August 15, 2016 — Chicago
JLL Income Property Trust, an institutionally-managed, daily valued, perpetual life real estate investment trust (REIT) (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), today announced that on August 11, 2016, its board of directors declared a dividend for the third quarter 2016 of $0.125 per share, a 4.2% increase from the prior quarter’s $0.12 per share. The increased dividend is payable on November 1, 2016 to stockholders of record on September 29, 2016. The dividend represents an annualized rate of $0.50 per share, marks the nineteenth consecutive quarterly dividend payment, and the fourth dividend increase since the first quarter of 2012.
“We are pleased to once again enhance the current return to our stockholders through this increased dividend and demonstrate our ongoing commitment to providing attractive, risk-adjusted returns,” said Allan Swaringen, President and CEO of JLL Income Property Trust. “Our operating performance continues to be strong, and we are confident that we can continue to add value to our portfolio.”
The annualized gross dividend of $0.50 per share represents a current yield of approximately 4.4% before applicable share class specific fees on JLL Income Property Trust’s NAV per share of $11.27 as of August 10, 2016. All stockholders will receive a third quarter dividend of $0.125 per share less applicable share class specific fees.
A second quarter dividend of $0.12 per share, less applicable share class specific fees, was paid according to the table below on August 1, 2016 to stockholders of record as of the close of business on June 29, 2016.
M-I Share (1) | A-I Share (2) | M Share (3) | A Share (4) | |
Q2 Quarterly Gross Dividend per Share | $0.12000 | $0.12000 | $0.12000 | $0.12000 |
Less: Dealer Manager Fee per Share | ($0.00124) | ($0.00671) | ($0.00794) | ($0.02619) |
Q2 Quarterly Net Dividend per Share | $0.11876 | $0.11329 | $0.11206 | $0.09381 |
NAV per Share as of June 30, 2016 | $11.22 | $11.22 | $11.21 | $11.19 |
Annualized Net Dividend Yield Based on NAV as of June 30, 2016 | 4.2% | 4.0% | 4.0% | 3.4% |
1 A dealer m anager 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 m anager 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.
For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.
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 Q4 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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