Principal Real Estate Income Fund Declares Monthly Distributions, Payable on May 31, 2024, June 28, 2024 and July 31, 2024 Respectively
April 01, 2024 at 04:30 pm
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Principal Real Estate Income Fund announced the declaration of monthly distributions of $0.105 per common share, payable on the dates noted below. Based on the Fund's current net asset value share price of $11.46 (as of market close on March 27, 2024), the distributions represent an annualized distribution rate of 10.99%. Ex dates are May 15, 2024, June 15, 2024 and July 17, 2024.
Record dates are May 16, 2024, June 13, 2024 and July 17, 2024. Payable dates are May 31, 2024, June 28, 2024 and July 31, 2024, respectively.
Principal Real Estate Income Fund (the Fund) is a non-diversified, closed-end management investment company. The Fundâs investment objective is to seek to provide high current income, with capital appreciation as a secondary objective, by investing in commercial real estate-related securities. Under normal market conditions, the Fund invests at least 80% of its total assets in commercial real estate-related securities, primarily consisting of commercial mortgage-backed securities (CMBS) and other United States and non-United States real estate-related securities (primarily real estate investment trusts (REITs) or REIT-like entities). Under normal circumstances, the Fund invests between 40% and 70% of its total assets in CMBS and invests between 30% and 60% in other real estate-related securities (including REITs). The Fund's investment adviser is ALPS Advisors, Inc. The Fund's investment sub-adviser is Principal Real Estate Investors, LLC.