Hartman Short Term Income Properties XX Reduces Distribution, Updates NAV
February 1, 2021 | James Sprow | Blue Vault
On January 26, 2021, the board of directors of Hartman Short Term Income Properties XX, Inc. ratified the reduction of the Company’s monthly distribution for common shareholders and OP unit holders of record as of November 30, 2020, from $0.05833 to $0.02917 per common share and OP unit. Such distribution has been paid as of January 27, 2021.
The board of directors approved the monthly distribution of $0.02917 per common share and OP unit for common shareholders and OP unit holders of record as of December 31, 2020, January 31, 2021, February 28, 2021, and March 31, 2021. Such distributions will be paid on or about February 10, 2021, March 10, 2021, April 10, 2021, and May 10, 2021.
The reduction in the monthly distribution reduces the annualized distribution yield based upon the original $10.00 offering price from 7.00% to 3.50%.
Estimated NAV Per Share
On January 26, 2021, the REIT’s board of directors, including all the independent directors, determined an estimated net asset value (“NAV”) per share of the common stock of $11.18 per share as of December 31, 2020. The previous estimated NAV per share was $11.26 as of December 31, 2019.
Sources: SEC, Blue Vault
