CHICAGO, May 13, 2019 /PRNewswire/ -- JLL Income
Property Trust, an institutionally managed daily NAV REIT (NASDAQ:
ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), announced that on
May 7, 2019 its Board of Directors
approved a gross dividend for the second quarter of 2019 of
$0.135 per share. JLL Income Property
Trust has declared thirty consecutive quarterly dividends to its
stockholders beginning with the first quarter 2012.
The dividend is payable on or around August 1, 2019 to stockholders of record as of
June 27, 2019. On an annualized
basis, this gross dividend is equivalent to $0.54 per share and represents a yield of
approximately 4.4 percent on a NAV per share of $12.17 as of May 6,
2019. All stockholders will receive $0.135 per share less applicable share class
specific fees and the annualized yield will differ based on the
share class.
"One of our stated investment objectives is to generate
attractive and durable income for distribution to stockholders,"
said Allan Swaringen, President and
CEO of JLL Income Property Trust. "We are pleased to reach this
milestone of 30 consecutive quarterly dividends as we focus on
delivering outcomes that meet our stockholders' expectations."
A first quarter dividend of $0.135
per share, less applicable share class specific fees, was paid
according to the table below on May 1,
2019 to stockholders of record as of March 28, 2019.
.
|
M-I Share
|
A-I
Share1
|
M
Share2
|
A
Share3
|
Q1 Quarterly Gross
Dividend per Share
|
$0.13500
|
$0.13500
|
$0.13500
|
$0.13500
|
Less: Dealer Manager
Fee per Share
|
-
|
($0.00847)
|
($0.00838)
|
($0.02284)
|
Q1 Quarterly Net
Dividend per Share
|
$0.13500
|
$0.12653
|
$0.12662
|
$0.11216
|
NAV per Share as of
March 31, 2019
|
$12.14
|
$12.14
|
$12.13
|
$12.12
|
Annualized Net
Dividend Yield Based on NAV as of March 31, 2019
|
4.4%
|
4.2%
|
4.2%
|
3.7%
|
|
1. 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.
|
2. 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.
|
3. A dealer
manager fee equal to 1/365th of 0.85% of NAV is allocated to Class
A stockholders daily and reduces the quarterly dividend
paid.
|
JLL Income Property Trust is an institutionally managed, daily
NAV 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 NAV REIT
that owns and manages a diversified portfolio of high quality,
income-producing apartment, industrial, office and retail
properties located 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 real estate
investment managers with approximately $65
billion equity and debt investments under management (as of
Q4 2018). LaSalle's diverse client
base includes public and private pension funds, insurance
companies, governments, corporations, endowments and private
individuals from across the globe. LaSalle sponsors a complete range of
investment vehicles including separate accounts, open and
closed-end funds, public securities and entity-level investments.
LaSalle is a wholly-owned,
operationally independent subsidiary of Jones Lang LaSalle Inc.
(NYSE: JLL), one of the world's largest real estate companies. For
more information please 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 and there can be no assurance that future
dividends will be paid.
Contact: Matt Schuler
Telephone: +1 312 897 4192
Email: matt.schuler@lasalle.com
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SOURCE JLL Income Property Trust