NAV per share remained essentially flat month-over-month, indicating stable property valuations despite portfolio turnover. Monitor next month's NAV for any cap rate or discount rate shifts that could signal valuation changes in the office-heavy portfolio (weighted-average exit cap 6.96%, discount rate 8.39%).
Price Chart
Executive Summary
Hines Global Income Trust filed an 8-K to update its September 30, 2026 NAV per share, which was essentially flat at $9.82 versus $9.83 in August. The portfolio grew to 59 properties (94% leased, 27.0M sq ft) with 33% leverage, and the board declared October 2026 distributions of $0.052 per share across all classes. The filing is a routine monthly NAV update with no material change in per-share value.
Key Facts
- NAV per share as of September 30, 2026 was $9.82, essentially unchanged from $9.83 in August 2026.
- Total NAV was $3.358 billion as of September 30, 2026, up from $3.346 billion in August 2026.
- Real estate investments increased to $7.293 billion from $6.887 billion, driven by acquisition of seven assets and disposition of four assets.
- Debt and other liabilities rose to $4.383 billion from $4.014 billion, increasing leverage to 33%.
- Portfolio consists of 59 properties, 94% leased, with 27.0 million square feet of leasable space.
- October 2026 gross distribution declared at $0.052 per share for all classes; net distributions range from $0.044 (Class T) to $0.052 (Class I/AX).
- Shares and OP Units outstanding increased to 341,970 from 340,479.
- Altus Group U.S. Inc. reviewed and concurred with the NAV calculation.
Financial Impact
NAV per share flat at $9.82; total NAV increased by ~$12.7 million; portfolio gross asset value increased ~$406 million; debt increased ~$368 million; no material per-share impact.
Risk Factors
- Office portfolio (weighted-average exit cap 6.96%, discount rate 8.39%) is most sensitive to cap rate changes; a 0.25% increase would reduce office property values by ~2.11%.
- Debt increased to $4.383 billion, raising leverage to 33%; higher interest costs could pressure future distributions.
- Some cash distributions may be paid from sources other than operations, raising sustainability questions.
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-066113 |
| Exhibit: ex992consentofaltusnavs-3.htm | 0001628280-26-066113 |
| Document: 0001628280-26-066113-index-headers.html | 0001628280-26-066113 |
| Document: 0001628280-26-066113-index.html | 0001628280-26-066113 |
| Document: 0001628280-26-066113.txt | 0001628280-26-066113 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | 8-K | — | awaiting T+20 | — | — |
Oct 16, 2026 11d ago | 8-K | — | awaiting T+20 | — | — |
Oct 6, 2026 21d ago | 8-K | — | awaiting T+20 | — | — |
Oct 2, 2026 25d ago | 8-K | — | awaiting T+20 | — | — |
Sep 16, 2026 5w ago | 8-K | — | awaiting T+20 | — | — |
Aug 17, 2026 10w ago | 8-K | — | awaiting T+20 | — | — |
Jul 21, 2026 14w ago | 8-K | — | awaiting T+20 | — | — |
Jul 17, 2026 14w ago | 8-K | — | awaiting T+20 | — | — |
Jul 13, 2026 15w ago | 8-K | — | awaiting T+20 | — | — |
Jun 15, 2026 19w ago | 8-K | — | awaiting T+20 | — | — |
US Market Status
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