Principal Real Estate Income Fund:PGZ

    Manage Alerts


    As of 3/1/2021

    52 Wk Avg$12.13$14.94-19.08%
    52 Wk High$21.20$23.04-1.56%
    52 Wk Low$9.39$12.80-32.89%
    Regular Distribution TypeManaged Distribution
    Distribution Rate7.04%
    Distribution Amount$0.0800
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund normally invests at least 80% of its total assets in commercial real estate-related securities, primarily consisting of commercial mortgage backed securities ('CMBS') and other U.S. and non-U.S. real estate-related securities (primarily real estate investment trusts ('REITs') or REIT-like entities). It normally will invest between 40% and 70% of its total assets in CMBS and will invest between 30% and 60% in other real estate-related securities. The Fund may invest in both investment grade and below investment grade debt securities. It has no limitation on the percentage of assets that are invested in any one country or denominated in any one currency.

    Capital Structure

    As of 3/1/2021

    Total Investment Exposure:$148.827M
    Total Common Assets:$108.327M
    Common Shares Outstanding:6,899,800

    As of 3/1/2021

    Preferred Share Assets:
    Total Debt (USD): $40.500M
    Regulatory Leverage (USD): $40.500M
    Effective Leverage (USD): $40.500M
    Effective Leverage (%): 27.21%
    Annual Expense Ratios

    As of 10/31/2020

      Per Common Share
    Management Fees1.50%
    Other Expenses:0.60%
    Baseline Expense: N/A
    Interest Expense:0.81%
    Total: 2.92%
    Fund Management

    Fund Sponsor
    Principal Funds

    Portfolio Managers
    Kelly D. Rush, Marc Peterson

    Category: Equity-Real Estate
    Ticker: PGZ
    NAV Ticker: XPGZX
    Average Daily Volume (shares): 42,701
    Average Daily Volume (USD): $0.524M
    Inception Date: 6/26/2013
    Inception Share Price: $20.00
    Inception NAV: $19.06
    Tender Offer: No
    Term: No
    Fiscal Year End: October 31
    Third Party Links & Reports


    As of 3/1/2021

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 10/31/2020
    Annualized Distribution Rate on NAV:
    As of 3/1/2021
    Total Return on NAV (12 months):
    As of 3/1/2021
    Avg. Portfolio Coupon:
    As of 3/1/2021
    Total % Portfolio Effectively Leveraged:
    As of 3/1/2021

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 3/2/2021

    PeriodAvg Discount
    6 Month-21.08%
    1 Year-19.08%
    3 Year-13.73%
    5 Year-12.37%

    As of 3/1/2021

    3 Month2.87
    6 Month2.09
    1 Year1.42
    Pricing History
    Date NAV Premium / Discount


    Calendar Year Total Returns

    As of 2/28/2021
    Category: Morningstar US CEF Real Estate

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 2/28/2021
    Category: Morningstar US CEF Real Estate

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 3/1/2021
    Number of Holdings:
    As of 12/31/2020
    Annual Portfolio Turnover:
    As of 10/31/2020
    Average Bond Price:
    As of 12/31/2020
    Asset Allocation

    As of 12/31/2020 reported by Fund Sponsor

    Top Sectors

    As of 12/31/2020 reported by Fund Sponsor

    Securitized (Super Sector)87.36%
    Government Commercial Mortgage Backed82.86%
    Cyclical (Super Sector)47.76%
    Real Estate46.11%
    Agency Mortgage Backed4.51%
    Corporate (Super Sector)2.06%
    Financial Services1.65%
    Corporate Bond1.15%
    Preferred Stock0.91%
    Cash Equivalents-38.43%
    Top Holdings

    As of 12/31/2020 reported by Fund Sponsor

    HoldingValue% Portfolio
    Benchmark Mortgage Trust 3%$6.77M6.53%
    Bank 2017-Bnk5 206 4.26%$5.13M4.94%
    Commercial Mortgage Trust 4.09%$4.63M4.47%
    CFCRE Commercial Mortgage Trust 3.05%$3.63M3.50%
    COMM 2012-CCRE1 Mortgage Trust 5.32%$3.53M3.41%
    Commercial Mortgage Trust 2012-CCRE5 4.32%$3.42M3.30%
    BANK 2020-BNK29 2.5%$2.95M2.85%
    Morgan Stanley BAML Trust 4.35%$2.92M2.82%
    Bank 2017-Bnk9 3.37%$2.77M2.67%
    Credit Quality

    As of 12/31/2020 reported by Fund Sponsor

    Maturity Breakdown

    As of 12/31/2020 reported by Fund Sponsor

    Country Allocation

    As of 12/31/2020 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income87.36%
    United States - Equity25.06%
    Australia - Equity4.23%
    Canada - Equity3.92%
    Japan - Equity3.59%
    United Kingdom - Equity2.38%
    Hong Kong - Equity2.35%
    Singapore - Equity1.85%
    Germany - Equity1.58%
    China - Equity1.21%
    Spain - Equity0.81%
    Netherlands - Equity0.70%
    France - Equity0.35%
    Poland - Equity0.33%
    Ireland - Equity0.21%
    South Korea - Equity0.18%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.


    Distribution type sourced from Morningstar. In general, managed distributions may be sourced from net investment income, realized gains and return of capital. does not undertake to disclose specific information about closed-end fund distribution sources. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.