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Nuveen Real Estate Income Fund (AMEX: JRS)
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The fund's investment objective is high current income and capital appreciation.
The fund invests at least 90% of its total assets in income producing common stocks, preferred stocks, convertible preferred stocks and debt securities issued by real estate companies; at least 80% of its total assets in income producing equity securities issued by REITs; and will not invest more than 25% of its total assets in non-investment grade preferred stocks, convertible preferred stocks and debt securities. The fund uses leverage.
| Current Distribution (Quarterly) (As of 10/1/2010) | $0.2200 |
| Monthly Equivalent Distribution | $0.0733 |
| Avg. Earnings/Share** ( As of 7/31/2010) | $0.0367 |
| Annualized 1 Year Total Return on NAV (As of 8/31/2010) | 42.21% |
| Annualized Distribution Rate on NAV †† | 9.25% |
| Annualized Since Inception Total Return on NAV (As of 8/31/2010) | 4.92% |
| Total % of Portfolio Leveraged (As of 7/30/2010) | 19.73% |
| Average Cost of Leverage(13 weeks) (As of 7/30/2010) | 1.56% |
Potential for enhanced portfolio returns and reduced portfolio risk through the use of commercial real estate investments.
- High current income potential
- Opportunity for capital growth
- Portfolio management by one of the leading names in real estate investing
| Closing Share Price (As of 9/1/2010) | $9.52 |
| Closing NAV per Share (As of 9/1/2010) | $9.51 |
| Premium / Discount | 0.07% |
| Current Distribution Rate (Market price)†† | 9.25% |
| Distribution Amount (Quarterly) | $0.2200 |
| Total Managed Assets | $328,032,516 |
| Common Shares | |
|---|---|
| Total Common Net Assets | $263,322,516 |
| Shares Outstanding | 28,486,586 |
| Avg Daily Volume (in shares) | 77,657 |
| Dollar | Percent | |
|---|---|---|
| Total Structural Leverage | $64,710,000 | 19.73% |
| Effective Leverage | $64,710,000 | 19.73% |
| Asset Coverage 1 | More Information |
| CUSIP | 67071B108 |
| NAV Ticker | XJRSX |
| Inception Date | 11/15/2001 |
| Inception NAV | $14.33 |
| Inception Share Price | $15.00 |
| # of Holdings | 46 |
| % Large, Mid, Small Cap † | 53.8%,39.1%,7.1% |
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Share Price | 20.10% | 87.05% | -62.13% | -38.06% | 54.54% | 4.75% | 19.79% | 34.17% | 8.14% | -- |
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NAV | 19.96% | 46.80% | -55.79% | -29.30% | 27.88% | 7.42% | 30.12% | 42.69% | 6.18% | -- |
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Share Price | 36.85% | -13.18% | -3.07% | -- | 4.94% |
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NAV | 42.21% | -14.69% | -6.47% | -- | 4.92% |
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| Founded in 1995, Security Capital Research & Management Incorporated (SC-R&M), a leading real estate investment management company, dedicated exclusively to the real estate industry, sub-advises the REITs portion of the Nuveen Funds. The Security Capital record reflects a rigorous investment process directed by an experienced team of investment professionals. This team has been managing their in vestment process virtually since the firm’s inception. Their process provides a strong foundation for our conviction- oriented investment style by integrating important research perspectives on real estate markets, company cash flow potential and equity market pricing trends together with unique execution capabilities in the open market and in the structuring, negotiation and closing of private placement securities. |
| Total Fund | Common Shares | |
|---|---|---|
| Management Fees | 0.77% | 0.97% |
| Interest Expenses | 0.29% | 0.36% |
| Other Expenses | 0.04% | 0.05% |
| Total | 1.10% | 1.38% |
| Issuer | Dollar Value | % of Total Portfolio |
|---|---|---|
| Simon Property Grou: Equity | $17,116,497 | 5.64% |
| Apartment Investmen: Debt | $16,003,638 | 5.26% |
| Public Storage Inco: Equity | $14,751,298 | 4.84% |
| Health Care Propert: Equity | $14,615,700 | 4.80% |
| Hospitality Propert: Debt | $13,472,550 | 4.42% |
| Equity Residential: Equity | $13,420,572 | 4.41% |
| Boston Properties I: Equity | $13,297,776 | 4.37% |
| Highwoods Propertie: Debt | $11,939,156 | 3.92% |
| Essex Property Trus: Equity | $10,085,636 | 3.31% |
| AvalonBay Communiti: Equity | $9,910,105 | 3.25% |
Data shown represents past performance and is no guarantee of future results. Market price and net asset value (NAV) of a Fund's shares will fluctuate with market conditions. Current performance may be higher or lower than the performance shown.
1 The ratio of a fund's total managed assets to the sum of (the fund's outstanding preferred shares, at par, plus its outstanding borrowings).
¶ Holdings and their ratings may change over time. Ratings shown are generally the highest rating given by one or more national rating agencies. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. Holdings designated “NR” are not rated by a national rating agency, and may be assigned an internal rating by the fund’s investment adviser.
* For the 37.51% of the portfolio invested in debt securities.
**The average earnings per share and UNII figures are monthly amounts based on three month averages for the municipal funds and senior loan funds and six month averages for all other taxable funds. For JRS and 25% of JDD, the average earnings per share represents net REIT cash flow which may consist of income, capital gains and/or a return of capital.
† Percentage are relative to the 62.48% of the portfolio invested in equity securities.
†† Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent daily market price and NAV.
Total return is determined by subtracting the initial investment from the redeemable value of the investment at the end of the investment period, dividing the remainder by the initial investment and expressing the result as a percentage. The calculation assumes that all fund distributions have been reinvested.
