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
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