Daily valued perpetual life real estate investment trust (REIT) JLL Income Property Trust recently declared its 14th consecutive quarterly dividend. On May 5th, 2015 the REIT’s board of directors declared a quarterly dividend of $.12 per share for Q2 2015, marking its 14th consecutive quarter of paying a dividend to stockholders.
“We continue to offer to our investors stable dividend payments fully covered by cash flow from operations and at one of the highest dividend coverage ratios in the non-listed REIT industry,” commented Allan Swaringen, President and CEO of JLL Income Property Trust in a statement.
Stockholders of record on June 29, 2015 will receive the dividend payment on August 7, 2015. Annualized, the dividend equals $.48 per share or a yield of about 4.5 percent based on the current net asset value (NAV) of $10.77, as of May 6, 2015.
“Offering an attractive level of current income for distribution to our stockholders is one of our primary investment objectives. In addition, we continue to see opportunities to acquire high quality, income-producing properties to add to our portfolio for that purpose,” added Swaringen.
JLL Income Property Trust is a $2.7 billion offering that as of December 31, 2014 owned a portfolio valued at $920 million consisting of office, industrial, retail, and apartment properties.