Principal Real Estate Income Fund (the “Fund”), which is traded
on the New York Stock Exchange under the symbol “PGZ,” announced
the declaration of monthly distributions of $0.14 per common share,
payable on the dates noted below. Based on the Fund’s current share
price of $17.21 (as of market close on January 29, 2014), the
distributions represent an annualized distribution rate of 9.76%.
This new rate represents an increase over the Fund’s previous
distributions.
"Since the last distributions were declared, the Fund has
employed leverage to Management's desired level and has remained
fully invested consistent with its investment strategy. The Fund
has benefitted from the initial funding at the end of June 2013
which occurred during a period of volatility and allowed us to buy
Commercial Mortgage-Backed Securities and Global REIT Securities at
yields higher than our original targets. Since June 25, 2013,
prices on the securities of the Fund's holdings have appreciated
due to improvements in the overall market, improving real estate
fundamentals, and portfolio management decisions which have led to
excess income. Based on these factors, we are pleased to announce
an increase of the monthly distributions to $0.14 per share," said
Marc Peterson, lead portfolio manager of the Fund, which is
sub-advised by Principal Real Estate Investors, LLC, and advised by
ALPS Advisors, Inc.
The following dates apply to the distributions declared:
Ex Date
Record Date
Payable Date
February 13, 2014 February 18, 2014
February 27, 2014 March 13, 2014
March 17, 2014 March 27, 2014 April 10, 2014
April 14, 2014 April 24,
2014
Principal Real Estate Investors, LLC announced today that it
will hold a conference call to discuss Principal Real Estate Income
Fund. Led by a member of the portfolio management team, the call is
open to the public and will cover the Fund’s strategy, the current
state of the market, and the portfolio management team’s investment
outlook.
Date: February 4, 2014 at 3:00 PM EST
Toll Free Dial-In number: (800) 852-8156 Conference ID: 36515964
Replay number: (855) 859-2056
RISKS
_____________________
This press release is not for tax reporting purposes but is
being provided to announce the amount of the Fund’s distributions.
In early 2014, after definitive information is available, the Fund
will send shareholders a Form 1099-DIV, if applicable, specifying
how the distributions paid by the Fund during the prior calendar
year should be characterized for purposes of reporting the
distributions on a shareholder’s tax return (e.g., ordinary income,
long-term capital gain or return of capital). An investment in the
Fund is not appropriate for all investors and is not intended to be
a complete investment program. The Fund is designed as a long-term
investment and not as a trading vehicle.
Investing in the Fund involves risks, including the risk that
you may receive little or no return on your investment or that you
may lose part or even all of your investment and exposure to
below-investment grade investments (i.e., “junk bonds”). The Fund’s
net asset value will vary and its distribution rate may vary and
both may be affected by numerous factors, including changes in the
market spread over a specified benchmark, market interest rates and
performance of the broader equity markets. Fluctuations in net
asset value may be magnified as a result of the Fund’s use of
leverage. Therefore, before investing you should carefully consider
the risks that you assume when you invest in the Fund's common
shares.
Securities backed by commercial real estate assets are subject
to market risks similar to those of direct ownership of commercial
real estate assets including, but not limited to, declines in the
value of real estate, declines in rental or occupancy rates and
risks related to general and local economic conditions.
The Fund's investment objectives and policies are not designed
to seek to return the initial investment to investors that purchase
shares.
A portion of the distribution may be treated as paid from
sources other than net income, including but not limited to
short‐term capital gain, long‐term capital gain and return of
capital. The final determination of the source of all
distributions, including the percentage of qualified dividend
income, is made after year‐end.
Past performance is not guarantee of future results.
Investors should consider the Fund's investment objectives,
risks, charges and expenses carefully before investing. The
prospectus contains this and other information about the fund. For
more complete information about the Fund or to obtain a copy of the
prospectus, call your financial professional, visit the Fund’s site
at www.principalcef.com or call 855.838.9485. Please
read the prospectus carefully before investing.
Because the Fund is newly organized, its Common Shares have a
limited history of public trading. Shares of closed-end investment
companies frequently trade at a discount from their net asset value
and initial offering prices. The risks associated with this
characteristic of closed-end investment companies may be greater
for for investors expecting to sell their shares in a relatively
short period after completion of the initial public offering.
NOT FDIC INSURED | May Lose Value | No Bank Guarantee
The Fund is a closed-end fund and does not continuously issue
shares for sale as open-end mutual funds do. Since the initial
public offering, the Fund now trades in the secondary market.
Investors wishing to buy or sell shares need to place orders
through an intermediary or broker. The share price of a closed-end
fund is based on the market's value.
ALPS Advisors, Inc. is the investment adviser to the Fund.
Principal Real Estate Investors LLC is the investment
sub-adviser to the Fund. Principal Real Estate Investors LLC is not
affiliated with ALPS Advisors, Inc. or any of its affiliates.
About ALPS - Advisor for the Fund
ALPS provides customized asset servicing and asset gathering
solutions to the financial services community through an
entrepreneurial culture based on the commitment to “Do Things
Right.” Founded in 1985, ALPS continues to actively promote all of
its various business segments, from asset servicing through ALPS
Fund Services, Inc. to asset gathering through ALPS Distributors,
Inc. and ALPS Advisors, Inc. Headquartered in Denver, with offices
in Boston, New York, Seattle, and Toronto, ALPS, a wholly-owned
subsidiary of DST Systems, Inc., today represents more than 400
employees, over 200 clients, and an executive team that has been in
place for more than 18 years. For more information about ALPS and
its services, visit www.alpsinc.com. Information about ALPS
products is available at www.alpsfunds.com.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $48.7
billion in commercial real estate assets, as of December 31, 2013.
The firm’s real estate capabilities include both public and private
equity and debt investment alternatives. Principal Real Estate
Investors is the dedicated real estate group of Principal Global
Investors, a diversified asset management organization and a member
of the Principal Financial Group®.
ALPS Advisors, Inc.Patricia Lobato,
720-917-0644www.alpsinc.comorPrincipal Real Estate
InvestorsJaime Naig,
515-247-0798naig.jaime@principal.com
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