Welcome to our dedicated page for CBRE Global Real Estate Income Fund news (Ticker: IGR), a resource for investors and traders seeking the latest updates and insights on CBRE Global Real Estate Income Fund stock.
CBRE Global Real Estate Income Fund (IGR) reports recurring fund updates centered on its monthly distribution declarations, managed distribution policy, net asset value calculations and market-price-based distribution rates. The fund is an income-oriented closed-end management investment company that invests primarily in income-producing real estate securities, including securities issued by real estate companies and real estate investment trusts.
News releases also cover portfolio management webinars, market-condition commentary and Board review of the fund’s distribution level and sustainability. These updates connect the fund’s real estate income strategy with NAV, share price and shareholder distribution information.
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CBRE Global Real Estate Income Fund (NYSE: IGR) recently concluded its transferable rights offering, which ended on April 6, 2023. The offering provided rights holders the opportunity to subscribe for up to 23,378,100 additional common shares at a subscription price of $5.03 per share. The offering grossed approximately $117.6 million. Although the offer was oversubscribed, the fund will not utilize the secondary oversubscription option, and excess payments from those who oversubscribed will be returned. Shares from the offering are expected to be issued on or about April 14, 2023. The final subscription price turned out to be lower than initially estimated, which will lead to refunds for certain subscribing rights holders.
The CBRE Global Real Estate Income Fund (NYSE: IGR) has announced three distributions of $0.06 per share for April, May, and June 2023, totaling $0.18 per share. The current annualized distribution rate is 14.1% based on a closing market price of $5.10 as of March 28, 2023. For the fiscal year to date, the fund has declared six regular monthly distributions totaling $0.36 per share. Estimated allocations for the distributions indicate approximately 48% comes from net realized long-term capital gains. The board reviews distribution rates quarterly based on the fund's net investment income and realized gains.
The CBRE Global Real Estate Income Fund (NYSE: IGR) has declared a monthly distribution of $0.06 per share for March 2023. The declaration date was March 9, 2023, with the ex-dividend date on March 17, 2023 and payable date on March 31, 2023. The Fund’s current annualized distribution rate is 10.8% based on the March 7 closing price of $6.69. Total distributions for the fiscal year to date are $0.18 per share. The Fund's distribution policy is subject to change and is reviewed quarterly based on net investment income and realized gains.
For more details, a webinar on the Fund’s performance and market outlook is scheduled for March 15, 2023.
The CBRE Global Real Estate Income Fund (NYSE: IGR) announced a webinar on March 15, 2023, at 2:00 p.m. EDT, featuring updates from the portfolio management team. Key topics will include the Fund's market outlook and details on a transferable rights offering. Investors can register for the webinar through the Fund's website. As an actively managed closed-end fund, IGR primarily invests at least 80% of its assets in income-producing global real estate equity securities, aiming for high current income and capital appreciation. Investors are reminded to review the Fund's prospectus for full investment details and risks.
The Board of Trustees of the CBRE Global Real Estate Income Fund (NYSE: IGR) has announced a rights offering for holders of its common shares as of March 9, 2023. The initiative allows shareholders to subscribe for additional common shares at a discount to market price. Factors influencing this decision include attractive valuations in global real estate stocks and anticipated growth opportunities. The offering aims to enhance total return and lower the Fund's expenses by increasing its asset base. The offer will be available from March 9, 2023, to April 6, 2023. Shareholders will also receive regular monthly distributions in the upcoming months.