LMP Real Estate Income Fund Inc. (NYSE:RIT) announces its portfolio composition as of June 30, 2014.
Investment Objectives: The Fund seeks high current income as a primary objective and capital appreciation as a secondary objective.
Portfolio Composition:* | ||||||
Common Stocks | 76.5% | |||||
Preferred Stocks | 22.7% | |||||
Cash | 0.8% | |||||
| Total Number of Common Stocks: | 39 | |||||
| Total Number of Preferred Stocks: | 20 | |||||
| Total Number of Securities: | 59 | |||||
| Total Number of Issuers: | 49 | |||||
Industry Allocations (%) | ||||||
Common | Preferred | Total | ||||
| Shopping centers | 12.1 | 4.8 | 16.9 | |||
| Regional malls | 10.1 | 3.6 | 13.7 | |||
| Office | 10.7 | 2.1 | 12.9 | |||
| Lodging/resorts | 4.5 | 5.9 | 10.4 | |||
| Healthcare | 10.3 | 0.0 | 10.3 | |||
| Diversified | 7.5 | 2.4 | 9.9 | |||
| Mixed office/industrial | 4.7 | 2.1 | 6.7 | |||
| Mortgage | 6.6 | 0.0 | 6.6 | |||
| Apartments | 6.2 | 0.0 | 6.2 | |||
| Freestanding retail/net lease | 2.3 | 1.9 | 4.2 | |||
| Industrial | 1.6 | 0.0 | 1.6 | |||
| Cash | 0.0 | 0.0 | 0.8 | |||
| 76.5 | 22.7 | 100.0 | ||||
Top 10 Holdings (%) | ||||||
| Macerich Co | 4.4% | |||||
| Starwood Property Trust Inc | 3.9% | |||||
| Liberty Property Trust | 3.5% | |||||
| Kilroy Realty Corp | 3.4% | |||||
| EPR Properties | 3.3% | |||||
| Simon Property Group | 2.8% | |||||
| Inland Real Estate Corp | 2.7% | |||||
| Hospitality Properties Trust | 2.7% | |||||
| Regency Centers Corp. | 2.6% | |||||
| HCP Inc | 2.5% | |||||
Portfolio Statistics: | ||||||
Inception Date | July 31, 2002 | |||||
Inception Price | $15.00 | |||||
Total Assets** | $191,116,929 | |||||
Net Assets | $153,833,533 | |||||
Loans*** | 19.36% | |||||
Preferred Shares*** | 0.00% | |||||
Reverse Repos*** | 0.00% | |||||
Market Price: | $11.51 | |||||
NAV | $13.45 | |||||
(Daily NAV is available on market quotation systems using the symbol XRITX.) | ||||||
Distribution Rate**** | $ 0.0600 per share | |||||
Frequency | Monthly (declared quarterly, paid monthly) | |||||
* Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time.
** The difference between total assets and net assets, if any, is due primarily to the Fund’s use of borrowings; net assets do not include borrowings. The Fund may employ leverage in the form of loans, preferred stock, reverse repurchase agreements and/or other instruments. When the Fund engages in transactions that have a leveraging effect on the Fund’s portfolio, the value of the Fund will be more volatile and all other risks will tend to be compounded.
*** Percentages are based on total assets.
**** Pursuant to its managed distribution policy, the Fund intends to make regular monthly distributions to shareholders of its common stock at a fixed rate per common share, which may be adjusted from time to time by the Fund's Board of Directors. Under the Fund's managed distribution policy, if, for any monthly distribution, the total of net investment income and net realized capital gain is less than the amount of the distribution, the difference will be distributed from the Fund's assets (and will constitute a "return of capital"). The Board of Directors may terminate the managed distribution policy at any time, including when certain events would make part of any return of capital taxable to shareholders. Any such termination could have an adverse effect on the market price for the Fund's shares.
LMP Real Estate Income Fund Inc. is a non-diversified, closed-end management investment company which is advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and, effective September 1, 2012, subadvised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are wholly owned subsidiaries of Legg Mason, Inc.
An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.
For more information, please call Investor Relations: 888-777-0102, or consult the Fund’s web site at http://www.lmcef.com.
FN1112220
Contacts:
Maria Rosati, 1-212-805-6036
mrosati@leggmason.com
