Principal Real Estate Income Fund (NYSE:PGZ) Shares Down 0.3% – Time to Sell?

Principal Real Estate Income Fund (NYSE:PGZ) traded down 0.3% on Friday. The company traded as low as $8.69 and last traded at $8.71. 83,821 shares traded hands during mid-day trading, an increase of 244% from the average session volume of 24,345 shares. The stock had previously closed at $8.74.

Principal Real Estate Income Fund Trading Down 0.3%

The company’s fifty day simple moving average is $9.34 and its 200-day simple moving average is $9.83.

Principal Real Estate Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, January 14th will be given a dividend of $0.1050 per share. This represents a $1.26 annualized dividend and a dividend yield of 14.5%. The ex-dividend date is Thursday, January 14th.

Institutional Trading of Principal Real Estate Income Fund

A number of hedge funds have recently bought and sold shares of the business. Riverbridge Partners LLC increased its holdings in shares of Principal Real Estate Income Fund by 0.9% in the second quarter. Riverbridge Partners LLC now owns 204,139 shares of the company’s stock valued at $2,101,000 after purchasing an additional 1,871 shares during the last quarter. Shaker Financial Services LLC boosted its stake in Principal Real Estate Income Fund by 713.4% during the third quarter. Shaker Financial Services LLC now owns 90,664 shares of the company’s stock worth $809,000 after buying an additional 79,518 shares during the period. NWF Advisory Services Inc. boosted its position in shares of Principal Real Estate Income Fund by 5.5% during the 1st quarter. NWF Advisory Services Inc. now owns 48,200 shares of the company’s stock worth $463,000 after purchasing an additional 2,500 shares during the period. First Trust Advisors LP grew its stake in shares of Principal Real Estate Income Fund by 7.5% in the first quarter. First Trust Advisors LP now owns 36,243 shares of the company’s stock valued at $348,000 after buying an additional 2,522 shares in the last quarter. Finally, Lido Advisors LLC purchased a new stake in Principal Real Estate Income Fund during the first quarter worth about $119,000.

Principal Real Estate Income Fund Company Profile

Principal Real Estate Income Fund, Inc (NYSE: PGZ) is a closed-end management investment company focused on generating current income and, secondarily, long-term capital appreciation through investments related to the real estate sector.

The fund invests primarily in commercial real estate debt and equity securities. Its portfolio may include commercial mortgage-backed securities, real estate investment trusts, preferred and common stocks of real estate companies, and other securities tied to commercial property markets.