CBRE Global Real Estate Income Fund Shares Fall Below Key Average

Shares of the CBRE Global Real Estate Income Fund (NYSE: IGR) fell below their 50-day moving average during trading on Thursday, marking a significant moment for investors. The stock, which has a 50-day moving average of $4.57, dropped to as low as $4.36 before closing at $4.39. The trading volume reached 2,051,842 shares.

The decline represents a 0.2% decrease in the stock’s value. The fund’s 200-day moving average stands at $4.89, indicating a longer-term trend that may concern some investors.

Dividend Announcement and Investor Activity

In addition to the stock’s performance, the CBRE Global Real Estate Income Fund declared a monthly dividend of $0.06 per share, which was paid on December 31, 2023. This dividend reflects an annualized yield of 16.4%. The ex-dividend date was set for December 19, 2023, with dividends distributed to investors on record as of that date.

Recent activity among institutional investors also highlights fluctuating confidence in the fund. For instance, Ieq Capital LLC acquired a new stake valued at $111,000 in the first quarter. Meanwhile, Baird Financial Group Inc. increased its holdings by 82.0%, now owning 66,452 shares valued at approximately $343,000 after adding 29,941 shares in the last quarter.

Additionally, Royal Bank of Canada boosted its position by 17.9%, bringing its total to 365,245 shares worth about $1,885,000. Other notable movements include Geneos Wealth Management Inc., which increased its stake by an impressive 558.4% during the same period.

About the CBRE Global Real Estate Income Fund

The CBRE Global Real Estate Income Fund Inc is a closed-end management investment company that focuses on providing attractive levels of current income and capital appreciation through investments in global real estate securities. Managed by CBRE Investment Management, the fund’s portfolio primarily includes publicly traded real estate investment trusts (REITs), real estate operating companies, and other related equity securities from both developed and emerging markets.

Employing a research-driven, bottom-up investment strategy, the fund leverages CBRE’s extensive global platform and market intelligence to identify investment opportunities across various property sectors, including office, retail, industrial, residential, and hospitality.

As the market continues to evolve, investors will be watching closely to see how the fund’s performance develops in the coming weeks.