May 17, 2022 — Chicago
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with more than $6.5 billion in portfolio assets, announced that on May 10, 2022, its Board of Directors declared a dividend for the second quarter of 2022 of $0.14 per share. This will be the 42nd consecutive dividend paid to its stockholders.
The dividend is payable on or around June 29, 2022 to stockholders of record as of June 23, 2022. On an annualized basis, this gross dividend is equivalent to $0.56 per share and represents a yield of approximately 3.8 percent on a NAV per share of $14.87 as of May 10, 2022. All stockholders will receive $0.14 per share less applicable share class-specific fees, and the annualized yield will differ based on the share class.
“As our stockholders and their advisors look to combat the current inflationary environment, dividends can help offset cost-of-living increases we are all experiencing – and real estate’s ability to grow cash flows over time make it an attractive investment during inflationary periods like today,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “We’ve achieved consistent dividend growth over the past decade and are now paying our 42nd consecutive quarterly dividend. And while the bond market suffered its worst quarterly performance in over 40 years, we realized our best quarterly returns in the first quarter of 2022, delivering what has been a consistent 1 percent income return, an 8.7 percent appreciation return and an overall 9.7 percent total return on our M-I share class.”
Swaringen added, “In today’s volatile investment market, core real estate continues to provide benefits to long-term patient investors.”
A first quarter dividend of $0.14 per share, less applicable share class specific fees, was paid according to the table below on March 30 to stockholders of record as of March 24. Any future dividends will be approved at the discretion of the Board of Directors.
M-I Share |
A-I Share1 |
M Share2 |
A Share3 |
|
Q1 Quarterly Gross Dividend per Share |
$0.14000 |
$0.14000 |
$0.14000 |
$0.14000 |
Less: Dealer Manager Fee per Share |
- |
($0.00904) |
($0.00902) |
($0.02533) |
Q1 Quarterly Net Dividend per Share |
$0.14000 |
$0.13096 |
$0.13098 |
$0.11467 |
NAV per Share as of March 31, 2022 |
$14.76 |
$14.77 |
$14.76 |
$14.73 |
Annualized Net Dividend Yield Based on NAV as of March 31, 2022 |
3.8% |
3.5% |
3.5% |
3.1% |
JLL Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, grocery-anchored retail, healthcare and office properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis.
LaSalle Investment Management, Inc. a member of the JLL group and advisor to JLL Income Property Trust, is one of the world’s leading real estate investment managers with approximately $79 billion equity and debt investments under management (as of Q3 2022). LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open and closed-end funds, public securities and entity-level investments. LaSalle is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Inc. (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
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 and there can be no assurance that future dividends will be paid.
You should read the prospectus carefully for a description of the risks associated with an investment in JLL Income Property Trust. Some of these risks include but are not limited to the following:
This literature contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” and other similar terms, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks, uncertainties, and contingencies include, but are not limited to, the following: our ability to effectively raise capital in our offering; uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our investment strategy; and other risk factors as outlined in our prospectus and periodic reports filed with the Securities and Exchange Commission. Although JLLIPT believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. JLLIPT undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in our expectations.
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