LMP Real Estate Income Fund
RIT
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- IPO Date
- Jul 29, 2002
- CIK
- 0001664780
- Similar Companies
- Business
- LMP Real Estate Income Fund Inc. (NYSE: RIT) is a non-diversified, closed-end management investment company focused on the real estate sector. The Fund invests primarily in securities related to the real estate industry, including equity securities of real estate investment trusts (REITs), real estate operating companies, and other real estate-related issuers; fixed-income securities such as mortgage-backed securities, commercial mortgage-backed securities, and other debt obligations backed by or related to real estate assets; and derivatives for hedging or income enhancement purposes. It seeks high current income with potential for capital appreciation, allocating across U.S. real estate market segments such as residential, commercial, office, retail, industrial, and healthcare properties, targeting institutional and retail investors seeking real estate exposure without direct property ownership. Launched and managed by Legg Mason Partners Fund Advisor, LLC ("LMP Advisors"), with sub-advisory from ClearBridge Investments, LLC for equity sleeve and Western Asset Management Company for fixed income, the Fund was formed in 2003 and is headquartered at 620 Eighth Avenue, 49th Floor, New York, New York 10018. Its portfolio emphasizes income generation through dividends from REIT equities and interest from real estate debt, with opportunistic exposure to global real estate securities where permitted, operating primarily in U.S. markets but with flexibility for international holdings. In recent developments, the Fund announced in September 2015 its Board of Directors' intention to convert from a closed-end to an open-end structure through a merger with ClearBridge Real Estate Opportunities Fund, a proposed open-end vehicle, following earlier approval in October 2015 of a related open-ending plan; stockholder meetings were held to approve the merger proposal. These strategic shifts aimed to enhance liquidity and align with investor preferences amid evolving closed-end fund dynamics, though execution details post-2016 remain tied to regulatory and shareholder approvals; no major funding rounds, acquisitions, or new product launches have been reported in the last 1-2 years, with focus sustained on portfolio composition and income objectives.