PGIM Real Estate Income Fund
Schedule of Investments as of July 31, 2023 (unaudited)
Description | Shares | Value | |||
Long-Term Investments 99.4% | |||||
Common Stocks 79.4% | |||||
Diversified Real Estate Activities 2.2% | |||||
Sun Hung Kai Properties Ltd. (Hong Kong) | 45,649 | $573,197 | |||
Diversified REITs 5.1% | |||||
Broadstone Net Lease, Inc. | 58,744 | 957,527 | |||
Land Securities Group PLC (United Kingdom) | 46,996 | 390,292 | |||
1,347,819 | |||||
Health Care REITs 8.3% | |||||
Community Healthcare Trust, Inc. | 23,037 | 811,824 | |||
Omega Healthcare Investors, Inc. | 43,777 | 1,396,486 | |||
2,208,310 | |||||
Hotel & Resort REITs 4.6% | |||||
Apple Hospitality REIT, Inc. | 79,634 | 1,234,327 | |||
Industrial REITs 9.2% | |||||
CapitaLand Ascendas REIT (Singapore) | 275,893 | 583,411 | |||
Frasers Logistics & Commercial Trust (Singapore) | 1,018,975 | 935,754 | |||
Nexus Industrial REIT (Canada) | 149,714 | 935,535 | |||
2,454,700 | |||||
Office REITs 8.3% | |||||
Boston Properties, Inc. | 10,659 | 710,209 | |||
Kilroy Realty Corp. | 41,582 | 1,484,478 | |||
2,194,687 | |||||
Real Estate Operating Companies 2.5% | |||||
Swire Properties Ltd. (Hong Kong) | 264,842 | 664,575 | |||
Residential REITs 2.2% | |||||
Apartment Income REIT Corp. | 16,715 | 577,336 | |||
Retail REITs 24.7% | |||||
Brixmor Property Group, Inc. | 43,421 | 987,394 | |||
Link REIT (Hong Kong) | 74,915 | 421,109 | |||
NETSTREIT Corp. | 34,052 | 609,190 | |||
Realty Income Corp. | 11,042 | 673,231 | |||
Region Re Ltd. (Australia) | 248,875 | 405,425 | |||
Scentre Group (Australia) | 314,633 | 595,378 |
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PGIM Real Estate Income Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Common Stocks (Continued) | |||||
Retail REITs (cont’d.) | |||||
Simon Property Group, Inc. | 10,660 | $1,328,236 | |||
Spirit Realty Capital, Inc. | 30,676 | 1,237,163 | |||
Supermarket Income REIT PLC (United Kingdom) | 298,014 | 291,707 | |||
6,548,833 | |||||
Specialized REITs 12.3% | |||||
Digital Realty Trust, Inc. | 11,084 | 1,381,288 | |||
National Storage Affiliates Trust | 21,628 | 730,810 | |||
VICI Properties, Inc. | 37,055 | 1,166,492 | |||
3,278,590 | |||||
Total Common Stocks (cost $21,480,610) | 21,082,374 | ||||
Preferred Stocks 20.0% | |||||
Diversified REITs 4.6% | |||||
Armada Hoffler Properties, Inc., Series A, 6.750%, Maturing 06/18/24(oo) | 23,704 | 550,644 | |||
Gladstone Commercial Corp., Series G, 6.000%, Maturing 06/28/26(oo) | 37,685 | 665,140 | |||
1,215,784 | |||||
Hotel & Resort REITs 2.9% | |||||
Pebblebrook Hotel Trust, Series H, 5.700%, Maturing 07/27/26(oo) | 43,972 | 778,304 | |||
Office REITs 3.2% | |||||
Vornado Realty Trust, Series M, 5.250%, Maturing 08/30/23(oo) | 56,377 | 843,400 | |||
Residential REITs 4.6% | |||||
American Homes 4 Rent, Series G, 5.875%, Maturing 08/30/23(oo) | 30,495 | 705,350 | |||
Centerspace, Series C, 6.625%, Maturing 08/30/23(oo) | 21,509 | 511,914 | |||
1,217,264 | |||||
Retail REITs 1.0% | |||||
Agree Realty Corp., Series A, 4.250%, Maturing 09/17/26(oo) | 15,000 | 269,028 |
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PGIM Real Estate Income Fund
Schedule of Investments as of July 31, 2023 (unaudited) (continued)
Description | Shares | Value | |||
Preferred Stocks (Continued) | |||||
Specialized REITs 3.7% | |||||
EPR Properties, Series G, 5.750%, Maturing 08/30/23(oo) | 50,317 | $980,678 | |||
Total Preferred Stocks (cost $5,998,392) | 5,304,458 | ||||
Total Long-Term Investments (cost $27,479,002) | 26,386,832 | ||||
Short-Term Investment 0.4% | |||||
Affiliated Mutual Fund | |||||
PGIM Core Government Money Market Fund (cost $113,502)(wj) | 113,502 | 113,502 | |||
TOTAL INVESTMENTS 99.8% (cost $27,592,504) | 26,500,334 | ||||
Other assets in excess of liabilities 0.2% | 44,477 | ||||
Net Assets 100.0% | $26,544,811 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
REITs—Real Estate Investment Trust | |
UTS—Unit Trust Security |
(oo) | Perpetual security. Maturity date represents next call date. |
(wj) | PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Government Money Market Fund. |
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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