ExchangeRight Income Fund 8-K

What Happened
ExchangeRight Income Fund filed an 8-K on June 24, 2026 reporting the status of its continuous private placement offering (up to $2.165 billion) and declaring dividends of $0.1449 per share on May 31, 2026 (paid or reinvested June 15, 2026). The report includes details of shares outstanding/issued by class as of May 31, 2026 and cumulative dividend reinvestment activity under its DRIP through that date.

Key Details

• Private placement target: up to $2.165 billion.
• Capital raised through May 31, 2026: $534,084,000 (about 24.7% of the $2.165B offering).
• Common shares (total, by category) as of May 31, 2026: Outstanding 16,635,036; Issued 19,516,557.
• No Class S or Class ER-S Common Shares have been issued in the Private Offering or under the DRIP as of May 31, 2026.
• May 31, 2026 dividend: $0.1449 per share, payable to holders of record after the close on May 31, 2026; paid or reinvested June 15, 2026.
• DRIP activity (inception through May 31, 2026): 448,309 shares issued totaling $12,103,000 reinvested; 10.6% of the aggregate May 31, 2026 declared dividends/distributions were elected for reinvestment.
• DRIP breakout: Class I — 229,951 shares / $6,207,000; Class A — 217,393 shares / $5,869,000; Class D — 965 shares / $27,000. (Includes specific reinvestment adjustments: 71,067 Class I shares ($1.9M) tied to OP unitholder & ER‑I distributions; 3,575 Class A shares ($97K) tied to ER‑A distributions.)

Why It Matters
This filing gives investors a snapshot of the Fund’s capital-raising progress and shareholder distribution policy. The Fund has raised $534.1M toward a $2.165B private offering (≈24.7%), which shows ongoing equity issuance that can dilute existing holders as the offering continues. The declared $0.1449/share dividend and a 10.6% DRIP election rate indicate continued distribution payments with a modest portion being reinvested by shareholders, adding about $12.1M of new equity since the DRIP began. The report also reiterates standard forward-looking statement cautions.