Principal Real Estate Income Fund (PGZ) Fair Value & Analysis
Financial Services · US · Market cap $65.8M
Principal Real Estate Income Fund
PGZ · US
Fair value as of: Jul 27, 2026
From 11 valuation models · updated 15 days ago
Share price +0.2% over the past month.
A solid business, screening 27% undervalued on our models.
What matters now
- Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.
How to read this chart
60‑month range $6.13 – $10.47 · fair‑value band $9.78 – $16.30 · the $10.27 price screens below the $13.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 27, 2026.
Analysis
Principal Real Estate Income Fund (PGZ) currently trades at $10.27, while our model-based Fair Value estimate is $13.04, implying the stock looks roughly 27.0% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Net debt stands at $32.0M. The stock trades on a trailing P/E of 12.8. Fundamentals as of Jul 27, 2026
Our scenario range runs from $9.78 (bear case) to $16.30 (bull case); at $10.27, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 14% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at 27%, PGZ screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 11 models by family
Widest divergence: Earnings-Based ($26.85) versus Asset-Based ($7.61). Highest evidence: Residual Income (76).
Notify me when PGZ reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
Figures from reported company fundamentals · as of Jul 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 70
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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. The fund invests in value stocks of companies. It uses financial derivatives such as credit default swaps, interest rate swaps, caps, floors and collars, currency futures and forwards, rate forwards, and interest rate futures to invest in securities. The fund employs fundamental analysis with a combination of top-down and bottom-up stock picking approach while focusing on factors such as macro outlook on the economy, real estate cycle and real estate fundamentals, shorter-term tactical allocation shifts upon a continual assessment of market valuations, quantitative, analysis, and technical indicators to create it portfolio. Principal Real Estate Income Fund was formed on August 31, 2012 and is domiciled in the United States.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Principal Real Estate Income Fund reported revenue of $6.1M in FY2025 versus $34.1M in FY2021, a compound −35.1%/yr. Reported net income was $5.1M in FY2025, compounding −37.4%/yr from FY2021.
Watch PGZ: get an alert when its fair value changes →
Peer Group
Asset Management · 971 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Asset Management median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fondul Proprietatea SA FP | $0.0420 | $0.0800 | +90% |
| BlackRock, Inc BLK | $1,136 | $465.75 | -59% |
| Blackstone Inc BX | $124.56 | $16.35 | -87% |
| Investor AB INVEB | kr 423.70 | kr 847.40 | +100% |
| Brookfield Corporation BN | C$62.45 | C$10.12 | -84% |
| KKR & Co KKR | $100.94 | $44.88 | -56% |
| AB Industrivärden INDUA | kr 532.50 | kr 1,065 | +100% |
| Jio Financial Services Limited JIOFIN | ₹242.98 | ₹40.19 | -83% |
| Hedef Holding HEDEF | 267.25 TRY | 320.98 TRY | +20% |
| Bajaj Holdings BAJAJHLDNG | ₹10,398 | ₹9,202 | -12% |
Compare Principal Real Estate Income Fund with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Financial Services stocks →
Frequently asked questions
Is Principal Real Estate Income Fund (PGZ) overvalued or undervalued?
What is the fair value of PGZ?
What is the quality score of PGZ?
What is the net profit margin of PGZ?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track Principal Real Estate Income Fund and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.