CBRE Global Real Estate Income Fund (NYSE: IGR) Declares Monthly Distribution for October, November and December and Announces a Webinar with Portfolio Management
CBRE Global Real Estate Income Fund (NYSE:IGR) has announced its distribution plans for the months of October, November, and December 2023. The Fund’s Board of Trustees has declared three distributions of $0.06 per share, totaling $0.18 per share. The distributions will be paid on October 31, November 30, and December 29, 2023, respectively.
Investors in the Fund can look forward to a webinar hosted by the portfolio management team on October 26, 2023. The team will provide updates on the portfolio, market conditions, and their market outlook. Investors are encouraged to register for the webinar in advance through the Fund’s website.
With a current annualized distribution rate of 17.0% based on the closing market price of $4.24 on October 5, 2023, and 14.6% based on a closing NAV of $4.92 on the same date, the Fund offers an attractive distribution yield.
The Fund’s distribution policy is subject to change, and future earnings cannot be guaranteed. However, the Board of Trustees aims to establish a level monthly distribution that closely approximates the Fund’s net investment income and net realized capital gains throughout the year.
CBRE Global Real Estate Income Fund is a closed-end fund traded on the New York Stock Exchange. It primarily invests in real estate securities, providing investors with exposure to the real estate market. The Fund’s holdings are subject to change, and past performance is not indicative of future results.
For the period from January 1, 2023, to December 31, 2023, the Fund has made or declared twelve regular monthly distributions totaling $0.72 per share. The estimated source of these distributions includes net investment income, net realized short-term and long-term capital gains, and return of capital.
Investors should note that the estimated allocations provided are only estimates and are not for tax reporting purposes. The actual allocations will depend on the Fund’s investment experience for the remainder of the fiscal year and will be finalized after year-end. Shareholders will receive a Form 1099-DIV for the calendar year, indicating how to report fund distributions for federal income tax purposes.
The Fund’s performance and distribution rate information reveals a cumulative total return of -11.68% for the period from January 1, 2023, to September 30, 2023. The cumulative distribution rate for the same period is 10.59%. The Fund’s average annual total return for the preceding five-year period is 0.82%, while the average annual distribution rate is 8.20%. The current annualized distribution rate stands at 14.12%.
CBRE Investment Management, the firm behind the Fund, is a leading global real assets investment management firm with $147.6 billion in assets under management as of June 30, 2023. The firm operates in more than 30 offices and 20 countries, delivering sustainable investment solutions across real assets categories. CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc., the world’s largest commercial real estate services and investment firm.
Investors in CBRE Global Real Estate Income Fund can benefit from the expertise and resources of CBRE Investment Management, which leverages data, market insights, and investment sourcing to optimize investment outcomes. For more information about CBRE Investment Management and the Fund, visit www.cbreim.com.
Overall, CBRE Global Real Estate Income Fund continues to provide investors with regular distributions and the potential for attractive returns in the real estate market.