Principal Real Estate Income Fund (NYSE:PGZ) Short Interest Update

Principal Real Estate Income Fund (NYSE:PGZ) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 5,043 shares, a drop of 77.7% from the December 15th total of 22,628 shares. Based on an average daily volume of 29,302 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 29,302 shares, the days-to-cover ratio is currently 0.2 days.

Insider Buying and Selling

In other Principal Real Estate Income Fund news, insider Laton Spahr purchased 10,000 shares of the stock in a transaction on Monday, November 10th. The stock was bought at an average price of $10.35 per share, for a total transaction of $103,500.00. Following the acquisition, the insider directly owned 35,627 shares of the company’s stock, valued at $368,739.45. This represents a 39.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PGZ. Riverbridge Partners LLC boosted its position in shares of Principal Real Estate Income Fund by 29.1% in the fourth quarter. Riverbridge Partners LLC now owns 187,204 shares of the company’s stock worth $1,874,000 after buying an additional 42,232 shares during the period. Advisors Asset Management Inc. bought a new position in shares of Principal Real Estate Income Fund in the third quarter worth about $1,583,000. J.W. Cole Advisors Inc. grew its position in Principal Real Estate Income Fund by 13.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 112,130 shares of the company’s stock worth $1,173,000 after purchasing an additional 13,677 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Principal Real Estate Income Fund by 12.0% in the 3rd quarter. Raymond James Financial Inc. now owns 49,062 shares of the company’s stock valued at $513,000 after buying an additional 5,265 shares in the last quarter. Finally, NWF Advisory Services Inc. boosted its holdings in Principal Real Estate Income Fund by 7.9% during the third quarter. NWF Advisory Services Inc. now owns 48,000 shares of the company’s stock valued at $502,000 after purchasing an additional 3,500 shares in the last quarter.

Principal Real Estate Income Fund Stock Performance

Principal Real Estate Income Fund stock traded down $0.02 during midday trading on Wednesday, hitting $10.24. 17,607 shares of the stock were exchanged, compared to its average volume of 25,085. The company has a 50 day moving average price of $10.10 and a two-hundred day moving average price of $10.32. Principal Real Estate Income Fund has a 1 year low of $9.24 and a 1 year high of $10.76.

Principal Real Estate Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 16th will be paid a dividend of $0.105 per share. This represents a c) dividend on an annualized basis and a yield of 12.3%. The ex-dividend date is Thursday, April 16th.

About Principal Real Estate Income Fund

Principal Real Estate Income Fund Inc (NYSE: PGZ) is a diversified, closed-end management investment company that seeks a high level of current income and capital appreciation through investments in real estate securities. Launched in 2015 and managed by Principal Real Estate Investors, LLC, the fund primarily targets publicly traded equity and mortgage real estate investment trusts (REITs), as well as real estate operating companies. It offers investors access to a broad real estate portfolio that may include residential, office, industrial, retail and specialty property sectors.

The fund’s investment approach emphasizes a balance between income generation and total return potential.