Principal Credit Real Estate Income Trust 8-K

What Happened
Principal Credit Real Estate Income Trust filed an 8‑K reporting that on January 27, 2026 it sold 74 shares of its 12.0% Series A Cumulative Redeemable Preferred Shares at $1,000 per share (gross proceeds $74,000) and adopted a Fourth Amended and Restated Declaration of Trust effective January 26, 2026 that sets the rights and preferences of those Preferred Shares. The offering was made to help the Company reach at least 100 shareholders (a qualification for REIT status) and was exempt from registration under Section 4(a)(2) and Regulation D. The Company also declared a January 2026 distribution of $0.1350 per common share, payable on or about February 20, 2026 to holders of record as of January 30, 2026.

Key Details

• 74 Preferred Shares sold at $1,000 each; aggregate gross proceeds $74,000; commissions paid $12,000 (approx. 16.2% of proceeds).
• Preferred Shares pay a cumulative annual dividend of 12.0% on the $1,000 purchase price (payable annually in arrears).
• Preferred Shares are redeemable by the Company at $1,000 plus accrued unpaid dividends, and if redeemed on or before January 26, 2027, a $100 per-share redemption premium applies.
• The Company declared a gross distribution of $0.1350 per Common Share for January 2026 (cash or reinvestment), record date January 30, 2026, payment on or about February 20, 2026.

Why It Matters
These actions affect both capital structure and income distributions. The newly issued Preferred Shares add a fixed-income security with a stated 12.0% annual dividend and specific redemption and vote protections, while the small issuance (74 shares) and significant commission reduce net proceeds and mean the class is currently very limited in size. The stated purpose—raising shareholder count—relates directly to maintaining the Company’s tax status as a REIT. Separately, the declared monthly distribution informs common-share investors of the January payout amount and payment timing.