Principal Real Estate Income Fund (PGZ) to Issue Monthly Dividend of 0.11 on May 31st
Principal Real Estate Income Fund (NYSE: PGZ – Get Rating) declared a monthly dividend on Tuesday, April 5th, Wall Street Journal reports. Investors of record on Friday, May 13th will be paid a dividend of 0.105 per share on Tuesday, May 31st. This represents a 26 1.26 dividend on an annualized basis and a yield of 9.46%. The ex-dividend date is Thursday, May 12th. This is an increase from Principal Real Estate Income Fund’s previous monthly dividend of $ 0.10.
Principal Real Estate Income Fund has decreased its dividend payment by an average of 8.7% per year over the last three years and has raised its dividend annually for the last 2 consecutive years.
Shares of PGZ stock opened at $ 13.32 on Tuesday. The business has a fifty day moving average of 14.86 and a 200 day moving average of 15.20. Principal Real Estate Income Fund has a 1 year low of $ 13.07 and a 1 year high of $ 16.20.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGZ. Morgan Stanley raised its stake in shares of Principal Real Estate Income Fund by 18.2% during the 2nd quarter. Morgan Stanley now owns 439,066 shares of the company’s stock valued at, 6,661,000 after buying an additional 67,464 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Principal Real Estate Income Fund by 57.7% during the 4th quarter. Bank of America Corp DE now owns 71,127 shares of the company’s stock valued at $ 1,123,000 after buying an additional 26,010 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Principal Real Estate Income Fund during the 4th quarter valued at about $ 196,000. Finally, UBS Group AG raised its stake in shares of Principal Real Estate Income Fund by 3.4% during the 3rd quarter. UBS Group AG now owns 25,621 shares of the company’s stock valued at $ 377,000 after buying an additional 847 shares during the last quarter.
Principal Real Estate Income Fund Company Profile (Get Rating)
Principal Real Estate Income Fund is a closed ended balanced mutual fund launched and managed by ALPS Advisers, Inc. It is co-managed by Principal Real Estate Investors, LLC. The fund invests in public equity and fixed income markets of the United States. It seeks to invest in commercial mortgage backed securities, real estate investment trusts and REIT-like entities.
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