CHICAGO, May 22, 2018 /PRNewswire/ -- JLL Income
Property Trust, an institutionally managed daily NAV REIT (NASDAQ:
ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), announced that on May 8, 2018 its Board of Directors approved a
gross dividend for the second quarter of 2018 of $0.13 per share. JLL Income Property Trust has
declared twenty-six consecutive quarterly dividends to its
stockholders beginning with the first quarter 2012.
The dividend is payable on or around August 1, 2018 to stockholders of record as of
June 28, 2018. On an annualized
basis, this gross dividend is equivalent to $0.52 per share and represents a yield of
approximately 4.4 percent on a NAV per share of $11.80 as of May 15,
2018. All stockholders will receive $0.13 per share less applicable share class
specific fees and the annualized yield will differ based on the
share class.
"We are pleased to declare our 26th consecutive
dividend, while maintaining a prudent coverage ratio and providing
an attractive level of current income for distribution to our
stockholders," said Allan Swaringen,
President and CEO of JLL Income Property Trust.
A first quarter dividend of $0.13
per share, less applicable share class specific fees, was paid
according to the table below on May 1,
2018 to stockholders of record as of March 28, 2018.
|
M-I
Share1
|
A-I
Share2
|
M
Share3
|
A
Share4
|
|
Q1 Quarterly Gross
Dividend per Share
|
$0.13000
|
$0.13000
|
$0.13000
|
$0.13000
|
|
Less: Dealer Manager
Fee per Share
|
($0.00133)
|
($0.00832)
|
($0.00825)
|
($0.02830)
|
|
Q1 Quarterly Net
Dividend per Share
|
$0.12867
|
$0.12168
|
$0.12175
|
$0.10170
|
|
NAV per Share as of
March 29, 2018
|
$11.75
|
$11.75
|
$11.75
|
$11.72
|
|
Annualized Net
Dividend Yield Based on NAV as of March 29, 2018
|
4.4%
|
4.1%
|
4.1%
|
3.5%
|
|
|
1. A
dealer manager fee equal to 1/365th of 0.05% of NAV is allocated to
Class M-I stockholders daily and reduces the quarterly dividend
paid.
|
|
2. A
dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to
Class A-I stockholders daily and reduces the quarterly dividend
paid.
|
|
3. A dealer
manager fee equal to 1/365th of 0.30% of NAV is allocated to Class
M stockholders daily and reduces the quarterly dividend
paid.
|
|
4. A
dealer manager fee equal to 1/365th of 1.05% of NAV is allocated to
Class A stockholders daily and reduces the quarterly dividend
paid.
|
JLL Income Property Trust is an institutionally managed, daily
valued perpetual life real estate investment trust (REIT) that
gives investors access to a growing portfolio of commercial real
estate investments selected by an institutional investment
management team and sponsored by one of the world's leading real
estate services firms.
For more information on JLL Income Property Trust, please visit
our website at www.jllipt.com.
About JLL Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX;
ZIPIAX; ZIPIMX),
Jones Lang LaSalle Income Property Trust, Inc. is a daily valued
perpetual life real estate investment trust (REIT) that owns and
manages a diversified portfolio of high quality, income-producing
office, retail, industrial and apartment properties located
primarily in the United States.
JLL Income Property Trust expects to further diversify its real
estate portfolio over time, including on a global basis. For more
information, visit www.jllipt.com.
About LaSalle Investment Management
LaSalle Investment Management, Inc., a member of the JLL group
and advisor to JLL Income Property Trust, is one of the world's
leading global real estate investment managers with nearly 700
employees in 17 countries worldwide and approximately $59 billion of assets under management of private
and public property equity and debt investments. LaSalle's diverse client base includes public
and private pension funds, insurance companies, governments,
endowments and private individuals from across the globe. For more
information, visit www.lasalle.com.
Forward Looking Statements and Future Results
This press release may contain forward-looking statements
with respect to JLL Income Property Trust. Forward-looking
statements are statements that are not descriptions of historical
facts and include statements regarding management's intentions,
beliefs, expectations, research, market analysis, plans or
predictions of the future. Because such statements include risks,
uncertainties and contingencies, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Past performance is not indicative of future
results.
Contact: Matt
Schuler
Telephone: +1 312 897 4192
Email: matt.schuler@lasalle.com
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SOURCE JLL Income Property Trust