Jones Lang Lasalle Income Property Trust Inc.

07/08/2024 | Press release | Distributed by Public on 08/08/2024 04:51

JLL Income Property Trust Declares 51st Consecutive Quarterly Dividend

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ:ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $6.6 billion in portfolio equity and debt investment assets, announced that on August 6, 2024, its Board of Directors declared a dividend for the third quarter of 2024 of $0.1575 per share. This will be the 51st consecutive dividend paid to its stockholders.

The dividend is payable on or around September 26, 2024 to stockholders of record as of September 23, 2024. On an annualized basis, this gross dividend is equivalent to $0.63 per share and represents a yield of approximately 5.4% on a NAV per share of $11.72 as of June 30, 2024. All stockholders will receive $0.1575 per share less applicable share class specific fees and the annualized yield will differ based on the share class.

"We are proud that JLL Income Property Trust continues to be a reliable and growing source of current income for our stockholders, with this being our 51st consecutive quarterly dividend payable to stockholders," said JLL Income Property Trust President and CEO Allan Swaringen. "Our previous quarter's dividend increase of 8.6% - driven by strong portfolio operating performance - was the most recent increase. Over our 12-year history, we have increased the dividend nine times for an average annual increase of 4.2% - providing important inflation-hedging income to our stockholders."

A second quarter 2024 dividend of $0.1575 per share, less applicable share class specific fees, was paid according to the table below on June 27, 2024 to stockholders of record as of June 24, 2024. Any future dividends will be approved at the discretion of the Board of Directors.

M-I Share

A-I Share1

M Share2

A Share3

Q2 Quarterly Gross Dividend per Share

$0.1575

$0.1575

$0.1575

$0.1575

Less: Dealer Manager Fee per Share

-

($0.00720)

($0.00809)

($0.02189)

Q2 Quarterly Net Dividend per Share

$0.1575

$0.15030

$0.14941

$0.13561

NAV per Share as of June 30, 2024

$11.72

$11.74

$11.72

$11.71

Annualized Net Dividend Yield Based on
NAV as of June 30, 2024

5.4 %

5.1 %

5.1 %

4.6 %

  1. A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class A-I stockholders daily and reduces the quarterly dividend paid.
  2. 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.
  3. A dealer manager fee equal to 1/365th of 0.85% of NAV is allocated to Class A stockholders daily and reduces the quarterly dividend paid.

JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms.

For more information on JLL Income Property Trust, please visit our website at www.jllipt.com.