NEW YORK, Oct. 3, 2017 /PRNewswire/ -- Neuberger
Berman Real Estate Securities Income Fund Inc. (NYSE American: NRO)
(the "Fund") announced today the results of its second and final
measurement period under its tender offer program that was
previously announced in July 2016 in
connection with other discount mitigation measures. Under the
tender offer program, the Fund would conduct two separate 12-week
measurement periods during 2017. If the Fund's common stock trades
at an average daily discount to net asset value per share ("NAV")
of greater than 10% during a 12-week measurement period, the Fund
will conduct a tender offer for at least 8% of its outstanding
shares of common stock at a price equal to 98% of the Fund's NAV
determined on the day the tender offer expires.
For the 12-week measurement period ended October 2, 2017, the Fund's common stock traded
at an average daily discount to net asset value per share of
-6.99%. Accordingly, the Fund will not conduct a tender
offer.
The Fund is a diversified, closed-end management investment
company that invests primarily in securities issued by real estate
companies, including real estate investment trusts (REITs).
The Fund's primary investment objective is high current income with
capital appreciation as a secondary investment objective. The
Fund's investment strategy seeks to develop a portfolio with a
broad mix of real estate securities through superior stock
selection and property sector allocation.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages equities, fixed
income, private equity and hedge fund portfolios for institutions
and advisors worldwide. With offices in 19 countries, Neuberger
Berman's team is approximately 1,900 professionals, as of
June 30, 2017. The company was named
the #1 firm in Pensions & Investments 2016 Best Places
to Work in Money Management survey (among those with 1,000
employees or more). Tenured, stable and long-term in focus, the
firm fosters an investment culture of fundamental research and
independent thinking. It manages $271
billion in client assets as of June
30, 2017. For more information, please visit our website at
www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed-end
investment companies, changes in government policy or regulation,
inability of the Fund's investment manager to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger
Berman
Investor Information
(877) 461-1899
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SOURCE Neuberger Berman Real Estate Securities Income Fund
Inc.