Principal Real Estate Income Fund
PGZ
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 1290 Broadway Denver CO United States of America 80203
- IPO Date
- Jun 26, 2013
- CIK
- 0001557523
- Website
- principalcef.com
- Similar Companies
- Business
- Principal Real Estate Income Fund (NYSE: PGZ) is a non-diversified, closed-end management investment company that seeks high current income, with a secondary objective of capital appreciation, through investments primarily in commercial real estate-related securities. The Fund invests at least 80% of its total assets in such securities, including commercial mortgage-backed securities (CMBS), real estate investment trusts (REITs), and REIT-like entities; under normal circumstances, it allocates between 40% and 70% of assets to CMBS and 30% to 60% to other real estate-related securities, primarily U.S. and non-U.S. REITs. It employs fundamental analysis combining top-down and bottom-up approaches, focusing on economic outlook, real estate cycles, valuations, quantitative metrics, and technical indicators; the Fund also uses financial derivatives such as credit default swaps, interest rate swaps, caps, floors, collars, currency futures, and interest rate futures. Formed on August 31, 2012, and launched June 25, 2013, the Fund is managed by ALPS Advisers, Inc. and co-managed by Principal Real Estate Investors, LLC, with headquarters at 1290 Broadway, Suite 1000, Denver, Colorado 80203. The Fund pursues a managed distribution plan targeting stable monthly payouts, as evidenced by its November 21, 2025, distribution of $0.1050 per share, comprising 13.24% net investment income and 86.76% return of capital. Geographically, it maintains a diversified portfolio spanning the United States, Australia, Japan, several European countries, and key Asian markets to capture varied real estate cycles and mitigate volatility. It trades on the NYSE and targets income-oriented investors seeking exposure to commercial real estate without direct property ownership. In recent developments, the Board of Trustees renewed the share repurchase program on December 18, 2024, authorizing the purchase of up to approximately 2.1% of outstanding common shares in the open market from January 21, 2025, to January 21, 2026, to potentially enhance shareholder value by reducing the discount to net asset value. This follows prior repurchase initiatives and aligns with ongoing efforts to analyze strategic options amid market conditions. No major acquisitions, partnerships, funding rounds, or product launches were reported in the last 1-2 years.