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Neuberger Berman Realty Income Fund
Ticker Symbol: NRI* CUSIP: 64126G109 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/10/2008
Company's Online Profile
FUND DESCRIPTION: Neuberger Berman Realty Income Fund Inc. is an exchange-traded closed-end fund or a closed-end ETF which is officially described in its prospectus as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Fund's primary investment objective is high current income. Capital appreciation is a secondary investment objective. FUND STRATEGY: Under normal market conditions, the Fund will invest at least 90% of its total assets in income-producing common equity securities, preferred securities, securities convertible into equity securities and non-convertible debt securities issued by real estate companies (including real estate investment trusts (REITs)) and at least 75% of its total assets in income-producing equity securities of REITs. The Fund intends initially to invest approximately 70% to 80% of its total assets in common equity securities, and 20% to 30% of its total assets in preferred securities, issued by REITs and other real estate companies. FUND MANAGEMENT: Neuberger Berman Management Inc., a Lehman Brothers Co. (NYSE: LEH), is the Fund's Investment adviser and administrator.
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Notes: March 10, 2008 -- After the close of business on Friday, March 7, 2008, Neuberger Berman Realty Income Fund Inc. (NYSE: NRI) merged with and into Neuberger Berman Real Estate Securities Income Fund Inc. (AMEX: NRO). Friday’s net asset value
(NAV) per share of common stock for NRI was $14.3754 and for NRO was $10.2028. As the merger was based on relative NAV, this generated a merger conversion ratio that resulted in former NRI common stockholders receiving 1.409 shares of NRO common stock for each share of NRI common stock they previously held. Common stockholders will subsequently receive cash payments
in lieu of fractional shares not held in the Distribution Reinvestment Plan (DRIP). NRO’s monthly distribution remains $0.15308 per share.
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IPO - 4/28/2003 - 24.00 Million Shares @ $15.00/share.
Link to IPO Prospectus
Mid Cap Stock -
Market Value $509.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Address and Phone Numbers |
| Address: 605 Third Avenue, 2nd Floor, New York, NY 10158 |
| Main Phone Number |
212-476-9000 |
| Fax Number |
Not Available |
| Investor Contact
Institutional Services Desk
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877-461-1899
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| Toll Free Phone Number |
877-461-1899 |
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