N-Q 1 formnq.htm N-Q Document






UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-22260
______________________________________________

RMR REAL ESTATE INCOME FUND
______________________________________________________________________________
(Exact name of registrant as specified in charter)

Two Newton Place, 255 Washington Street, Suite 300
Newton, Massachusetts 02458
______________________________________________________________________________
(Address of principal executive offices)(Zip code)

Fernando Diaz, President
RMR Real Estate Income Fund
Two Newton Place, 255 Washington Street, Suite 300
Newton, Massachusetts 02458
______________________________________________________________________________
(Name and address of agent for service)

Copy to:

Brian Hall
State Street Bank and Trust Company
1 Iron Street, 10th Floor
Boston, Massachusetts 02210

Karen Jacoppo-Wood, Esq.
State Street Bank and Trust Company
One Lincoln Street, Boston, Massachusetts 02111

Registrant’s telephone number, including area code: (617) 332-9530

Date of fiscal year end: December 31, 2019
Date of reporting period: September 30, 2019
 



RMR Real Estate Income Fund
Portfolio of Investments - September 30, 2019 (unaudited)

Company
Shares

 
Value

COMMON STOCKS - 110.4%
 
 
 
REAL ESTATE INVESTMENT TRUSTS - 110.4%
 
 
 
DATA CENTERS - 5.3%
 
 
 
CyrusOne, Inc. (a)
68,000

 
$
5,378,800

Digital Realty Trust, Inc. (a)(b)
42,000

 
5,452,020

Equinix, Inc.
3,502

 
2,019,954

QTS Realty Trust, Inc.
15,000

 
771,150

 
 
 
13,621,924

DIVERSIFIED - 8.1%
 
 
 
Armada Hoffler Properties, Inc. (a)
154,953

 
2,803,100

Colony Capital, Inc. (a)
104,980

 
631,980

Gladstone Commercial Corp. (a)(b)
88,611

 
2,082,359

Global Net Lease, Inc.
112,082

 
2,185,599

Lexington Realty Trust (a)
513,638

 
5,264,790

One Liberty Properties, Inc.
29,295

 
806,491

VEREIT, Inc. (a)
283,716

 
2,774,742

Vornado Realty Trust (a)(b)
39,835

 
2,536,294

Whitestone REIT (a)
124,535

 
1,713,602

 
 
 
20,798,957

FREE STANDING - 6.6%
 
 
 
Agree Realty Corp. (a)
19,309

 
1,412,453

Essential Properties Realty Trust, Inc.
25,000

 
572,750

National Retail Properties, Inc. (a)(b)
136,600

 
7,704,240

Realty Income Corp. (a)
64,900

 
4,976,532

Spirit Realty Capital, Inc.
19,240

 
920,826

STORE Capital Corp.
40,000

 
1,496,400

 
 
 
17,083,201

HEALTH CARE - 17.0%
 
 
 
Global Medical REIT, Inc. (a)
495,467

 
5,648,324

HCP, Inc. (a)(b)
113,965

 
4,060,573

Healthcare Realty Trust, Inc. (a)(b)
38,697

 
1,296,350

Healthcare Trust of America, Inc.
48,000

 
1,410,240

LTC Properties, Inc. (a)
75,021

 
3,842,576

Medical Properties Trust, Inc. (a)(b)
413,609

 
8,090,192

New Senior Investment Group, Inc.
104,121

 
695,528

Omega Healthcare Investors, Inc. (a)(b)
66,298

 
2,770,593

Physicians Realty Trust (a)
179,791

 
3,191,290

Sabra Health Care REIT, Inc. (a)(b)
113,154

 
2,598,016

Ventas, Inc. (a)
98,200

 
7,171,546

Welltower, Inc. (a)(b)
34,200

 
3,100,230

 
 
 
43,875,458

INDUSTRIAL - 11.9%
 
 
 
Americold Realty Trust
30,000

 
1,112,100

Duke Realty Corp.
34,370

 
1,167,549

Liberty Property Trust (a)
84,637

 
4,344,417


See notes to portfolio of investments
RMR Real Estate Income Fund
Portfolio of Investments - September 30, 2019 (unaudited) (continued)


Company
Shares

 
Value

Monmouth Real Estate Investment Corp. (a)(b)
178,358

 
$
2,570,139

Plymouth Industrial REIT, Inc.
172,697

 
3,163,809

Prologis, Inc. (a)
114,807

 
9,783,853

Rexford Industrial Realty, Inc. (a)
39,176

 
1,724,528

STAG Industrial, Inc. (a)
231,693

 
6,830,310

 
 
 
30,696,705

LODGING - 5.8%
 
 
 
Apple Hospitality REIT, Inc. (a)
71,400

 
1,183,812

Ashford Hospitality Trust, Inc. (a)
105,000

 
347,550

Braemar Hotels & Resorts, Inc. (a)
111,762

 
1,049,445

Chatham Lodging Trust (a)
97,000

 
1,760,550

Condor Hospitality Trust, Inc.
59,420

 
656,591

DiamondRock Hospitality Co. (a)
60,603

 
621,181

Hersha Hospitality Trust (a)
132,475

 
1,971,228

Host Hotels & Resorts, Inc. (a)
67,000

 
1,158,430

Park Hotels & Resorts, Inc.
58,853

 
1,469,559

Pebblebrook Hotel Trust (a)
90,480

 
2,517,154

RLJ Lodging Trust (a)
88,688

 
1,506,809

Summit Hotel Properties, Inc. (a)(b)
63,203

 
733,155

 
 
 
14,975,464

MANUFACTURED HOMES - 5.0%
 
 
 
Sun Communities, Inc. (a)
67,856

 
10,073,223

UMH Properties, Inc. (a)(b)
195,796

 
2,756,808

 
 
 
12,830,031

MORTGAGE - 2.5%
 
 
 
Annaly Capital Management, Inc. (a)
319,998

 
2,815,982

Jernigan Capital, Inc. (a)
30,140

 
580,195

Starwood Property Trust, Inc.
129,100

 
3,126,802

 
 
 
6,522,979

OFFICE - 11.4%
 
 
 
Alexandria Real Estate Equities, Inc. (a)
39,300

 
6,053,772

Boston Properties, Inc. (a)
27,100

 
3,513,786

Brandywine Realty Trust (a)
165,300

 
2,504,295

City Office REIT, Inc. (a)
144,253

 
2,075,801

Corporate Office Properties Trust (a)
83,500

 
2,486,630

Douglas Emmett, Inc. (a)
51,322

 
2,198,121

Franklin Street Properties Corp. (a)(b)
76,269

 
645,236

Highwoods Properties, Inc. (a)(b)
49,723

 
2,234,552

Hudson Pacific Properties, Inc.
26,000

 
869,960

Kilroy Realty Corp. (a)
35,600

 
2,772,884

Mack-Cali Realty Corp. (a)
78,030

 
1,690,130

SL Green Realty Corp. (a)
27,900

 
2,280,825

 
 
 
29,325,992

REGIONAL MALLS - 4.9%
 
 
 
CBL & Associates Properties, Inc. (a)(b)
528,694

 
682,015


See notes to portfolio of investments
RMR Real Estate Income Fund
Portfolio of Investments - September 30, 2019 (unaudited) (continued)


Company
Shares

 
Value

Pennsylvania Real Estate Investment Trust (a)(b)
203,491

 
$
1,163,969

Simon Property Group, Inc. (a)(b)
47,527

 
7,397,578

Taubman Centers, Inc.
10,000

 
408,300

The Macerich Co. (a)(b)
46,970

 
1,483,782

Washington Prime Group, Inc. (a)(b)
331,148

 
1,370,953

 
 
 
12,506,597

RESIDENTIAL - 17.0%
 
 
 
Apartment Investment & Management Co. (a)(b)
25,451

 
1,327,015

AvalonBay Communities, Inc. (a)
34,375

 
7,401,969

Bluerock Residential Growth REIT, Inc. (a)
405,557

 
4,773,406

Camden Property Trust (a)
11,300

 
1,254,413

Equity Residential (a)
69,000

 
5,951,940

Essex Property Trust, Inc. (a)
16,500

 
5,389,725

Independence Realty Trust, Inc. (a)
489,429

 
7,003,729

Investors Real Estate Trust
6,281

 
469,002

Invitation Homes, Inc. (a)
50,000

 
1,480,500

Mid-America Apartment Communities, Inc. (a)
29,671

 
3,857,527

NexPoint Residential Trust, Inc.
21,102

 
986,730

Preferred Apartment Communities, Inc.
56,479

 
816,122

UDR, Inc. (a)
62,000

 
3,005,760

 
 
 
43,717,838

SHOPPING CENTERS - 5.6%
 
 
 
Acadia Realty Trust (a)
30,000

 
857,400

Brixmor Property Group, Inc. (a)
37,775

 
766,455

Cedar Realty Trust, Inc. (a)
103,627

 
310,881

Kimco Realty Corp. (a)
197,226

 
4,118,079

Kite Realty Group Trust (a)
125,125

 
2,020,769

Retail Opportunity Investments Corp.
35,000

 
638,050

RPT Realty
82,220

 
1,114,081

SITE Centers Corp.
68,500

 
1,035,035

Urstadt Biddle Properties, Inc.
40,500

 
959,850

Weingarten Realty Investors (a)
91,225

 
2,657,384

 
 
 
14,477,984

SPECIALTY - 6.4%
 
 
 
American Tower Corp.
13,791

 
3,049,604

Crown Castle International Corp. (a)
14,000

 
1,946,140

EPR Properties (a)
114,660

 
8,812,768

Farmland Partners, Inc. (a)
109,344

 
730,418

Gladstone Land Corp.
35,000

 
416,325

Iron Mountain, Inc.
30,000

 
971,700

VICI Properties, Inc.
29,600

 
670,440

 
 
 
16,597,395

STORAGE - 2.9%
 
 
 
CubeSmart (a)
40,000

 
1,396,000

Extra Space Storage, Inc. (a)
7,910

 
924,046


See notes to portfolio of investments
RMR Real Estate Income Fund
Portfolio of Investments - September 30, 2019 (unaudited) (continued)


Company
Shares

 
Value

Life Storage, Inc. (a)
12,000

 
$
1,264,920

Public Storage (a)(b)
15,700

 
3,850,739

 
 
 
7,435,705

Total Real Estate Investment Trusts (Cost $214,252,265)
 
 
284,466,230

Total Common Stocks ( Cost $214,252,265)
 
 
284,466,230

PREFERRED STOCKS - 25.8%
 
 
 
REAL ESTATE INVESTMENT TRUSTS - 25.8%
 
 
 
DATA CENTERS - 0.7%
 
 
 
Digital Realty Trust, Inc., Series C, 6.63%
35,000

 
932,050

Digital Realty Trust, Inc., Series G, 5.88%
30,000

 
755,400

 
 
 
1,687,450

DIVERSIFIED - 2.0%
 
 
 
Colony Capital, Inc., Series B, 8.25%
9,609

 
242,723

Colony Capital, Inc., Series E, 8.75%
36,999

 
935,705

Gladstone Commercial Corp., Series D, 7.00% (a)(b)
100,000

 
2,581,000

Global Net Lease, Inc., Series A, 7.25%
55,000

 
1,408,000

 
 
 
5,167,428

HEALTH CARE - 0.5%
 
 
 
Global Medical REIT, Inc., Series A, 7.50%
44,000

 
1,169,700

 
 
 
1,169,700

INDUSTRIAL - 1.7%
 
 
 
Plymouth Industrial REIT, Inc., Series A, 7.50%
70,000

 
1,834,000

Rexford Industrial Realty, Inc., Series B, 5.88% (a)(b)
40,000

 
1,034,000

STAG Industrial, Inc., Series C, 6.88% (a)(b)
55,000

 
1,436,600

 
 
 
4,304,600

LODGING - 8.4%
 
 
 
Ashford Hospitality Trust, Inc., Series D, 8.45% (a)
39,304

 
963,294

Ashford Hospitality Trust, Inc., Series F, 7.38% (a)
74,565

 
1,640,430

Ashford Hospitality Trust, Inc., Series G, 7.38% (a)
250,000

 
5,340,000

Ashford Hospitality Trust, Inc., Series H, 7.50% (a)
60,000

 
1,293,000

Ashford Hospitality Trust, Inc., Series I, 7.50% (a)
68,084

 
1,433,168

Braemar Hotels & Resorts, Inc., Series B, 5.50% (a)
25,000

 
521,500

Hersha Hospitality Trust, Series C, 6.88% (a)
46,000

 
1,170,240

Hersha Hospitality Trust, Series D, 6.50% (a)
70,000

 
1,732,500

Hersha Hospitality Trust, Series E, 6.50% (a)
35,958

 
913,333

Pebblebrook Hotel Trust, Series C, 6.50% (a)
78,684

 
2,033,195

RLJ Lodging Trust, Series A, 1.95% (a) (c)
96,117

 
2,594,198

Sotherly Hotels, Inc., Series C, 7.88% (a)
40,000

 
1,040,000

Summit Hotel Properties, Inc., Series E, 6.25% (a)(b)
33,200

 
888,432

 
 
 
21,563,290

MANUFACTURED HOMES - 1.5%
 
 
 
UMH Properties, Inc., Series B, 8.00% (a)(b)
66,650

 
1,732,900

UMH Properties, Inc., Series C, 6.75% (a)
30,000

 
783,900

UMH Properties, Inc., Series D, 6.38% (a)(b)
49,105

 
1,246,481

 
 
 
3,763,281


See notes to portfolio of investments
RMR Real Estate Income Fund
Portfolio of Investments - September 30, 2019 (unaudited) (continued)


Company
Shares

 
Value

MORTGAGE - 1.5%
 
 
 
Annaly Capital Management, Inc., Series G, 6.50%
40,000

 
$
1,001,600

ARMOUR Residential REIT, Inc., Series B, 7.88% (a)
30,000

 
751,500

iStar, Inc., Series D, 8.00%
11,810

 
308,713

iStar, Inc., Series G, 7.65%
21,241

 
541,618

New York Mortgage Trust, Inc., Series B, 7.75%
33,450

 
841,937

New York Mortgage Trust, Inc., Series D, 8.00%
20,000

 
498,200

 
 
 
3,943,568

FREE STANDING - 0.8%
 
 
 
Seritage Growth Properties, Series A, 7.00% (a)
80,000

 
2,014,400

 
 
 
2,014,400

OFFICE - 0.4%
 
 
 
SL Green Realty Corp., Series I, 6.50% (a)
40,000

 
1,039,600

 
 
 
1,039,600

REGIONAL MALLS - 1.9%
 
 
 
CBL & Associates Properties, Inc., Series D, 7.38% (a)
132,461

 
1,140,489

CBL & Associates Properties, Inc., Series E, 6.63%
25,000

 
214,000

Pennsylvania Real Estate Investment Trust, Series B, 7.38% (a)
40,000

 
828,000

Pennsylvania Real Estate Investment Trust, Series D, 6.88%
35,000

 
709,100

Washington Prime Group, Inc., Series H, 7.50% (a)
65,000

 
1,428,700

Washington Prime Group, Inc., Series I, 6.88% (a)
30,000

 
610,500

 
 
 
4,930,789

RESIDENTIAL - 2.8%
 
 
 
Armada Hoffler Properties Inc., Series A, 6.75%
35,000

 
943,250

Bluerock Residential Growth REIT, Inc., Series A, 8.25% (a)
180,000

 
4,773,600

Bluerock Residential Growth REIT, Inc., Series C, 7.63% (a)
37,645

 
985,170

Bluerock Residential Growth REIT, Inc., Series D, 7.13%
17,300

 
434,673

 
 
 
7,136,693

SHOPPING CENTERS - 3.1%
 
 
 
Cedar Realty Trust, Inc., Series B, 7.25%
24,258

 
605,237

Cedar Realty Trust, Inc., Series C, 6.50% (a)(b)
100,307

 
2,212,772

Saul Centers, Inc., Series D, 6.13% (a)
25,000

 
647,625

SITE Centers Corp., Series J, 6.50% (a)
45,586

 
1,151,047

SITE Centers Corp., Series K, 6.25% (a)
86,000

 
2,250,620

Wheeler Real Estate Investment Trust, Inc., Series D, 8.75% (a)(b)(c)
71,354

 
1,011,800

 
 
 
7,879,101

SPECIALTY - 0.5%
 
 
 
CorEnergy Infrastructure Trust, Inc., Series A, 7.38%
24,800

 
648,520

EPR Properties, Series E, 9.00% (a)(c)
16,400

 
636,320

 
 
 
1,284,840

Total Real Estate Investment Trusts (Cost $66,590,033)
 
 
65,884,740

Total Preferred Stocks (Cost $66,590,033)
 
 
65,884,740

INVESTMENT COMPANIES - 2.3%
 
 
 
Aberdeen Global Premier Properties Fund (a)
196,826

 
1,224,258

Blackstone/GSO Loan Financing Ltd (d)
5,496,600

 
2,995,510


See notes to portfolio of investments
RMR Real Estate Income Fund
Portfolio of Investments - September 30, 2019 (unaudited) (continued)


Company
Shares

 
Value

Cohen & Steers Quality Income Realty Fund, Inc. (a)
70,297

 
$
1,114,207

Eaton Vance Enhanced Equity Income Fund II
35,188

 
585,880

Total Investment Companies ( Cost $9,804,837)
 
 
5,919,855

SHORT-TERM INVESTMENTS - 1.9%
 
 
 
MONEY MARKET FUNDS - 1.9%
 
 
 
State Street Institutional U.S. Government Money Market Fund, 1.88% (Cost $4,883,142) (e)
 
 
4,883,142

Total Investments - 140.4% (Cost $295,530,277)
 
 
361,153,967

Other assets less liabilities -0.3%
 
 
889,278

Revolving credit facility -(34.2%)
 
 
(88,000,000
)
Preferred Shares, at liquidation preference -(6.5%)
 
 
(16,675,000
)
Net Assets applicable to common shareholders – 100.0%
 
 
$
257,368,245


Notes
a.
As of September 30, 2019, the Fund has pledged portfolio securities with a market value of $204,164,483 as collateral in connection with its revolving credit facility with BNP Paribas Prime Brokerage International Ltd. ("PBL"). Those pledged securities comprised all or a portion of the shares noted by this footnote (a).
b.
As of September 30, 2019, pledged portfolio securities of the Fund with a market value of $62,465,341 (see Note (a)) have been rehypothecated by PBL as permitted by the Fund's revolving credit facility. Those rehypothecated securities comprised all or a portion of the securities noted by this footnote (b).
c.
Convertible into common stock.
d.
The security is listed on the London Stock Exchange as of September 30, 2019.
e.
Rate reflects 7 day yield as of September 30, 2019.


See notes to portfolio of investments
RMR Real Estate Income Fund
Notes to Portfolio of Investments
September 30, 2019 (unaudited)


1. Portfolio Valuation
Investment securities of RMR Real Estate Income Fund, (the "Fund"), are valued as of the close of trading at the latest sales price whenever that price is readily available on that day; securities for which no sales were reported on that day, unless otherwise noted, are valued at the average of the closing bid and ask prices on that day. Securities traded primarily on The Nasdaq Stock Market, or Nasdaq, are normally valued by the Fund at the Nasdaq Official Closing Price, or NOCP, provided by Nasdaq each business day. The NOCP is the most recently reported price as of 4:00:02 p.m., eastern time, unless that price is outside the range of the ‘‘inside’’ bid and asked prices (i.e., the bid and asked prices that dealers quote to each other when trading for their own accounts); in that case, Nasdaq will adjust the price to equal the inside bid or asked price, whichever is closer to the most recently reported price as of 4:00:02 p.m., eastern time, that day. Some fixed income securities may be valued using values provided by a pricing service.
To the extent the Fund holds foreign securities in its portfolio, those are valued at the latest sales price reflected on the consolidated tape of the exchange that reflects the principal market for such securities whenever that price is readily available on that day; securities for which no sales were reported on that day, unless otherwise noted, are valued at the average of the closing bid and ask prices on that day. Some foreign markets close before the close of customary trading sessions on the New York Stock Exchange, or NYSE (usually 4:00 p.m. eastern time). Often, events occur after the principal foreign exchange on which foreign securities trade has closed, but before the NYSE closes, that the Fund determines could affect the value of the foreign securities the Fund owns or cause their earlier trading prices to be unreliable as a basis for determining value. If these events are expected to affect the Fund’s net asset value, or NAV, the prices of such securities are adjusted to reflect their estimated fair value as of the close of the NYSE, as determined in good faith under procedures established by the Fund’s board of trustees.
Any of the Fund’s securities which are not readily marketable, which are not traded or which have other characteristics of illiquidity are valued by the Fund at fair value as determined in good faith under procedures established by the Fund’s board of trustees.
Numerous factors may be considered when determining fair value of a security, including cost at date of purchase, type of security, the nature and duration of restrictions on disposition of the security and whether the issuer of the security being fair valued has other securities of the same type outstanding. See Note 2 for a further description of fair value measurements.
Investments in open end mutual funds are valued at the closed NAV on valuation date.
2. Fair Value Measurements
The Fund reports the value of its securities at their fair value. Fair value is defined as the price that the Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market for the investment. When valuing portfolio securities, the Fund uses observable market data when possible and otherwise uses other significant observable or unobservable inputs for fair value measurements. Inputs refer broadly to the assumptions the Fund believes that market participants would use in valuing the asset or liability, including assumptions about risk; for example, the risk inherent in using a particular valuation technique to measure fair value and the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in valuing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect the Fund’s own assumptions about the assumptions market participants would use in valuing the asset or liability developed based on the best information available in the circumstances. The three tier hierarchy of inputs used to value securities reported in these financial statements is summarized below:
Level 1 - unadjusted quoted prices in active markets for identical investments.    
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, credit risk, etc.).
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
The Fund uses broker quotes, issuer company financial information and other market indicators to value the securities whose prices are not readily available. The types of inputs used to value a security may change as the markets fluctuate and/or the availability of data used in an investment’s valuation changes.
When the S&P 500 Index (an unmanaged index published as Standard & Poor’s Composite Index of 500 common stocks) fluctuates more than 0.75% from the previous day close, the Fund believes that the closing price of foreign securities on the principal foreign exchange on which they trade may no longer represent the fair value of those securities at the time the U.S. market closes, in which case, the Fund fair values those foreign securities. In such circumstances, the Fund reports holdings in foreign securities at their fair values as determined by an independent security pricing service. The service uses a multi-factor model that includes such information as the security’s local closing price, relevant general and sector indices, currency fluctuations, depository receipts and futures, as applicable. The model generates an adjustment factor for each security that is applied to the local closing price to adjust it for post closing events, resulting in the security’s reported fair value. The adjustment factor is applied to a security only if the minimum confidence interval is 75% or more. The types of inputs may change as the markets fluctuate and/or the availability of data used in an investment’s valuation changes.

RMR Real Estate Income Fund
Notes to Portfolio of Investments
September 30, 2019 (unaudited) (continued)

All of the Fund’s investments were valued using Level 1 inputs on September 30, 2019. The Fund recognizes interperiod transfers between the input levels as of the end of the period. At September 30, 2019, there were no transfers of investments among Level 1, Level 2, and Level 3.
3. Tax Information
Although subject to adjustments, the cost, gross unrealized appreciation and unrealized depreciation of the Fund’s investments for federal income tax purposes as of September 30, 2019, are as follows:
Cost
 
$
296,383,491

Gross unrealized appreciation
 
89,151,784

Gross unrealized depreciation
 
(24,381,308
)
Net unrealized appreciation
 
$
64,770,476


The $853,214 difference between the financial reporting cost basis and tax cost basis of the Fund's investments as of September 30, 2019 is due to the different treatment of wash sales of portfolio investments and non-taxable distributions received from portfolio investments for financial and tax reporting purposes.



9

Item 2. Controls and Procedures.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)), are effective, as of a date within 90 days of the filing date of this report, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended.

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.


Item 3. Exhibits.

(a)(1) Certification of Principal Executive Officer, as required by Rule 30a-2(a) under the 1940 Act attached hereto.
(a)(2) Certification of Principal Financial Officer, as required by Rule 30a-2(a) under the 1940 Act attached hereto.


10





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

RMR REAL ESTATE INCOME FUND

By:    /s/ Fernando Diaz
Fernando Diaz
President (Principal Executive Officer)

Date:    November 20, 2019



Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By:    /s/ Fernando Diaz
Fernando Diaz
President (Principal Executive Officer)

Date:    November 20, 2019




By:    /s/ Brian E. Donley
Brian E. Donley
Treasurer and Chief Financial Officer (Principal Financial Officer)

Date:    November 20, 2019



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