CHICAGO, March 12, 2018 /PRNewswire/ -- JLL Income
Property Trust, an institutionally managed daily NAV REIT (NASDAQ:
ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), announced that on March 6, 2018 its Board of Directors approved a
gross dividend for the first quarter of 2018 of $0.13 per share, a 4 percent increase from its
prior distribution for the fourth quarter 2017 of $0.125 per share. This increase represents the
fifth time JLL Income Property Trust has raised its dividend since
the first quarter of 2012, and the twenty-fifth consecutive
quarterly dividend distribution to its stockholders, with an
average annual increase of 5.4 percent during the period.
The dividend is payable on or around May
1, 2018 to stockholders of record as of March 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 Class M stock of $11.78 as of March 8,
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.
"Having moved past our five year track record last year, we are
pleased to reach two more milestones with our 25th consecutive
dividend paid and our fifth dividend increase since 2012," said
Allan Swaringen, President and CEO
of JLL Income Property Trust. "Our operating performance continues
to be strong, and we are happy to once again demonstrate our
ongoing commitment to providing attractive, risk-adjusted returns
for our stockholders."
A fourth quarter dividend of $0.125 per share, less applicable share class
specific fees, was paid according to the table below on
February 1, 2018 to stockholders of
record as of the close of business on December 28, 2017.
|
M-I
Share1
|
A-I
Share2
|
M
Share3
|
A
Share4
|
|
Q4 Quarterly Gross
Dividend per Share
|
$0.12500
|
$0.12500
|
$0.12500
|
$0.12500
|
|
Less: Dealer
Manager Fee per Share
|
($0.00136)
|
($0.00857)
|
($0.00845)
|
($0.02885)
|
|
Q4 Quarterly Net
Dividend per Share
|
$0.12364
|
$0.11643
|
$0.11655
|
$0.09615
|
|
NAV per Share as
of December 29, 2017
|
$11.70
|
$11.70
|
$11.69
|
$11.67
|
|
Annualized Net
Dividend Yield Based on NAV as of December 29, 2017
|
4.2%
|
4.0%
|
4.0%
|
3.3%
|
|
|
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 $58 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