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INDIANA, Pa. and CINCINNATI, Oh., Dec. 18, 2024 (GLOBE NEWSWIRE) -- First Commonwealth Financial Corporation (“First Commonwealth”) (NYSE: FCF), the holding company for First Commonwealth Bank, and CenterGroup Financial, Inc. (“CenterGroup”), the holding company for CenterBank, today jointly announced the signing of an Agreement and Plan of Merger (“Agreement”) providing for the merger of CenterGroup with and into First Commonwealth in an all-stock transaction valued at approximately $54.6 million in the aggregate, based upon the closing stock price of First Commonwealth as of December 17, 2024. Following the merger of CenterGroup with and into First Commonwealth, CenterBank will merge with and into First Commonwealth Bank. The business combination will significantly increase First Commonwealth’s presence in the Cincinnati market, adding approximately $348.4 million of total assets 1 , 3 branch locations, a loan production office and a mortgage office to First Commonwealth’s Cincinnati franchise. The transaction helps further First Commonwealth’s commercially focused strategy within the Cincinnati market by adding a customer base that is 65% business. Under the terms of the Agreement, which has been approved by the boards of directors of both companies, CenterGroup shareholders will be entitled to receive a fixed exchange ratio of 6.10 shares of First Commonwealth common stock for each CenterGroup common share. The merger is expected to qualify as a tax-free reorganization and is expected to be completed in the first half of 2025, subject to certain closing conditions, including approval by CenterGroup shareholders and customary bank regulatory approvals. “We are pleased to welcome CenterBank into our organization, further expanding our commercial franchise within the attractive Cincinnati market. We have known the CenterBank team for a long time and believe their customer-focused, commercially oriented business model is a strong cultural alignment and augments our existing Cincinnati growth plans,” said Mike Price, President and Chief Executive Officer of First Commonwealth. “The expansion of our branch network within greater Cincinnati allows us to attract additional talent, create meaningful customer relationships and deepen our penetration within the market.” “We are excited to partner with First Commonwealth’s growing and profitable franchise and believe the cultural alignment between our organizations is the ideal next chapter for CenterBank’s customers, employees and shareholders. We have admired First Commonwealth’s business and reputation within this market and are excited to be a part of its further expansion in Cincinnati. This combination also adds expanded banking products to our organization resulting in an enhanced experience for our customers, employees and community,” said Stewart Greenlee, President and Chief Executive Officer of CenterGroup. Excluding certain one-time merger charges, the transaction is expected to be approximately 2% accretive to First Commonwealth’s earnings in 2025, and approximately 3% accretive to earnings in 2026 once anticipated cost savings are fully phased in. Estimated tangible book value dilution is expected to be less than 2%, including the impact of estimated one-time charges. Advisors Raymond James & Associates, Inc. is serving as financial advisor and Squire Patton Boggs (US) LLP is serving as legal counsel to First Commonwealth. Janney Montgomery Scott is serving as financial advisor and Dinsmore & Shohl, LLP is serving as legal counsel to CenterGroup. About First Commonwealth Financial Corporation First Commonwealth Financial Corporation (NYSE: FCF), headquartered in Indiana, Pennsylvania, is a financial services Company with 125 community banking offices in 30 counties throughout western and central Pennsylvania and throughout Ohio, as well as commercial lending operations in Pittsburgh and Harrisburg, Pennsylvania, and Canton, Cleveland, Columbus and Cincinnati, Ohio. The Company also operates mortgage offices in Wexford, Pennsylvania, as well as Hudson and Lewis Center, Ohio. First Commonwealth provides a full range of commercial banking, consumer banking, mortgage, equipment finance, wealth management and insurance products and services through its subsidiaries First Commonwealth Bank and First Commonwealth Insurance Agency. For more information about First Commonwealth or to open an account today, please visit www.fcbanking.com . About CenterGroup Financial Corporation CenterGroup’s wholly owned subsidiary, CenterBank, founded in 2000, was built upon an old concept: community banking. CenterBank knows its customers on a first name basis, keeps an open-door policy, and works hard to find common sense solutions for its customers. Specific product sets have been developed for deposits, residential mortgages and full-service banking to owner-managed businesses in the Greater Cincinnati market. CenterBank specializes, and that gives it the opportunity to deliver best in class service to its specific customer niche while effectively managing operating risk. CenterBank has sought to maximize growth within the constraints of acceptable profitability and capital levels to ensure stable and positive regulatory ratings. To learn more about CenterGroup and CenterBank please visit www.center.bank . Forward-looking Statements: This joint press release of First Commonwealth and CenterGroup contains “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act, relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of First Commonwealth and CenterGroup. Forward-looking statements are typically identified by words such as “believe”, “plan”, “expect”, “anticipate”, “intend”, “outlook”, “estimate”, “forecast”, “will”, “should”, “project”, “goal”, and other similar words and expressions. These forward-looking statements involve certain risks and uncertainties. In addition to factors previously disclosed in First Commonwealth reports filed with the Securities and Exchange Commission and those identified elsewhere in this press release, the following factors among others, could cause actual results to differ materially from forward- looking statements or historical performance: ability to obtain regulatory approvals in a timely manner and without significant expense or other burdens; ability to meet other closing conditions to the merger, including approval by CenterGroup shareholders; delay in closing the merger; difficulties and delays in integrating the businesses of CenterGroup and First Commonwealth or fully realizing cost savings and other benefits; business disruption following the merger; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customer acceptance of First Commonwealth products and services; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives; competitive conditions; the inability to realize anticipated cost savings or revenues or to implement integration plans and other consequences associated with mergers, acquisitions and divestitures; economic conditions; and the impact, extent and timing of technological changes, capital management activities, and the actions and policies of the federal and state bank regulatory authorities and legislative and regulatory actions and reforms. First Commonwealth and CenterGroup undertake no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release. CONTACT Media Relations: Ron Wahl Communications and Media Relations Phone: 724-463-6806 E-mail: RWahl@fcbanking.com Investor Relations: Ryan M. Thomas Vice President / Finance and Investor Relations Phone: 724-463-1690 E-mail: RThomas1@fcbanking.com An investor presentation accompanying this release is available at: http://ml.globenewswire.com/Resource/Download/2a211734-7811-4664-bb65-4a4f56ab1be8 1 As of September 30, 2024
Vance takes on a more visible transition role, working to boost Trump's most contentious picksThe orca who swam with her dead calf for 17 days in an apparent act of grieving recently gave birth to a new baby, according to Michael Weiss, research director of the Center for Whale Research. The calf born to Tahlequah, known to researchers as J35, was first spotted on Dec. 20 swimming along with J pod in the Puget Sound area for the past several days. Initially, the researchers could not confirm the identity of the calf with certainty. On Monday, however, scientists and researchers observing the calf “confidently” assigned Tahlequah as the mother and the baby as alpha-numeric J61, Weiss said to CNN. On Friday, a nature enthusiast and photographer who captured the calf — without first realizing it — told CNN, “My first reaction to seeing the calf was complete shock. I was just looking through my photos to see who the whales were that passed close to the port side of the ferry I was on and noticed a much smaller dorsal on one of the photos. As I scrolled through the series I realized it was very tiny calf, much smaller than any of the known young ones in the group. Based on the size and color of the calf, I realized it was a new calf and traveling with J35, my spark whale, the whale that started my obsession.” The Center for Whale Research said in a post on Facebook that they were able to photograph the calf’s underside, “confirming that the calf is a female.” The mother first made headlines in 2018 when she swam about 1,000 miles of ocean with the body of her calf, which died a few hours after birth, preventing it from sinking for more than two weeks. She had her first known baby since that incident, J57, two years later in 2020. She is also a mother to another orca, J47. While the new baby news is joyous and hopeful, researchers are still concerned about the Southern Resident killer whale population. They are listed as endangered in Canada and are “one of the most critically endangered populations of marine mammals in the USA,” according to researchers . “The team, including multiple experienced killer whale researchers, have expressed concern about the calf’s health based on the behavior of both J35 and J61,” the Center for Whale Research said in a post on Facebook Tuesday. “Early life is always dangerous for new calves, with a very high mortality rate in the first year. J35 is an experienced mother, and we hope that she is able to keep J61 alive through these difficult early days,” the post read. According to Orca Conservancy on X, worrying behavior had been observed concerning the calf. “The calf had also been observed being pushed around on J35’s head and was not looking lively, which is a concern, but also added calf behavior is not fully understood,” the post read . “All of this serves as a reminder that in order for new calves, salmon stocks need to be recovered to levels that will help support population growth.” According to researchers , the Southern Resident population grew during the late 1970s to mid-1990s, peaking at 98 animals. This year, the population census counted 73 whales. The Center for Whale Research said in a post on Facebook “The Southern Resident killer whale population needs ample access to their food supply, mainly salmon, to survive and thrive. Every single birth counts and these whales need enough fish to be able to support themselves and their calves.”
By Steve Holland and Alexandra Ulmer (Reuters) - President-elect Donald Trump on Friday said he will nominate prominent investor Scott Bessent as U.S. Treasury secretary, a key cabinet position with vast influence over economic, regulatory and international affairs. "I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States," Trump said in a statement released on Truth Social. "Scott is widely respected as one of the world's foremost international investors and geopolitical and economic strategists." Wall Street has been closely watching who Trump will pick, especially given his plans to remake global trade through tariffs and extend and potentially expand the raft of tax cuts enacted during his first term. The choice came after days of deliberations by Trump as he sorted through a shifting list of candidates. Bessent spent day after day at Trump's Mar-a-Lago home in Florida providing economic advice, sources said, a proximity to the president-elect that may have helped him prevail. Other names that had been floated included Apollo Global Management Chief Executive Marc Rowan and former Federal Reserve Governor Kevin Warsh. Investor John Paulson had also been a leading candidate, but dropped out, while Wall Street veteran Howard Lutnick, another contender, was appointed as head of the Commerce Department. Bessent, who did not immediately respond to a request for comment, has advocated for tax reform and deregulation, particularly to spur more bank lending and energy production, as noted in a recent opinion piece he wrote for The Wall Street Journal. The market's surge after Trump's election victory, he wrote, signaled investor expectations of "higher growth, lower volatility and inflation, and a revitalized economy for all Americans." "Bessent has been on the side of less aggressive tariffs," said Oxford Economics' Ryan Sweet, adding that picking him makes the steep tariffs Trump proposed on the campaign trail less likely. Bessent follows other financial luminaries who have taken the job, including former Goldman Sachs executives Robert Rubin, Hank Paulson and Steven Mnuchin, Trump's first Treasury chief. Janet Yellen, the current secretary and first woman in the job, previously chaired the Federal Reserve and White House Council of Economic Advisers. Republican U.S. Senator Lindsey Graham from South Carolina, Bessent's home state, said in a statement: "President Trump's economic agenda is in good hands with Scott Bessent. I look forward to working closely with Scott and President Trump to lower inflation and create the golden age of prosperity for the American people." ECONOMY'S QUARTERBACK As Treasury secretary, Bessent will essentially be the highest-ranking U.S. economic official, responsible for maintaining the plumbing of the world's largest economy, from collecting taxes and paying the nation's bills to managing the $28.6-trillion Treasury debt market and overseeing financial regulation, including handling and preventing market crises. The Treasury boss also runs U.S. financial sanctions policy, oversees the U.S.-led International Monetary Fund, World Bank and other international financial institutions, and manages national security screenings of foreign investments in the United States. Bessent will face challenges, including safely managing federal deficits that are forecast to grow by nearly $8 trillion over a decade due to Trump's plans to extend expiring tax cuts next year and add generous new breaks, including ending taxes on Social Security income. Without offsetting revenues, this new debt would add to an unsustainable fiscal trajectory already forecast to balloon U.S. debt by $22 trillion through 2033. Managing debt increases this large without market indigestion will be a challenge, though Bessent has argued Trump's agenda will unleash stronger economic growth that will grow revenue and shore up market confidence. Bessent will also inherit the role carved out by Yellen to lead the Group of Seven wealthy democracies in providing tens of billions of dollars in economic support for Ukraine in its fight against Russia's invasion and tightening sanctions on Moscow. But it is unclear whether he will pursue this, given Trump's desire to end the war quickly and withdraw U.S. financial support for Ukraine. Another area where Bessent will likely differ from Yellen is her focus on climate change, from her mandate that development banks expand lending for clean energy to incorporating climate risks into financial regulations and managing hundreds of billions of dollars in clean-energy tax credits. Trump, a climate-change skeptic, has vowed to increase production of U.S. fossil fuel energy and end the clean-energy subsidies in President Joe Biden's 2022 Inflation Reduction Act. FED FACING The Treasury secretary is also the administration's closest point of contact with the Federal Reserve. Both Yellen under Biden and Mnuchin under Trump typically met weekly with Fed Chair Jerome Powell, often over breakfast or lunch. Bessent has floated the idea of creating a "shadow" Fed chair. This would entail nominating as early as possible a presumptive Powell successor to the Fed Board who would then deliver their own policy guidance so that, as Bessent told Barron's last month, "no one is really going to care what Jerome Powell has to say anymore." Bessent has since said he no longer thinks the idea of a shadow chair worth pursuing, the Wall Street Journal reported. Powell's term as Fed chair expires in May 2026. FROM FINANCE TO DC Bessent, 62, primarily lives in Charleston, South Carolina, with his husband and two children. He grew up in the fishing village of Little River, South Carolina, where Bessent has said his father, a real estate investor, experienced booms and busts. Bessent worked for noted short seller Jim Chanos in the late 1980s and then joined Soros Fund Management, the famed macroeconomic investment firm of billionaire George Soros. He soon helped Soros and top deputy Stanley Druckenmiller on their most famous trade - shorting the British pound in 1992 and earning the firm more than $1 billion. In 2015, Bessent raised $4.5 billion, including $2 billion from Soros, to launch Key Square Group, a hedge fund firm that bets on macroeconomic trends. Key Square's main fund gained about 31% in 2022, according to media reports, but firm assets have declined to approximately $577 million as of December 2023, according to a regulatory filing. (Reporting by Steve Holland, Alexandra Ulmer, David Lawder, Lawrence Delevingne, Ann Saphir, Costas Pitas, Nathan Layne and Jasper Ward; editing by Megan Davies, Rod Nickel and Rosalba O'Brien)Bureau Raises $30 Million for Anti-Fraud Campaign With PayPal’s HelpThe NBA got viewers for Christmas, even while going up against NFL games. The NBA's five-game Christmas lineup was the league's most-watched in five years, with the games averaging about 5.25 million viewers per game across ABC, ESPN and its platforms, the league said Thursday based on Nielsen's preliminary numbers. It's an 84% rise over the NBA's Christmas numbers from 2023. The Los Angeles Lakers’ 115-113 victory over the Golden State Warriors — a game pitting Olympic teammates LeBron James and Stephen Curry — averaged 7.76 million viewers and peaked with about 8.32 million viewers toward the end of the contest, the league said. Those numbers represent the most-watched NBA regular season game in five years. “I love the NFL,” James said in his televised postgame interview Wednesday night. “But Christmas is our day.” The NBA said all five Christmas games on its schedule — San Antonio at New York in Victor Wembanyama's holiday debut, Minnesota at Dallas, Philadelphia at Boston, Denver at Phoenix and Lakers-Warriors — saw year-over-year viewership increases. Wednesday's numbers pushed NBA viewership for the season across ESPN platforms to up 4% over last season. The league also saw more than 500 million video views on its social media platforms Wednesday, a new record. For the NBA, those are all good signs amid cries that NBA viewership is hurting. “Ratings are down a bit at beginning of the season. But cable television viewership is down double digits so far this year versus last year," NBA Commissioner Adam Silver said earlier this month. “You know, we’re almost at the inflection point where people are watching more programing on streaming than they are on traditional television. And it’s a reason why for our new television deals, which we enter into next year, every game is going to be available on a streaming service.” Part of that new package of television deals that the NBA is entering into next season also increases the number of regular season games broadcast on television from 15 to 75. AP NBA: https://www.apnews.com/hub/NBA
MICHELLE Keegan and Mark Wright took their secret pregnancy picture in November. Pals said the couple took the snap during a winter break to Majorca, which they count as a second home. Michelle, 37, announced she was expecting her first child with Mark, 37, this evening. A pal added: “Michelle and Mark went on a winter sun break in early November and chose to take the photograph there. “It was taken on an empty beach by a friend when they knew no one would spot them. “Majorca is like a second home to them so it felt special for them to take that photograph there. “The lighting and the setting was just perfect, it was a beautiful moment.” Pals told The Sun tonight how Fool You Once actress Michelle and Heart DJ Mark were “thrilled” about their baby news. One said: “Michelle and Mark kept their pregnancy quiet for a long time because they wanted to enjoy every second. “Starting a family has been something they have wanted to do for a long time. “They are both in amazing places in their careers and their family home in Essex is all completed. “The timing could not have been more perfect." Michelle and Mark's friends inundated them with messages after their Instagram post went live on social media. Mark’s best friend James Argent commented: “I love you and I’m so happy for you both. “You’re going to be amazing parents. I can’t wait to be an Uncle.” Kelly Brook added: “This is amazing news,” while Helen Flanagan wrote: “So happy for you both.” Their happy baby news comes after Michelle hit back at “sexist” questions about when they would start a family. Earlier this year, Michelle said: “It’s horrible. People don’t know if we’re trying. They don’t know the background of what’s happening. “In this day and age, you shouldn’t be asking questions like that. I’m asked purely because I’m a woman. “But I’m immune to it now – it’s like a reaction, and as soon as I hear it I brush it off as it’s no one else’s business.” Michelle and Mark first met backstage at The X Factor in 2011 before subsequently bumping into each other at numerous other events after. A year later, former Towie star Mark asked Michelle out on a date and in 2015 they married at St Mary’s Church in Bury St Edmunds. Over the years the pair have fielded questions about having children – but have made no secret about wanting a large family. Back in 2018, Michelle told Women’s Health: “I’ve always been broody. I love kids, and I want four, so hopefully in the near future.” A year later, Mark told The Sun: “We say we’re going to try [for a baby] every year but something comes up with work. “So it’ll be Michelle filming in South Africa and then I got the job in Los Angeles – so we think, right, we’ll try next year.”EAST RUTHERFORD, N.J. (AP) — The New York Giants snapped a franchise-record 10-game losing streak and ended the Indianapolis Colts' slim playoff hopes Sunday as Drew Lock threw four touchdown passes and ran for another in a 45-33 victory. New York earned its first home win of the season and it no longer has control of the No. 1 overall pick in the draft. Lock sandwiched touchdown passes of 31 and 59 yards to Malik Nabers around TD passes of 32 yards to Darius Slayton and 5 yards to Wan'Dale Robinson in leading the Giants (3-13) to their first win since beating Seattle on Oct. 6. Ihmir Smith-Marsette had a 100-yard return on the second-half kickoff on a day the league's worst offense set a season high for points. Jonathan Taylor scored on runs of 3 and 26 yards for Indianapolis (7-9), while Joe Flacco, subbing for the injured Anthony Richardson, threw touchdown passes of 13 yards to Alec Pierce and 7 yards to Michael Pittman, the last bringing the Colts within 35-33 with 6:38 left in the fourth quarter. Lock, who finished 17 of 23 for 309 yards, iced the game by leading a nine-play, 70-yard drive that he capped with a 5-yard run. The 45 points were the most for New York since putting up 49 in a 52-49 loss to the Saints in 2015. It’s the Giants most in a win since a 45-14 rout against Washington in 2014 and most at home since a 52-27 win against the Saints in 2012. Nabers finished with seven catches for a career-high 171 yards. Flacco was 26 of 38 for 330 yards with two interceptions, the second by rookie Dru Phillips shortly after Lock's TD run. Taylor, who rushed for 218 yards in a win over Tennessee last weekend, finished with 125 yards on 32 carries. Pierce had six catches for 122 yards. Rookies Nabers and running back Tyrone Tracy become the third pair of rookies to have more than 1,000 yards from scrimmage in the same season. The previous duo was running back Reggie Bush and receiver Marques Colston of the Saints in 2006. Injuries Colts: Richardson was inactive with foot and back injuries sustained against Tennessee. Giants: DL Armon Watts (knee) was ruled out in the first half. Up next Colts: Finish the regular season by hosting Jacksonville. Giants: At Philadelphia to face Saquon Barkley and the Eagles. ___ AP NFL coverage: https://apnews.com/hub/NFL Tom Canavan, The Associated Press
WAISL Launches State-of-the-Art Digital Twin-Powered Integrated Airport Predictive Operations CentreMarianne Williamson, who ran in the 2024 Democratic presidential primary against President Joe Biden, launched a bid on Dec. 26 to chair the Democratic National Committee (DNC) amid a growing field of candidates who are looking to rebrand the party after it lost control of the Senate and White House this year. Williamson’s candidacy is among others who have indicated their intentions of leading the DNC after current Chair Jaime Harrison’s term expires early next year. New York state Sen. James Skoufis (D), Minnesota Democratic Party Chair Ken Martin, Wisconsin Democratic Party Chair Ben Wikler, former Maryland Gov. Martin O’Malley, and former Homeland Security official Nate Snyder have expressed interest in the party leadership position. Williamson, who also ran in the 2020 Democratic presidential primary, said, “My experience of what went wrong has given me insight into what needs doing to make things right.” She suspended her 2020 campaign before Iowa’s Democratic caucus and then suspended her 2024 campaign in February before unsuspending it shortly thereafter. “MAGA is a distinctly 21st century political movement and it will not be defeated by a 20th century tool kit,” Williamson wrote. “Data analysis, fundraising, field organizing, and beefed-up technology—while all are important—will not be enough to prepare the way for Democratic victory in 2024 and beyond. That’s why I have decided to run for DNC Chair this year.” After losing control of the Senate and the presidential race this year, the Democratic Party is trying to chart a new path forward for the 2026 midterms and beyond. Many of the DNC chair candidates have made promises of rebuilding and rebranding the party so that it can chip away at the Republican’s trifecta—its control of the White House and both chambers of Congress—in the coming years. There will be four candidate forums throughout January, including in-person and virtual events at which candidates can engage with grassroots party members nationwide. Williamson suggested she has the right experience to lead the Democratic Party to future victory. “As chairwoman, I will work to reinvent the party from the inside out. For if we want a new president in four years, and a new Congress in two, then we must immediately get about the task of creating a new party,” Williamson wrote.
DENVER , Dec. 18, 2024 /PRNewswire/ - The Board of Trustees (the "Board") of Principal Real Estate Income Fund (the "Fund"), announced today that it has approved a renewal of the Fund's share repurchase program. Under the share repurchase program, the Fund may purchase up to approximately 2.1% of its outstanding common shares beginning January 21, 2025 , in the open market, until January 21, 2026 . As part of its evaluation of options to enhance shareholder value, the Board has authorized ALPS Advisors, Inc. (the "Advisor") to repurchase the Fund's common shares at such times and in such amounts as the Advisor reasonably believes may enhance shareholder value. The Board and the Advisor continually analyze options to enhance shareholder value and potentially reduce the discount between the market price of the Fund's common share and the net asset value per share ("NAV"). The Board and the Advisor believe that the share repurchase program may further these goals because the program allows the Fund to acquire its shares in the open market at a discount to NAV, which will increase the NAV and thereby benefit remaining shareholders while potentially providing additional liquidity in the trading of the fund shares. The Board will monitor the repurchase program and will continue to consider strategic options to enhance shareholder value in the long-term. The Fund's repurchase program will be implemented on a discretionary basis under the direction of the Advisor. There is no assurance that the Fund will purchase shares at any specific discount level or in any specific amount or that the market price of the Fund's shares will increase as a result of any share repurchases. RISKS 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. 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 20,000 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 $26.24 billion under management as of September 30, 2024 , 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 SS&C Technologies Principal Real Estate Investors manages or sub-advises $102 billion in commercial real estate assets, as of September 30, 2024 . 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 ® . PRE000436 12/18/2025 View original content: https://www.prnewswire.com/news-releases/principal-real-estate-income-fund-continues-share-repurchase-program-302335508.html SOURCE Principal Real Estate Income Fund
The S&P 500 fell less than 0.1% after spending the day wavering between small gains and losses. The tiny loss ended the benchmark index’s three-day winning streak. The Dow Jones Industrial Average added 0.1% and the Nasdaq composite fell 0.1%. Trading volume was lighter than usual as US markets reopened following the Christmas holiday. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, slipped 0.2%. Meta Platforms fell 0.7%, and Amazon and Netflix each fell 0.9%. Tesla was among the biggest decliners in the S&P 500, finishing 1.8% lower. Some tech companies fared better. Chip company Broadcom rose 2.4%, Micron Technology added 0.6% and Adobe gained 0.5%. Health care stocks were a bright spot. CVS Health rose 1.5% and Walgreens Boots Alliance added 5.3% for the biggest gain among S&P 500 stocks. Several retailers also gained ground. Target rose 3%, Ross Stores added 2.3%, Best Buy rose 2.9% and Dollar Tree gained 3.8%. Traders are watching to see whether retailers have a strong holiday season. The day after Christmas traditionally ranks among the top 10 biggest shopping days of the year, as consumers go online or rush to stores to cash in gift cards and raid bargain bins. US-listed shares in Honda and Nissan rose 4.1% and 16.4% respectively. The Japanese car makers announced earlier this week that the two companies are in talks to combine. All told, the S&P 500 fell 2.45 points to 6,037.59. The Dow added 28.77 points to 43,325.80. The Nasdaq fell 10.77 points to close at 20,020.36. Wall Street also got a labour market update. US applications for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years, the Labour Department reported. Treasury yields mostly fell in the bond market. The yield on the 10-year Treasury slipped to 4.58% from 4.59% late on Tuesday. Major European markets were closed, as well as Hong Kong, Australia, New Zealand and Indonesia. Trading was expected to be subdued this week with a thin slate of economic data on the calendar.
Musk and Trump are viewed roughly the same by Americans, an AP-NORC poll finds