PGIM Real Estate Income Fund
Schedule of Investments as of July 31, 2021 (unaudited)
Description | Shares | Value | |||
Long-Term Investments 99.7% | |||||
Common Stocks 80.1% | |||||
Diversified Real Estate Activities 6.1% | |||||
Hang Lung Properties Ltd. (Hong Kong) | 517,823 | $1,339,952 | |||
New World Development Co. Ltd. (Hong Kong) | 326,940 | 1,552,268 | |||
2,892,220 | |||||
Diversified REITs 5.6% | |||||
Activia Properties, Inc. (Japan) | 117 | 530,712 | |||
Essential Properties Realty Trust, Inc. | 42,825 | 1,276,185 | |||
Stockland (Australia) | 266,047 | 861,813 | |||
2,668,710 | |||||
Health Care REITs 18.1% | |||||
CareTrust REIT, Inc. | 70,398 | 1,698,000 | |||
Community Healthcare Trust, Inc. | 27,281 | 1,359,412 | |||
Global Medical REIT, Inc. | 150,909 | 2,348,144 | |||
Omega Healthcare Investors, Inc. | 73,866 | 2,679,859 | |||
Welltower, Inc. | 6,592 | 572,581 | |||
8,657,996 | |||||
Hotel & Resort REITs 4.8% | |||||
MGM Growth Properties LLC (Class A Stock) | 60,410 | 2,283,498 | |||
Industrial REITs 2.5% | |||||
Mapletree Logistics Trust (Singapore) | 772,578 | 1,203,818 | |||
Office REITs 14.0% | |||||
Boston Properties, Inc. | 9,922 | 1,164,644 | |||
Columbia Property Trust, Inc. | 100,491 | 1,675,185 | |||
Highwoods Properties, Inc. | 36,280 | 1,730,193 | |||
Postal Realty Trust, Inc. (Class A Stock) | 108,886 | 2,092,789 | |||
6,662,811 | |||||
Real Estate Development 1.6% | |||||
CK Asset Holdings Ltd. (Hong Kong) | 111,392 | 759,286 | |||
Real Estate Operating Companies 2.6% | |||||
Swire Properties Ltd. (Hong Kong) | 443,076 | 1,261,008 | |||
Residential REITs 1.1% | |||||
Equity Residential | 6,018 | 506,294 |
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PGIM Real Estate Income Fund
Schedule of Investments as of July 31, 2021 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Retail REITs 23.7% | |||||
Agree Realty Corp. | 18,110 | $1,360,966 | |||
Japan Metropolitan Fund Investment Corp. (Japan) | 1,272 | 1,329,274 | |||
National Retail Properties, Inc. | 35,859 | 1,752,429 | |||
NETSTREIT Corp. | 94,148 | 2,443,141 | |||
Regency Centers Corp. | 20,425 | 1,335,999 | |||
Simon Property Group, Inc. | 13,759 | 1,740,789 | |||
Supermarket Income REIT PLC (United Kingdom) | 354,600 | 594,117 | |||
Urban Edge Properties | 40,366 | 766,954 | |||
11,323,669 | |||||
Total Common Stocks (cost $33,502,499) | 38,219,310 | ||||
Preferred Stocks 19.6% | |||||
Diversified REITs 9.6% | |||||
Armada Hoffler Properties, Inc., Series A, 6.750%, Maturing 06/18/24(oo) | 31,474 | 860,814 | |||
EPR Properties, Series G, 5.750%, Maturing 11/30/22(oo) | 65,611 | 1,677,017 | |||
Gladstone Commercial Corp., Series G, 6.000%, Maturing 06/28/26(oo) | 50,000 | 1,336,500 | |||
PS Business Parks, Inc., Series W, 5.200%, Maturing 10/20/21(oo) | 27,741 | 706,008 | |||
4,580,339 | |||||
Hotel & Resort REITs 2.9% | |||||
Pebblebrook Hotel Trust, Series H, 5.700%, Maturing 07/27/26(oo) | 55,000 | 1,391,500 | |||
Industrial REITs 1.5% | |||||
Rexford Industrial Realty, Inc., Series A, 5.875%, Maturing 08/16/21(oo) | 28,468 | 716,255 | |||
Residential REITs 5.6% | |||||
American Homes 4 Rent, Series G, 5.875%, Maturing 07/17/22(oo) | 45,180 | 1,189,137 |
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PGIM Real Estate Income Fund
Schedule of Investments as of July 31, 2021 (unaudited) (continued)
Description | Shares | Value | |||
Preferred Stocks (Continued) | |||||
Residential REITs (cont’d.) | |||||
Centerspace, Series C, 6.625%, Maturing 10/02/22(oo) | 27,444 | $721,503 | |||
UMH Properties, Inc., Series C, 6.750%, Maturing 07/26/22(oo) | 28,516 | 748,545 | |||
2,659,185 | |||||
Total Preferred Stocks (cost $8,880,245) | 9,347,279 | ||||
Total Long-Term Investments (cost $42,382,744) | 47,566,589 | ||||
Short-Term Investments 0.2% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Ultra Short Bond Fund(wa) | 81,857 | 81,857 | |||
PGIM Institutional Money Market Fund(wa) | 7 | 8 | |||
Total Short-Term Investments (cost $81,865) | 81,865 | ||||
TOTAL INVESTMENTS 99.9% (cost $42,464,609) | 47,648,454 | ||||
Other assets in excess of liabilities 0.1% | 50,083 | ||||
Net Assets 100.0% | $47,698,537 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
REITs—Real Estate Investment Trust |
(oo) | Perpetual security. Maturity date represents next call date. |
(wa) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund, if applicable. |
Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
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