PRINCIPAL REAL ESTATE INCOME FUND DECLARES MONTHLY DISTRIBUTIONS OF $0.105 PER SHARE

Rhea-AI Summary

The Principal Real Estate Income Fund (PGZ) has announced a monthly distribution of $0.105 per common share, translating to an annualized distribution rate of 11.09%, based on a net asset value share price of $11.36 as of March 30, 2023. The distributions are scheduled for May, June, and July 2023, with payment dates following the record dates. Investors should note that this announcement is not for tax reporting purposes, and the actual tax implications will be communicated in 2024. The investment is subject to risks, including market fluctuations and the potential for loss or reduced returns, particularly due to its exposure to below-investment grade investments.

Positive

• Monthly distribution of $0.105 per share indicates a strong commitment to returning value to shareholders.
• Annualized distribution rate of 11.09% offers an attractive yield compared to many investment alternatives.

Negative

• Investment risks highlighted, including potential loss of capital and market fluctuations affecting net asset value.
• Dependence on below-investment grade assets may pose higher risks for investors.

DENVER, April 3, 2023 /PRNewswire/ -- Principal Real Estate Income Fund (the "Fund"), which is traded on the New York Stock Exchange under the symbol "PGZ," 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 $11.36 (as of market close on March 30, 2023), the distributions represent an annualized distribution rate of 11.09%.

The following dates apply to the distributions declared:

Ex Date	Record Date	Payable Date
May 15, 2023	May 16, 2023	May 31, 2023
June 15, 2023	June 16, 2023	June 30, 2023
July 17, 2023	July 18, 2023	July 31, 2023

 

RISKS

This press release is not for tax reporting purposes but is being provided to announce the amount of the Fund's distributions. In early 2024, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder's tax return (e.g., ordinary income, long-term capital gain or return of capital). An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle.

Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment and exposure to below-investment grade investments (i.e., "junk bonds"). The Fund's net asset value will vary and its distribution rate may vary and both may be affected by numerous factors, including changes in the market spread over a specified benchmark, market interest rates and performance of the broader equity markets. Fluctuations in net asset value may be magnified as a result of the Fund's use of leverage. Therefore, before investing you should carefully consider the risks that you assume when you invest in the Fund's common shares.

Securities backed by commercial real estate assets are subject to market risks similar to those of direct ownership of commercial real estate assets including, but not limited to, declines in the value of real estate, declines in rental or occupancy rates and risks related to general and local economic conditions.

The Fund's investment objectives and policies are not designed to seek to return the initial investment to investors that purchase shares.

Sources of distributions to shareholders may include net investment income, net realized short-term capital gains, net realized long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time, available at www.principalcef.com. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year. Past performance is not a guarantee of future results.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain an annual report or semi-annual report which contains this and other information visit www.principalcef.com or call 855.838.9485. Please read them carefully before investing.

Shares of closed-end investment companies frequently trade at a discount from their net asset value and initial offering prices.

NOT FDIC INSURED | May Lose Value | No Bank Guarantee

The Fund is a closed-end fund and does not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.

ALPS Advisors, Inc. is the investment adviser to the Fund.

Principal Real Estate Investors LLC is the investment sub-adviser to the Fund. Principal Real Estate Investors LLC is not affiliated with ALPS Advisors, Inc. or any of its affiliates.

ALPS Portfolio Solutions Distributor, Inc. is the FINRA Member firm.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology. Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

About SS&C | ALPS Advisors

SS&C ALPS Advisors, a wholly-owned subsidiary of SS&C Technologies, is a leading provider of investment products for advisors and institutions. With over $19 billion under management as of December 31, 2022, SS&C ALPS Advisors is an open architecture boutique investment manager offering portfolio building blocks, active insight and an unwavering drive to guide clients to investment outcomes across sustainable income, thematic and alternative growth strategies. For more information, visit www.alpsfunds.com.

About Principal Real Estate Investors

Principal Real Estate Investors manages or sub-advises $98.5 billion in commercial real estate assets, as of December 31, 2022. The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.

*Registered Representative of ALPS Distributors, Inc.

PRE000373 4/3/2024

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SOURCE Principal Real Estate Income Fund

FAQ

What is the distribution rate for PGZ in 2023?

The Principal Real Estate Income Fund (PGZ) has declared a distribution rate of $0.105 per share, yielding an annualized rate of 11.09%.

When will the next distributions for PGZ be paid?

The upcoming distributions for PGZ will be paid on May 31, June 30, and July 31, 2023.

What are the risks associated with investing in PGZ?

Investing in PGZ involves risks including potential loss of capital, market fluctuations, and exposure to below-investment grade investments.

How is the distribution from PGZ classified for tax purposes?

The classification of distributions for tax purposes will be provided to shareholders in early 2024 via Form 1099-DIV.