Non-listed, daily valued REIT, Jones Lang LaSalle Income Property Trust recently declared its 12th consecutive quarterly dividend. The perpetual life REIT invests in commercial real estate, including apartment, industrial, office, retail, and other properties located primarily in the United States.
The company’s board of directors declared a dividend of $0.12 per share, payable on February 6, 2015 to stockholders of record as of December 30, 2014. The dividend equals $0.48 per share on an annualized basis and represents an approximate yield of 4.56% on the current NAV per share of $10.53, as of November 12, 2014.
“We are pleased to continue to deliver to our stockholders consistent attractive income on their investment in our shares.” said Allan Swaringen, President and CEO of Jones Lang LaSalle Income Property Trust. “Providing an income return to our investors is one of our primary objectives. We are also proud to note that we continue to have one of the strongest dividend coverage ratios in the non-listed REIT industry,” he added.
As of September 30, 2014, Jones Lang LaSalle Income Property Trust has interests in 27 properties, located in 10 states and Canada.