PGZ Form 4: Laton Spahr buys shares; direct stake 35,627

Rhea-AI Filing Summary

Principal Real Estate Income Fund (PGZ) reported an insider purchase on a Form 4. On 11/10/2025, Laton Spahr, President of the Advisor, bought 4,512 shares at $10.36 and 5,488 shares at $10.34.

After these transactions, the reporting person beneficially owned 35,627 shares, held directly.

Insider Trade Summary

Net Buyer: 10,000 shares ($103,490)

Net Buy 2 txns

Insider Spahr Laton

Role Insider

Bought 10,000 shs ($103K)

Type	Security	Shares	Price	Value
Purchase	Common Shares of Beneficial Ownership	4,512	$10.36	$47K
Purchase	Common Shares of Beneficial Ownership	5,488	$10.34	$57K

Holdings After Transaction: Common Shares of Beneficial Ownership — 35,627 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 11/12/2025 - 01:26 PM Learn about SEC filing dates

FAQ

What insider transaction did PGZ disclose?

Two open-market purchases on 11/10/2025 by Laton Spahr: 4,512 shares at $10.36 and 5,488 shares at $10.34.

How many PGZ shares does the insider own after the transaction?

The reporting person beneficially owned 35,627 shares following the reported transactions, held directly.

Who is the reporting person in the PGZ Form 4?

The filing is signed by Laton Spahr, identified as President of the Advisor.

What were the purchase prices disclosed in the PGZ Form 4?

The shares were purchased at $10.36 and $10.34.

What is the relationship of the reporting person to PGZ?

Listed as Other with the title President of the Advisor.

Was the ownership reported as direct or indirect?

The filing shows Direct (D) beneficial ownership after the transactions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Spahr Laton

(Last) (First) (Middle)

1290 BROADWAY

SUITE 1000

(Street)

DENVER CO 80203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Principal Real Estate Income Fund [ PGZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			President of the Advisor

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Ownership	11/10/2025		P		4,512	A	$10.36	35,627	D
Common Shares of Beneficial Ownership	11/10/2025		P		5,488	A	$10.34	35,627	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Laton Spahr	11/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.