Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. (NRO)
Financial Services · ASE
Fundamentals
Valuation and ratings
Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. trades at USD3.06, close to the USD3.26 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 45 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 8.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
NRO dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.186 | 6 |
| 2025 | USD0.371 | 12 |
| 2024 | USD0.355 | 12 |
| 2023 | USD0.355 | 12 |
| 2022 | USD0.355 | 12 |
| 2021 | USD0.355 | 12 |
| 2020 | USD0.458 | 12 |
| 2019 | USD0.458 | 12 |
| 2018 | USD0.506 | 12 |
| 2017 | USD0.491 | 12 |
| 2016 | USD0.391 | 12 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc.
Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. is a closed-ended equity mutual fund launched and managed by Neuberger Berman LLC. It is co-managed by Neuberger Berman Management LLC. The fund invests in the public equity markets of the United States. It typically invests in stocks of companies operating in the real estate sector including real estate investment trusts. The fund invests in growth stocks of companies operating across all market capitalizations. It employs a fundamental analysis including direct real estate analysis, on-site real estate analysis, and frequent meetings with company management to make its investments. The fund benchmarks the performance of its portfolio against the NAREIT Equity Index and S&P 500 Index. Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. was formed on October 28, 2003 and is domiciled in the United States.
NRO passes 1 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. (NRO) undervalued?
Against our discounted cash flow estimate of USD3.26, NRO at USD3.06 is 7% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is NRO's P/E ratio?
NRO trades at 8.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. (NRO) pay a dividend?
Yes. Neuberger Berman Income Funds - Neuberger Real Estate Securities Income Fund Inc. yields 12.24% at the current share price. It has paid USD0.341 per share over the trailing twelve months. It has paid a dividend in each of the last 23 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.