exemptive relief issued by the Securities and Exchange Commission.

The managed distribution policy aims to deliver the fund's long-term total return potential through regular monthly distributions declared at a fixed rate per common share. This policy allows the fund to realize long-term capital gains throughout the year and distribute those gains on a monthly basis to shareholders. The Board of Directors of the Fund may amend, terminate, or suspend the managed distribution policy at any time, which could impact the market price of the Fund's shares.

The fund's monthly distributions may include long-term capital gains, short-term capital gains, net investment income, and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains. These distributions reduce a shareholder's tax basis in their shares of the Fund but are not taxable themselves.

The estimated amounts for the current distribution and cumulative distributions paid this fiscal year-to-date are as follows:
- Net Investment Income: $0.0140 per share (17.50% of current distribution)
- Net Realized Short-Term Capital Gains: $0.0000 per share (0.00% of current distribution)
- Net Realized Long-Term Capital Gains: $0.0660 per share (82.50% of current distribution)
- Return of Capital: $0.0000 per share (0.00% of current distribution)
- Total Current Distribution: $0.0800 per share (100.00%)

Investors should note that the amounts and sources of distributions reported in this notice are only estimates and may change over time. The actual amounts and sources of distributions for accounting and tax reporting purposes will depend on the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.

The fund's year-to-date cumulative total return for fiscal year 2025 (January 1, 2025, through July 31, 2025) is 3.45%, while the cumulative distribution rate for the same period is 5.58%. The average annual total return for the five-year period ending July 31, 2025, is 6.55%, with a current annualized distribution rate of 8.37%.

Investors should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. For more information, including the Fund's most recent periodic reports and other regulatory filings, contact your financial advisor or visit Cohen & Steers' website.

References:
[1] https://www.prnewswire.com/news-releases/cohen--steers-total-return-realty-fund-inc-rfi-notification-of-sources-of-distribution-under-section-19a-302541564.html
[2] https://www.morningstar.com/news/pr-newswire/20250828ny61683/cohen-steers-total-return-realty-fund-inc-rfi-notification-of-sources-of-distribution-under-section-19a