I think your extremely misguided if you think a dividend increase is in order...
I only bought IGR a few months ago to diversify my real estate holdings in portfolio. I actually got the shareholder notice today which has a nice table about the dividend.
28% of my 4.5 cents is return of capital. Don't expect a dividend increase until the earnings support the current dividend.
Funds with heavy return of capitals are bad news.
Might not sell if but probably am not going to reinvest the dividend like I do with other reits until the dividend is less return of capital.