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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950117-05-002176.txt : 20050611
<SEC-HEADER>0000950117-05-002176.hdr.sgml : 20050611
<ACCEPTANCE-DATETIME>20050527111128
ACCESSION NUMBER:		0000950117-05-002176
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050331
FILED AS OF DATE:		20050527
DATE AS OF CHANGE:		20050527
EFFECTIVENESS DATE:		20050527

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COHEN & STEERS REIT & PREFERRED INCOME FUND INC
		CENTRAL INDEX KEY:			0001224450
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21326
		FILM NUMBER:		05862009

	BUSINESS ADDRESS:	
		STREET 1:		757 THIRD AVE.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COHEN & STEERS REIT & PREFERRED BALANCED INCOME FUND INC
		DATE OF NAME CHANGE:	20030325
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>a39942.txt
<DESCRIPTION>COHEN & STEERS REIT & PREFERRED INCOME FUND
<TEXT>

<Page>


                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM N-Q

                   QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
                          REGISTERED MANAGEMENT COMPANY

Investment Company Act file number:        811-21326

Exact Name of Registrant
(as specified in charter):   Cohen & Steers REIT and Preferred Income Fund, Inc.

Address of Principal Executive Office:     757 Third Avenue
                                           New York, NY 10017

Name and address of agent for service:     John E. McLean
                                           757 Third Avenue
                                           New York, NY 10017

Registrant telephone number, including area code:  (212) 832-3232

Date of fiscal year end:   December 31

Date of reporting period:  March 31, 2005





<Page>


Item 1. Schedule of Investments


- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                            SCHEDULE OF INVESTMENTS
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>
                                                  NUMBER                        DIVIDEND
                                                OF SHARES        VALUE           YIELD(a)
                                                ----------   --------------   ------------
<S>                                             <C>          <C>              <C>
  COMMON STOCK                         83.36%(b)
    DIVERSIFIED                         6.75%
         Capital Trust -- Class A.............      97,400   $    3,231,732       6.63%
         Colonial Properties Trust............     300,000       11,523,000       7.03
         Crescent Real Estate Equities Co.....   1,064,000       17,385,760       9.18
         iStar Financial......................     990,000       40,768,200       7.12
         Vornado Realty Trust.................     239,100       16,562,457       4.39
                                                             --------------
                                                                 89,471,149
                                                             --------------
    HEALTH CARE                        12.45%
         Health Care Property Investors(c)....   2,819,500       66,173,665       7.08
         Healthcare Realty Trust..............     199,200        7,258,848       7.14
         Health Care REIT.....................   1,745,600       55,859,200       7.50
         Nationwide Health Properties.........   1,362,200       27,530,062       7.32
         Ventas...............................     335,000        8,361,600       5.77
                                                             --------------
                                                                165,183,375
                                                             --------------
    HOTEL                               2.02%
         Hospitality Properties Trust.........     545,200       22,015,176       7.13
         Strategic Hotel Capital..............     323,800        4,759,860       5.99
                                                             --------------
                                                                 26,775,036
                                                             --------------
    INDUSTRIAL                          3.72%
         First Industrial Realty Trust........   1,303,400       49,307,622       7.35
                                                             --------------
    MORTGAGE                            2.53%
         Newcastle Investment Corp............   1,135,074       33,598,190       8.45
                                                             --------------
</Table>

- -------------------
(a) Dividend yield is computed by dividing the security's current annual
    dividend rate by the last sale price on the principal exchange, or market,
    on which such security trades.
(b) Percentages indicated are based on the net assets applicable to common
    shares of the fund.
(c) 75,000 shares segregated as collateral for interest rate swap transactions.

- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>
                                                  NUMBER                      DIVIDEND
                                                OF SHARES        VALUE         YIELD
                                                ----------   --------------      -----
<S>                                             <C>          <C>              <C>
    OFFICE                             24.37%
         Arden Realty.........................   1,488,700   $   50,392,495       5.97%
         Brandywine Realty Trust..............     787,800       22,373,520       6.20
         CarrAmerica Realty Corp..............     942,300       29,729,565       6.34
         CRT Properties.......................     290,000        6,316,200       6.43
         Equity Office Properties Trust.......   2,533,300       76,328,329       6.64
         Highwoods Properties.................     910,200       24,411,564       6.34
         HRPT Properties Trust................   1,406,100       16,746,651       7.05
         Mack-Cali Realty Corp................   1,199,500       50,798,825       5.95
         Maguire Properties...................   1,286,100       30,712,068       6.70
         Prentiss Properties Trust............     374,900       12,806,584       6.56
         Reckson Associates Realty Corp.......      87,500        2,686,250       5.53
                                                             --------------
                                                                323,302,051
                                                             --------------
    OFFICE/INDUSTRIAL                   3.99%
         Liberty Property Trust...............   1,143,300       44,645,865       6.25
         Mission West Properties..............     778,800        8,255,280       6.04
                                                             --------------
                                                                 52,901,145
                                                             --------------
    RESIDENTIAL -- APARTMENT           13.55%
         AMLI Residential Properties Trust....     590,400       16,171,056       7.01
         Archstone-Smith Trust................   1,941,500       66,224,565       5.04
         Camden Property Trust................     581,800       27,362,054       5.40
         Education Realty Trust(a)............     368,800        6,133,144         --
         GMH Communities Trust................     604,200        7,075,182       7.77
         Gables Residential Trust.............   1,186,100       39,497,130       7.24
         Mid-America Apartment Communities....     349,000       12,738,500       6.41
         Town & Country Trust.................     173,400        4,586,430       6.50
                                                             --------------
                                                                179,788,061
                                                             --------------
    SELF STORAGE                        1.08%
         Sovran Self Storage..................     222,200        8,805,786       6.11
         U-Store-It Trust(a)..................     315,800        5,494,920         --
                                                             --------------
                                                                 14,300,706
                                                             --------------

</Table>

- -------------
(a) Nonincome producing security.


- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>
                                                  NUMBER                      DIVIDEND
                                                OF SHARES        VALUE         YIELD
                                                ----------   --------------      -----
<S>                                             <C>          <C>              <C>
    SHOPPING CENTER                     12.90%
       COMMUNITY CENTER                  8.24%
         Cedar Shopping Centers...............     400,000   $    5,696,000       6.32%
         Heritage Property Investment Trust...   2,002,300       59,428,264       7.08
         New Plan Excel Realty Trust..........   1,340,500       33,659,955       6.57
         Ramco-Gershenson Properties Trust....     390,000       10,588,500       6.45
                                                             --------------
                                                                109,372,719
                                                             --------------
       REGIONAL MALL                     4.66%
         Glimcher Realty Trust................   2,121,600       50,281,920       8.11
         Macerich Co..........................     215,200       11,465,856       4.88
                                                             --------------
                                                                 61,747,776
                                                             --------------
         TOTAL SHOPPING CENTER................                  171,120,495
                                                             --------------
              TOTAL COMMON STOCK
                (Identified
                cost -- $916,539,030).........                1,105,747,830
                                                             --------------
  PREFERRED SECURITIES -- $25 PAR VALUE 26.34%
    AUTOMOTIVE                           0.26%
         DaimlerChrysler, 7.25% (CBTCS).......      26,008          642,658       7.34
         DaimlerChrysler, 7.50% (CBTCS).......      38,800          956,032       7.61
         Ford Motor Co., 8.00% (CORTS)........      80,000        1,907,200       8.39
                                                             --------------
                                                                  3,505,890
                                                             --------------
    BANK                                 2.64%
         ASBC Capital I, 7.625%, Series A
            (TOPrS)...........................      75,500        1,978,100       7.28
         Cobank ACB, 7.00%, 144A(a)...........     200,000       10,476,000       6.68
         Colonial Capital Trust IV, 7.875%....     390,000       10,062,000       7.63
         Countrywide Capital IV, 6.75%........      71,100        1,786,032       6.73
         First Republic Bank, 6.70%...........     200,000        5,060,000       6.65
         Fleet Capital Trust VIII, 7.20%
            Series............................      87,900        2,268,699       6.97
         HSBC USA, Series F...................      96,000        2,400,000       3.85
         Old Second Bancorp Capital Trust I,
            7.80%.............................      90,000          949,050       7.50
                                                             --------------
                                                                 34,979,881
                                                             --------------

</Table>
- ------------------
(a) The fund prices this security at fair value using procedures approved by
    the fund's board of directors.

- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>
                                                  NUMBER                      DIVIDEND
                                                OF SHARES        VALUE         YIELD
                                                ----------   --------------      -----
<S>                                             <C>          <C>              <C>
    BANK -- FOREIGN                     1.35%
         Abbey National PLC, 7.375%, Series
            B.................................     105,700   $    2,822,190       6.91%
         Abbey National PLC, 7.375%, Series
            C.................................     493,264       12,923,517       7.05
         Northern Rock, 8.00%, Series.........      30,000          752,589       7.97
         Royal Bank of Scotland Group, 7.25%,
            Series H..........................      55,600        1,411,684       7.14
                                                             --------------
                                                                 17,909,980
                                                             --------------
    ELECTRIC -- INTEGRATED              1.49%
         DTE Energy Trust II, 7.50%, due
            6/01/44, Series...................      55,200        1,457,280       7.10
         Energy East Capital Trust I, 8.25%...      61,000        1,598,200       7.87
         Enterprise Capital Trust, 7.44%......     116,000        2,905,800       7.43
         NVP Capital III, 7.75%, due 9/30/38,
            Series............................      81,900        2,037,672       7.79
         NVP Capital I, 8.20%, due 3/31/37,
            Series A (QUIPS)..................       2,600           64,688       8.24
         Northern States Power Co., 8.00%,
            Notes (PINES).....................      41,700        1,116,309       7.47
         PSEG Funding Trust II, 8.75%
            Series............................     199,900        5,481,258       7.98
         Puget Sound Energy Capital Trust II,
            8.40% (TOPrS).....................      70,800        1,811,772       8.21
         Southern California Edison, 7.23%,
            due 4/30/07, Series M.............      12,300        1,241,378       7.16
         Virginia Power Capital Trust II,
            7.375%, (TruPS)...................      79,761        2,085,750       7.05
                                                             --------------
                                                                 19,800,107
                                                             --------------
    FINANCE                             1.38%
         MBNA Capital, 8.125%, Series D
            (TruPS)...........................     234,100        5,971,891       7.96
         MBNA Capital, 8.10%, Series E
            (TOPrs)...........................     166,300        4,293,866       7.84
         Merrill Lynch & Co., Series 1
            (FRN).............................     320,000        8,102,400       3.59
                                                             --------------
                                                                 18,368,157
                                                             --------------
    GAS -- DISTRIBUTION                 3.57%
         Dominion CNG Capital, 8.40%..........      78,700        2,054,070       7.47
         Laclede Capital Trust I, 7.70%
            (TOPrS)...........................      56,300        1,517,285       7.14
         Southern Union Co., 7.55%, Series
            C.................................   1,040,000       27,778,400       7.07
         Southwest Gas Capital Trust II,
            7.70%.............................     600,000       15,960,000       7.26
                                                             --------------
                                                                 47,309,755
                                                             --------------
</Table>

- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>
                                                  NUMBER                      DIVIDEND
                                                OF SHARES        VALUE         YIELD
                                                ----------   --------------      -----
<S>                                             <C>          <C>              <C>
    INSURANCE                           2.85%
       LIFE/HEALTH INSURANCE            0.20%
         Lincoln National Capital V, 7.65%,
            Series E (TruPS)..................      63,700   $    1,635,816       7.45%
         Torchmark Capital Trust I, 7.75%.....      41,000        1,065,590       7.45
                                                             --------------
                                                                  2,701,406
                                                             --------------
       MULTI-LINE                       0.79%
         ING Groep NV, 7.05% Series...........     241,600        6,199,456       6.87
         ING Groep NV, 7.20% Series...........     165,700        4,281,688       6.97
                                                             --------------
                                                                 10,481,144
                                                             --------------
       PROPERTY/CASUALTY                1.01%
         ACE Ltd., 7.80%, Series C............     389,300       10,125,693       7.50
         St. Paul Capital Trust I, 7.60%
            (TruPS)...........................     125,130        3,198,323       7.43
                                                             --------------
                                                                 13,324,016
                                                             --------------
       REINSURANCE                      0.17%
         Everest Re Capital Trust II, 6.20%,
            Series B..........................     100,000        2,291,000       6.77
                                                             --------------
       REINSURANCE -- FOREIGN           0.68%
         PartnerRe Ltd., 6.75%, Series C......     206,500        5,162,500       6.75
         PartnerRe Ltd., 7.90%, Series D......      54,000        1,333,800       6.58
         RenaissanceRE Holdings Ltd., 8.10%,
            Series A..........................      30,900          805,872       7.76
         RenaissanceRE Holdings Ltd., 7.30%,
            Series B..........................      65,900        1,700,220       7.07
                                                             --------------
                                                                  9,002,392
                                                             --------------
         TOTAL INSURANCE......................                   37,799,958
                                                             --------------
    MEDIA                               1.73%
       CABLE TELEVISION                 0.91%
         Shaw Communications, 8.50%, Series B
            (COPrS)...........................     479,700       12,054,861       8.46
                                                             --------------
       DIVERSIFIED SERVICES             0.82%
         AOL Time Warner, 7.625%, Series A-1
            (CABCO)...........................     112,600        2,989,530       7.18
         Liberty Media Corp., 8.75% (CBTCS)...     198,500        5,051,825       8.60
         Liberty Media Corp., 8.75% (PPLUS)...     108,745        2,787,134       8.53
                                                             --------------
                                                                 10,828,489
                                                             --------------
         TOTAL MEDIA..........................                   22,883,350
                                                             --------------
</Table>

- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>

                                                  NUMBER                      DIVIDEND
                                                OF SHARES        VALUE         YIELD
                                                ----------   --------------      -----
<S>                                             <C>          <C>              <C>
  OIL -- EXPLORATION                    1.19%
         Nexen, 7.35%, due 11/1/43,
            Series B..........................     608,660   $   15,800,814       7.08%
                                                             --------------
  REAL ESTATE                           7.75%
    DIVERSIFIED                         1.39%
         iStar Financial, 7.875%, Series E....     400,000       10,168,000       7.74
         iStar Financial, 7.80%, Series F.....     243,600        6,297,060       7.54
         iStar Financial, 7.65%, Series G.....      80,000        2,010,400       7.59
                                                             --------------
                                                                 18,475,460
                                                             --------------
    HEALTH CARE                         0.60%
         Health Care REIT, 7.875%, Series D...     100,000        2,505,000       7.86
         Health Care REIT, 7.625%, Series F...      10,000          250,000       7.62
         Omega Healthcare Investors, 8.375%,
            Series D..........................     200,000        5,200,000       8.05
                                                             --------------
                                                                  7,955,000
                                                             --------------
    HOTEL                               0.18%
         Innkeepers USA Trust, 8.00%,
            Series C..........................      93,500        2,346,850       7.97
                                                             --------------
    OFFICE                              1.91%
         Cousins Properties, 7.75%, Series
            A.................................     457,500       11,551,875       7.67
         Kilroy Realty Corp, 7.80%, Series
            E.................................     100,000        2,515,000       7.75
         Maguire Properties, 7.625%, Series
            A.................................     288,900        7,179,165       7.67
         SL Green Realty Corp., 7.625%, Series
            C.................................     100,000        2,535,000       7.55
         SL Green Realty Corp., 7.875%, Series
            D.................................      60,000        1,510,200       7.82
                                                             --------------
                                                                 25,291,240
                                                             --------------
    RESIDENTIAL -- APARTMENT            1.98%
         Apartment Investment and Management
            Co., 8.00%, Series T..............      93,700        2,315,327       8.09
         Apartment Investment and Management
            Co., 8.00%, Series V..............     101,000        2,519,950       8.02
         Apartment Investment & Management
            Co., 7.875%, Series Y.............     110,000        2,722,500       7.95
         Associated Estates Realty Corp.,
            8.70%, Series B...................      40,000        1,024,000       8.50
         Mid-America Apartment Communities,
            8.30%, Series H...................     690,600       17,748,420       8.07
                                                             --------------
                                                                 26,330,197
                                                             --------------
</Table>

- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>

                                                  NUMBER                      DIVIDEND
                                                OF SHARES        VALUE         YIELD
                                                ----------   --------------      -----
<S>                                             <C>          <C>              <C>
    SHOPPING CENTER                     1.69%
       COMMUNITY CENTER                 0.30%
         Developers Diversified Realty Corp.,
            7.50%, Series I...................      47,800   $    1,205,038       7.44%
         Developers Diversified Realty Corp.,
            8.00%, Series G...................      38,700          999,621       7.74
         Saul Centers, 8.00%, Series A........      69,400        1,759,984       7.89
                                                             --------------
                                                                  3,964,643
                                                             --------------
       REGIONAL MALL                    1.39%
         Glimcher Realty Trust, 8.75%, Series
            F.................................     279,300        7,261,800       8.41
         Glimcher Realty Trust, 8.125%, Series
            G.................................     240,000        6,024,000       8.09
         Mills Corp., 8.75%, Series E.........     197,600        5,161,312       8.37
                                                             --------------
                                                                 18,447,112
                                                             --------------
         TOTAL SHOPPING CENTER................                   22,411,755
                                                             --------------
              TOTAL REAL ESTATE...............                  102,810,502
                                                             --------------
    TELECOMMUNICATION SERVICES          2.13%
         Centaur Funding Corp., 9.08%(a)......      13,908       17,851,210       7.07
         Telephone & Data Systems, 7.60%,
            Series A..........................     197,800        5,059,724       7.43
         United States Cellular Corp., 7.50%,
            due 6/15/34, Series...............     201,500        5,275,270       7.16
         Verizon South, 7.00%, Series F.......       3,300           84,018       6.87
                                                             --------------
                                                                 28,270,222
                                                             --------------
              TOTAL PREFERRED SECURITIES --$25
                PAR VALUE (Identified
                cost -- $343,899,156).........                  349,438,616
                                                             --------------

</Table>

- --------------
(a) The fund prices this security at fair value using procedures approved by the
    fund's board of directors.


- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>

                                                  NUMBER                      DIVIDEND
                                                OF SHARES        VALUE         YIELD
                                                ----------   --------------      -----
<S>                                             <C>          <C>              <C>
  PREFERRED SECURITIES -- CAPITAL TRUST 34.12%
    BANK                                 6.45%
         AgFirst Farm Credit Bank, 7.30%,
            due 10/14/49, 144A................  29,100,000   $   30,558,376       6.95%
         Astoria Capital Trust I, 9.75%, due
            11/1/29, Series B.................  13,500,000       16,140,600       8.15
         BankBoston Capital Trust II, 7.75%,
            due 12/15/26......................   1,500,000        1,604,948       7.24
         BT Preferred Capital Trust II,
            7.875%, due 2/25/27...............   1,000,000        1,089,923       7.23
         First Tennessee Bank, Series 144A....       2,000        2,005,000       0.10
         Great Western Financial Trust II,
            8.206%, due 2/1/27, Series A......   2,232,000        2,440,085       7.51
         Roslyn Preferred Trust FRN, 4.78%,
            due 4/1/32, 144A..................  10,000,000       10,050,000       5.74
         Roslyn Real Estate Asset Corp. FRN,
            4.813%, due 9/30/08, Series D.....         100       10,075,000       6.15
         Sky Financial Capital Trust I, 9.75%,
            due 5/1/30, Series B..............   3,000,000        3,554,100       7.88
         Webster Capital Trust I, 9.36%, due
            1/29/27, 144A.....................   7,300,000        8,079,669       8.46
                                                             --------------
                                                                 85,597,701
                                                             --------------
    BANK -- FOREIGN                      7.86%
         BNP Paribas Capital Trust V, 7.20%...  19,550,000       20,088,172       7.01
         CA Preferred Fund Trust, 7.00%
            (Eurobond)........................  25,200,000       25,797,492       6.84
         HBOS Capital Funding LP, 6.85%.......  23,000,000       23,464,830       6.71
         HSBC Capital Funding LP, 10.176%.....   9,680,000       14,915,718       6.60
         RBS Capital Trust B, 6.80%...........  19,700,000       20,032,733       6.69
                                                             --------------
                                                                104,298,945
                                                             --------------
    ELECTRIC -- INTEGRATED               2.58%
         Dominion Resources Capital Trust III,
            8.40%, due 1/15/31................  21,732,000       27,704,453       6.59
         DPL Capital Trust, 8.125%, due
            9/1/31............................   3,000,000        3,472,260       7.02
         Enterprise Capital Trust II, due
            6/30/28, Series B.................   3,000,000        2,986,815       3.80
                                                             --------------
                                                                 34,163,528
                                                             --------------
</Table>

- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>

                                                  NUMBER                      DIVIDEND
                                                OF SHARES        VALUE         YIELD
                                                ----------   --------------      -----
<S>                                             <C>          <C>              <C>
    FINANCE                             4.92%
       CREDIT CARD                      0.51%
         MBNA Capital, 8.278%, due 12/1/26,
            Series A..........................   6,200,000   $    6,760,127       7.59%
                                                             --------------
       DIVERSIFIED FINANCIAL SERVICES   2.33%
         Old Mutual Capital Funding, 8.00%,
            due 5/29/49 (Eurobond)............  29,950,000       30,946,826       7.74
                                                             --------------
       INVESTMENT BANKER/BROKER         1.04%
         Chase Capital I, 7.67%, due
            12/1/06...........................   2,519,000        2,708,056       7.13
         JPM Capital Trust I, 7.54%, due
            1/15/27...........................   3,925,000        4,232,751       6.99
         JPM Capital Trust II, 7.95%, due
            2/27/07...........................   6,400,000        6,892,909       7.38
                                                             --------------
                                                                 13,833,716
                                                             --------------
       MORTGAGE LOAN/BROKER             1.04%
         Countrywide Capital III, 8.05%, due
            6/15/27, Series B (SKIS)..........  11,285,000       13,718,170       6.62
                                                             --------------
         TOTAL FINANCE........................                   65,258,839
                                                             --------------
    FOOD                                1.61%
         Dairy Farmers of America, 7.875%,
            144A(a)...........................     135,000       13,708,170       7.76
         Gruma S.A., 7.75%, due 12/29/49,
            144A(a)...........................   8,000,000        7,658,152       8.10
                                                             --------------
                                                                 21,366,322
                                                             --------------
    INSURANCE                           7.91%
       LIFE/HEALTH                      0.34%
         AmerUS Capital, 8.85%, due 2/1/27,
            Series A..........................   4,000,000        4,463,040       7.93
                                                             --------------
       MULTI-LINE                       6.55%
         AFC Capital Trust I, 8.207%, due
            02/03/27, Series B................  15,750,000       16,809,125       7.69
         AXA, 7.10%, due 5/29/49 (Eurobond)...  26,500,000       27,306,925       6.89
         GenAmerica Capital I, 8.525%, due
            6/30/27...........................  14,000,000       15,471,806       7.71
         USF&G Capital, 8.312%, due 7/1/46....   3,845,000        4,588,696       6.96
         Zurich Capital Trust I, 8.376%, due
            6/1/37............................  20,712,000       22,655,262       7.66
                                                             --------------
                                                                 86,831,814
                                                             --------------

</Table>

- -----------
(a) The fund prices this security at fair value using procedures approved by
    the fund's board of directors.


- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>

                                                  NUMBER                      DIVIDEND
                                                OF SHARES        VALUE         YIELD
                                                ----------   --------------      -----
<S>                                             <C>          <C>              <C>
       PROPERTY/CASUALTY                1.02%
         W.R. Berkley Capital Trust, 8.197%,
            due 12/15/45......................  13,100,000   $   13,583,744       7.91%
                                                             --------------
         TOTAL INSURANCE......................                  104,878,598
                                                             --------------
    OIL COMPANY -- EXPLORATION AND
       PRODUCTION         0.83%
         Pemex Project Funding Master Trust,
            7.75%, due 9/29/49................  11,000,000       10,932,229       7.80
                                                             --------------
    PIPELINES                           1.96%
         K N Capital Trust I, 8.56%, due
            4/15/27 (TruPS)...................   9,513,000       10,657,052       7.64
         K N Capital Trust III, 7.63%, due
            4/15/28 (TruPS)...................  13,330,000       15,395,710       6.61
                                                             --------------
                                                                 26,052,762
                                                             --------------
              TOTAL PREFERRED SECURITIES --
                CAPITAL TRUST (Identified
                cost -- $439,585,577).........                  452,548,924
                                                             --------------
</Table>

<Table>
<Caption>
                                                PRINCIPAL
                                                 AMOUNT
                                               -----------
<S>                                           <C>                <C>
CORPORATE BOND                         8.39%
  AUTOMOTIVE                           1.81%
         Ford Motor Co., 9.98%, due
            2/15/47..........................  $13,400,000       14,763,919
         General Motors Corp., 7.375%, due
            5/23/48..........................   11,377,000        9,173,082
                                                             --------------
                                                                 23,937,001
                                                             --------------
  CELLULAR TELECOMMUNICATIONS          0.08%
         Rogers Wireless Communications,
            8.00%, due 12/15/12, 144A........    1,000,000        1,032,500
                                                             --------------
  INSURANCE                            1.98%
         Liberty Mutual Insurance, 7.697%,
            due 10/15/97.....................   16,730,000       17,894,977
         Oil Casualty Insurance, 8.00%,
            due 9/15/34, 144A................    8,000,000        8,382,392
                                                             --------------
                                                                 26,277,369
                                                             --------------
  INVESTMENT BANKER/BROKER             1.33%
         NBP Capital Trust III, 7.375%, due
            10/29/49.........................   16,900,000       17,697,122
                                                             --------------
</Table>

- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>
                                                  PRINCIPAL
                                                   AMOUNT          VALUE
                                                 -----------   --------------
<S>                                              <C>           <C>
  MEDIA                                  0.82%
         Liberty Media Corp., 8.25%, due
            2/1/30.............................  $ 7,250,000   $    7,371,227
         Rogers Cable, 8.75%, due 5/1/32.......    3,000,000        3,495,000
                                                               --------------
                                                                   10,866,227
                                                               --------------
  MEDICAL -- HOSPITALS                   1.20%
         Columbia/HCA, 7.50%, due 11/15/95.....   16,534,000       15,946,778
                                                               --------------
  REAL ESTATE
    0.39%
         BF Saul Real Estate Investment Trust,
            7.50%, due 3/1/14, 144A............    5,000,000        5,212,500
                                                               --------------
  TELEPHONE -- INTEGRATED                0.78%
         Citizens Communications Co., 9.00%,
            due 8/15/31........................    9,925,000       10,371,625
                                                               --------------
              TOTAL CORPORATE BOND
                (Identified cost --
                $112,185,205)..................                   111,341,122
                                                               --------------
COMMERCIAL PAPER                         0.14%
         Prudential FDG Corp., 2.12%, due
            04/01/05 (Identified cost --
            $1,860,000)........................    1,860,000        1,860,000
                                                               --------------
</Table>

- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

<Table>
<Caption>
                                                                                    VALUE
                                                                                --------------
<S>                                                    <C>                      <C>
TOTAL INVESTMENTS (Identified
  cost -- $1,814,002,086)............................  152.35%                  $2,020,936,492(a)
OTHER ASSETS IN EXCESS OF LIABILITIES................    2.38%                      31,524,609
LIQUIDATION VALUE OF AUCTION MARKET PREFERRED SHARES:
  SERIES M7, SERIES T7, SERIES W7, SERIES F7
  (Equivalent to $25,000 per share based on 3,280
  shares outstanding per class), SERIES TH7
  (Equivalent to $25,000 per share based on 5,480
  shares outstanding), SERIES W28A, SERIES W28B,
  SERIES W28C (Equivalent to $25,000 per share based
  on 2,800 shares outstanding per class), AND
  SERIES TH28 (Equivalent to $25,000 per share based
  on 2,040 shares outstanding).......................  (54.73%)                   (726,000,000)
                                                       ------                   --------------
NET ASSETS APPLICABLE TO COMMON SHARES (Equivalent to
  $27.49 per share based on 48,251,666 shares of
  capital stock outstanding).........................  100.00%                  $1,326,461,101
                                                       ------                   --------------
                                                       ------                   --------------
</Table>

                      GLOSSARY OF PORTFOLIO ABBREVIATIONS

<Table>
  <S>             <C>
  CABCO           Corporate Asset Backed Corporation
  CBTCS           Corporate Backed Trust Certificates
  COPrS           Canadian Origin Preferred Securities
  CORTS           Corporate Backed Trust Securities
  FRN             Floating Rate Note
  PINES           Public Income Notes
  PPLUS           Preferred Plus Trust
  QUIPS           Quarterly Income Preferred Securities
  SKIS            Subordinated Capital Income Securities
  TOPrS           Trust Originated Preferred Securities
  TruPS           Trust Preferred Securities
</Table>

- -------------------
(a) At March 31, 2005, net unrealized appreciation was $206,934,406 based on
    cost for federal income tax purposes of $1,814,002,086. This consisted of
    aggregate gross unrealized appreciation on investments of $212,791,160
    and aggregate gross unrealized depreciation on investments of $5,856,754.

- --------------------------------------------------------------------------------



<Page>

- --------------------------------------------------------------------------------
               COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

                     SCHEDULE OF INVESTMENTS -- (CONTINUED)
                           MARCH 31, 2005 (UNAUDITED)

NOTE 1. INVESTMENTS IN INTEREST RATE SWAPS

    The fund has entered into interest rate swap agreements with Merrill Lynch
Derivative Products AG, UBS AG, and Royal Bank of Canada. Under the agreements
the fund receives a floating rate and pays a respective fixed rate. The fund has
segregated 75,000 shares of Health Care Property Investors as collateral for the
interest rate swap transactions. Details of the swaps at March 31, 2005 are as
follows:

<Table>
<Caption>
                                  NOTIONAL                 FLOATING RATE(a)                         UNREALIZED
         COUNTERPARTY              AMOUNT     FIXED RATE   (RESET MONTHLY)    TERMINATION DATE     APPRECIATION
- -------------------------------  -----------  ----------   ---------------   ------------------   --------------
<S>                              <C>          <C>          <C>               <C>                  <C>
Merrill Lynch Derivative
  Products AG..................  $43,625,000   3.3200%         2.850%          October 22, 2007     $  964,517
Merrill Lynch Derivative
  Products AG..................  $58,500,000   3.2075%         2.716%           October 2, 2008      2,208,310
Merrill Lynch Derivative
  Products AG..................  $20,000,000   3.4100%         2.800%          January 13, 2009        693,852
Royal Bank of Canada...........  $58,125,000   3.3980%         2.850%           August 25, 2007      1,043,532
Royal Bank of Canada...........  $43,250,000   3.4520%         2.820%        September 16, 2008      1,247,229
UBS AG.........................  $58,125,000   2.8325%         2.850%           August 25, 2006        852,341
UBS AG.........................  $58,125,000   3.9900%         1.840%           August 25, 2009      1,080,059
UBS AG.........................  $58,125,000   4.3975%         2.850%           August 25, 2010        395,467
UBS AG.........................  $58,125,000   4.5950%         2.850%           August 25, 2011         57,768
                                                                                                    ----------
                                                                                                    $8,543,075
                                                                                                    ----------
                                                                                                    ----------
</Table>

- -------------------
(a) Based on LIBOR (London Interbank Offered Rate). Represents rates in effect
    at March 31, 2005.

- --------------------------------------------------------------------------------





<Page>


Item 2. Controls and Procedures

(a)   The registrant's principal executive officer and principal financial
      officer have concluded that the registrant's disclosure controls and
      procedures (as defined in Rule 30a-3(c) under the Investment Company
      Act of 1940) are effective based on their evaluation of these
      disclosure controls and procedures required by Rule 30a-3(b) under the
      Investment Company Act of 1940 and Rule 13a-15(b) or 15d-15(b) under
      the Securities Exchange Act as of a date within 90 days of the filing
      of this report.

(b)   During the last fiscal quarter, there were no changes in the
      registrant's internal control over financial reporting (as defined in
      Rule 30a-3(d) under the Investment Company Act of 1940) that has
      materially affected, or is reasonably likely to materially affect, the
      registrant's internal control over financial reporting.

Item 3. Exhibits.

(a)   Certifications of principal executive officer and principal financial
      officer as required by Rule 30a-2(a) under the Investment Company Act
      of 1940.





<Page>


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

COHEN & STEERS REIT AND PREFERRED INCOME FUND, INC.

By: /s/ Robert H. Steers
    --------------------------------
        Name: Robert H. Steers
        Title: Chairman

        Date: May 27, 2005

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.


<TABLE>
<S>                                           <C>
By: /s/ Robert H. Steers                       By:  /s/ Martin Cohen
    --------------------------------                ---------------------------------------
        Name: Robert H. Steers                          Name: Martin Cohen
        Title: Chairman, Secretary and                  Title: President, Treasurer
                principal executive officer                     and principal financial officer
</TABLE>

        Date: May 27, 2005





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3
<SEQUENCE>2
<FILENAME>ex3a.txt
<DESCRIPTION>EXHIBIT 3(A)
<TEXT>

<Page>


                                  EXHIBIT 3(a)
                          RULE 30a-2(a) CERTIFICATIONS

I, Robert H. Steers, certify that:

1.   I have reviewed this report on Form N-Q of Cohen & Steers REIT and
     Preferred Income Fund, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the schedules of investments included in this report
     fairly present in all material respects the investments of the registrant
     as of the end of the fiscal quarter for which the report is filed;

4.   The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
     control over financial reporting (as defined in Rule 30-a-3(d) under the
     Investment Company Act of 1940) for the registrant and have:

     (a)  designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under our
          supervision, to ensure that material information relating to the
          registrant, including its consolidated subsidiaries, is made known to
          us by others within those entities, particularly during the period in
          which this report is being prepared;

     (b)  designed such internal control over financial reporting, or caused
          such internal control over financial reporting to be designed under
          our supervision, to provide reasonable assurance regarding the
          reliability of financial reporting and the preparation of financial
          statements for external purposes in accordance with generally accepted
          accounting principles;

     (c)  evaluated the effectiveness of the registrant's disclosure controls
          and procedures and presented in this report our conclusions about the
          effectiveness of the disclosure controls and procedures, as of a date
          within 90 days prior to the filing date of this report based on such
          evaluation; and

     (d)  disclosed in this report any change in the registrant's internal
          control over financial reporting that occurred during the registrant's
          most





<Page>


          recent fiscal quarter that has materially affected, or is reasonably
          likely to materially affect, the registrant's internal control over
          financial reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

     (a)  all significant deficiencies and material weaknesses in the design or
          operation of internal control over financial reporting which are
          reasonably likely to adversely affect the registrant's ability to
          record, process, summarize, and report financial information; and

     (b)  any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          control over financial reporting.



     Date: May 27, 2005

                                               /s/ Robert H. Steers
                                               --------------------
                                               Robert H. Steers
                                               Chairman, Secretary and
                                               principal executive officer





<Page>


                                  EXHIBIT 3(a)
                          RULE 30a-2(a) CERTIFICATIONS



I, Martin Cohen, certify that:

1.   I have reviewed this report on Form N-Q of Cohen & Steers REIT and
     Preferred Income Fund, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material fact or omit to state a material fact necessary to make the
     statements made, in light of the circumstances under which such statements
     were made, not misleading with respect to the period covered by this
     report;

3.   Based on my knowledge, the schedules of investments included in this report
     fairly present in all material respects the investments of the registrant
     as of the end of the fiscal quarter for which the report is filed;

4.   The registrant's other certifying officer(s) and I are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
     control over financial reporting (as defined in Rule 30-a-3(d) under the
     Investment Company Act of 1940) for the registrant and have:

     (a)  designed such disclosure controls and procedures, or caused such
          disclosure controls and procedures to be designed under our
          supervision, to ensure that material information relating to the
          registrant, including its consolidated subsidiaries, is made known to
          us by others within those entities, particularly during the period in
          which this report is being prepared;

     (b)  designed such internal control over financial reporting, or caused
          such internal control over financial reporting to be designed under
          our supervision, to provide reasonable assurance regarding the
          reliability of financial reporting and the preparation of financial
          statements for external purposes in accordance with generally accepted
          accounting principles;

     (c)  evaluated the effectiveness of the registrant's disclosure controls
          and procedures and presented in this report our conclusions about the
          effectiveness of the disclosure controls and procedures, as of a date
          within 90 days prior to the filing date of this report based on such
          evaluation; and





<Page>


     (d)  disclosed in this report any change in the registrant's internal
          control over financial reporting that occurred during the registrant's
          most recent fiscal quarter that has materially affected, or is
          reasonably likely to materially affect, the registrant's internal
          control over financial reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed to the
     registrant's auditors and the audit committee of the registrant's board of
     directors (or persons performing the equivalent functions):

     (a)  all significant deficiencies and material weaknesses in the design or
          operation of internal control over financial reporting which are
          reasonably likely to adversely affect the registrant's ability to
          record, process, summarize, and report financial information; and

     (b)  any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          control over financial reporting.


     Date: May 27, 2005


                                             /s/ Martin Cohen
                                             ----------------
                                             Martin Cohen
                                             President, Treasurer and
                                             principal financial officer



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
