Principal Real Estate Income Fund (NYSE:PGZ) Stock Falls 0.3% – Here’s What Happened

Principal Real Estate Income Fund (NYSE:PGZ)’s stock price traded down 0.3% during mid-day trading on Friday. The stock traded as low as $8.69 and last traded at $8.71. 83,821 shares were traded during trading, an increase of 244% from the average session volume of 24,345 shares. The stock had previously closed at $8.74.

Principal Real Estate Income Fund Price Performance

The stock has a fifty day moving average price of $9.34 and a 200 day moving average price of $9.83.

Principal Real Estate Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, January 14th will be issued a dividend of $0.1050 per share. The ex-dividend date of this dividend is Thursday, January 14th. This represents a $1.26 dividend on an annualized basis and a yield of 14.5%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Riverbridge Partners LLC grew its holdings in Principal Real Estate Income Fund by 0.9% during the 2nd quarter. Riverbridge Partners LLC now owns 204,139 shares of the company’s stock valued at $2,101,000 after buying an additional 1,871 shares in the last quarter. NWF Advisory Services Inc. increased its position in shares of Principal Real Estate Income Fund by 5.5% during the first quarter. NWF Advisory Services Inc. now owns 48,200 shares of the company’s stock valued at $463,000 after buying an additional 2,500 shares during the period. First Trust Advisors LP lifted its holdings in shares of Principal Real Estate Income Fund by 7.5% in the first quarter. First Trust Advisors LP now owns 36,243 shares of the company’s stock worth $348,000 after buying an additional 2,522 shares in the last quarter. Lido Advisors LLC purchased a new stake in shares of Principal Real Estate Income Fund in the first quarter worth about $119,000. Finally, Shaker Financial Services LLC lifted its holdings in shares of Principal Real Estate Income Fund by 713.4% in the third quarter. Shaker Financial Services LLC now owns 90,664 shares of the company’s stock worth $809,000 after buying an additional 79,518 shares in the last quarter.

About Principal Real Estate Income Fund

Principal Real Estate Income Fund, Inc (NYSE: PGZ) is a closed-end management investment company focused on generating current income and, secondarily, long-term capital appreciation through investments related to the real estate sector.

The fund invests primarily in commercial real estate debt and equity securities. Its portfolio may include commercial mortgage-backed securities, real estate investment trusts, preferred and common stocks of real estate companies, and other securities tied to commercial property markets.