JLL Income Property Trust Increases Dividend
The board of JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), has approved a gross dividend for the first quarter of 2018.
The board of JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), has 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. The dividend will be paid on May 1, 2018 to stockholders of record as of March 28, 2018.
The company noted that the increase represents the fifth dividend increase since the first quarter of 2012, and the 25th consecutive quarterly dividend distribution to its stockholders, with an average annual increase of 5.4 percent during the period.
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.
In other company news, JLL Income Property Trust will hold a public earnings call on Thursday, March 15, 2018 at 1:00 PM CDT to review fourth quarter 2017 operating and financial results.
Dial-in Number (Toll Free): 1-877-407-9205
Dial-in Number (International): 201-689-8054
A teleconference replay will be available until March 22, 2018 at 1:00 PM CDT. An audio replay will also be posted to the SEC Filings section of the JLL Income Property Trust website within 24 hours of the call.
Replay Number (Toll Free): 1-877-481-4010
Replay ID: 24439
Jones Lang LaSalle Income Property Trust owns and manages a portfolio of office, retail, industrial and apartment properties located primarily in the United States. Since 2012, the company has raised a total of approximately $1.5 billion through its ongoing public and various private offerings, as well as its distribution reinvestment plan, according to Summit Investment Research. As of December 31, 2017, the REIT’s $2.6 billion portfolio consisted of 69 properties.
