JLL Income Property Trust Increases Quarterly Dividend for Ninth Time
The quarterly dividend is payable on or around
"We are pleased to once again enhance the current return to our stockholders through our ninth dividend increase over our eleven and a half years of operating as the first daily valued perpetual NAV REIT," said
Swaringen noted, "In a time period where core real estate valuations have declined due to rising interest rates – a frustrating consequence of the Fed's eleven rate increases – the operating performance of our portfolio continues to improve."
Noteworthy portfolio metrics supporting this dividend increase across the
- 96% average portfolio occupancy for 2021, 2022 and 2023
- 17% total revenue growth for 2023
- 26% average rent increases in 2023 across 1.6 million square feet of new and renewal leases
- 14% average rent increases in 2024 across 600,000 square feet of new and renewal leases
- 4% annual apartment rent growth and 5% annual single family rent growth in 2023
"As an institutionally sponsored real estate fund,
A first quarter 2024 dividend of
|
M-I Share |
A-I Share1 |
M Share2 |
A Share3 |
Q1 Quarterly Gross Dividend per Share |
|
|
|
|
Less: Dealer Manager Fee per Share |
- |
|
|
|
Q1 Quarterly Net Dividend per Share |
|
|
|
|
NAV per Share as of |
|
|
|
|
Annualized Net Dividend Yield Based on NAV as of |
4.8 % |
4.5 % |
4.5 % |
4.1 % |
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. |
For more information on
About
About
Valuations, Forward Looking Statements and Future Results
This press release may contain forward-looking statements with respect to
Contacts:
Telephone: +1 312 228 2048
Email: alissa.schachter@lasalle.com
Dukas Linden Public Relations
Telephone: +1 646 722 6530
Email: JLLIPT@DLPR.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/jll-income-property-trust-increases-quarterly-dividend-for-ninth-time-302139101.html
SOURCE