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PGIM GLOBAL REAL ESTATE FUND
mutual fund
PGRQX
Payout Change
Pending
Price as of:
$19.31
+0.08
+0.42%
primary theme
International Real Estate
share class
PGRQX (Mutual Fund)
PGIM GLOBAL REAL ESTATE FUND
Payout Change
Pending
Price as of:
$19.31
+0.08
+0.42%
primary theme
International Real Estate
share class
PGRQX (Mutual Fund)
PGIM GLOBAL REAL ESTATE FUND
Payout Change
Pending
Price as of:
$19.31
+0.08
+0.42%
primary theme
International Real Estate
share class
Name
As of 12/23/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
3.6%
1 yr return
4.6%
3 Yr Avg Return
-4.4%
5 Yr Avg Return
1.1%
Net Assets
$1.03 B
Holdings in Top 10
34.6%
52 WEEK LOW AND HIGH
$19.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.82%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 149.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/23/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
PGRQX - Profile
Distributions
- YTD Total Return 3.6%
- 3 Yr Annualized Total Return -4.4%
- 5 Yr Annualized Total Return 1.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.50%
- Dividend Yield 3.3%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NamePGIM GLOBAL REAL ESTATE FUND
-
Fund Family NamePGIM Funds (Prudential)
-
Inception DateAug 23, 2013
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRick Romano
Fund Description
The Fund seeks investments whose price will increase over time and which will pay the Fund dividends and other income. The Fund normally invests at least 80% of its investable assets (net assets plus any borrowings made for investment purposes) in equity-related securities of real estate companies, principally real estate investment trusts (“REITs”), and other real estate securities. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. Equity-related securities may also include common stock, convertible securities, nonconvertible preferred stock, American Depositary Receipts (“ADRs”), warrants and other rights that can be exercised to obtain stock, investments in various types of business ventures and similar securities. The Fund invests globally in real estate investments. There is no limit on the amount of Fund assets that may be invested in the securities of foreign real estate companies. Under normal circumstances, the Fund invests in at least three different countries and at least 40% of its investable assets in foreign securities, including emerging markets. The Fund's investments in foreign securities may be lower if market conditions are not favorable, but such investments will not be lower than 30% of the Fund's investable assets. In determining whether market conditions are not favorable, the Fund may take into account various factors, including among other things, the foreign securities exposure in the Fund's primary or secondary benchmark index. It is possible that market conditions that are not favorable (and foreign securities exposure as low as 30%) may occur periodically and continue for extended periods of time. The Fund utilizes the domicile of listing to determine whether a security is foreign. Emerging markets are considered to be those countries that the World Bank, the International Finance Corporation, or the United Nations or its authorities has determined to have a low or middle income economy. The Fund concentrates its investments in real estate securities, including REITs, which means that the Fund invests at least 25% of its total assets in real estate securities. The subadviser's approach to real estate investing is value-oriented based upon real estate fundamentals and assessments of management teams. The subadviser emphasizes both quantitative and qualitative investment analysis, and focuses on valuation relative to a company's underlying real estate assets as well as a company's on-going concern valuation. Through detailed company research that includes regular management visits, property tours and financial analysis, the subadviser analyzes the quality of real estate asset cash flows and sustainability and growth of company dividends. The subadviser also evaluates the company's strategy, management's track record, incentives and ability to create long term shareholder value. Only about 10% of institutional quality commercial real estate is publicly traded, and the subadviser believes that public real estate securities managers need a firm understanding of the other 90%—the private real estate markets—to successfully add value. Decisions to sell portfolio securities are based on relative analysis which entails examination of a variety of factors, including the subadviser's assessment of relative risk adjusted return for the securities.
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PGRQX - Performance
Return Ranking - Trailing
| Period | PGRQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.6% | -18.2% | 30.6% | 13.29% |
| 1 Yr | 4.6% | -16.9% | 30.5% | 13.29% |
| 3 Yr | -4.4%* | -20.5% | 2.0% | 26.35% |
| 5 Yr | 1.1%* | -11.4% | 13.7% | 32.52% |
| 10 Yr | 3.7%* | -3.9% | 10.2% | 33.88% |
* Annualized
Return Ranking - Calendar
| Period | PGRQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.6% | -16.8% | 16.7% | 45.61% |
| 2022 | -28.3% | -39.5% | 4.5% | 55.09% |
| 2021 | 8.7% | -0.9% | 30.7% | 85.89% |
| 2020 | -6.2% | -19.7% | 13.7% | 49.08% |
| 2019 | 9.6% | 1.0% | 26.5% | 82.10% |
Total Return Ranking - Trailing
| Period | PGRQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.6% | -18.2% | 30.6% | 13.29% |
| 1 Yr | 4.6% | -16.9% | 30.5% | 13.29% |
| 3 Yr | -4.4%* | -20.5% | 2.0% | 26.35% |
| 5 Yr | 1.1%* | -11.4% | 13.7% | 32.52% |
| 10 Yr | 3.7%* | -3.9% | 10.2% | 33.88% |
* Annualized
Total Return Ranking - Calendar
| Period | PGRQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.4% | -14.6% | 23.4% | 32.75% |
| 2022 | -26.6% | -39.5% | 10.1% | 65.27% |
| 2021 | 28.1% | 5.7% | 101.8% | 34.36% |
| 2020 | -4.3% | -17.8% | 14.7% | 49.08% |
| 2019 | 28.9% | 4.3% | 37.2% | 17.90% |
NAV & Total Return History
PGRQX - Holdings
Concentration Analysis
| PGRQX | Category Low | Category High | PGRQX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.03 B | 4.27 M | 7.6 B | 22.35% |
| Number of Holdings | 83 | 5 | 691 | 42.20% |
| Net Assets in Top 10 | 307 M | 2.13 M | 4.45 B | 29.48% |
| Weighting of Top 10 | 34.57% | 20.1% | 63.7% | 81.98% |
Top 10 Holdings
- Prologis Inc 6.89%
- Welltower Inc 4.79%
- Equinix Inc 4.74%
- Digital Realty Trust Inc 3.27%
- Simon Property Group Inc 2.96%
- Mitsui Fudosan Co Ltd 2.59%
- Goodman Group 2.45%
- Iron Mountain Inc 2.31%
- Essential Properties Realty Trust Inc 2.30%
- Extra Space Storage Inc 2.28%
Asset Allocation
| Weighting | Return Low | Return High | PGRQX % Rank | |
|---|---|---|---|---|
| Stocks | 99.33% | 3.62% | 126.54% | 30.06% |
| Cash | 0.77% | 0.00% | 11.23% | 78.03% |
| Preferred Stocks | 0.00% | 0.00% | 7.25% | 90.75% |
| Other | 0.00% | -33.49% | 101.32% | 88.44% |
| Convertible Bonds | 0.00% | 0.00% | 0.07% | 89.02% |
| Bonds | 0.00% | 0.00% | 22.09% | 90.17% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PGRQX % Rank | |
|---|---|---|---|---|
| Real Estate | 99.00% | 72.53% | 100.00% | 35.50% |
| Consumer Cyclical | 1.00% | 0.00% | 13.03% | 36.09% |
| Utilities | 0.00% | 0.00% | 0.96% | 89.94% |
| Technology | 0.00% | 0.00% | 4.92% | 91.72% |
| Industrials | 0.00% | 0.00% | 4.91% | 91.72% |
| Healthcare | 0.00% | 0.00% | 1.54% | 91.12% |
| Financial Services | 0.00% | 0.00% | 9.53% | 93.49% |
| Energy | 0.00% | 0.00% | 0.11% | 88.76% |
| Communication Services | 0.00% | 0.00% | 10.08% | 95.86% |
| Consumer Defense | 0.00% | 0.00% | 0.18% | 89.94% |
| Basic Materials | 0.00% | 0.00% | 1.63% | 89.94% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PGRQX % Rank | |
|---|---|---|---|---|
| US | 63.80% | 0.00% | 102.00% | 42.77% |
| Non US | 35.52% | 0.00% | 99.07% | 45.09% |
PGRQX - Expenses
Operational Fees
| PGRQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.82% | 0.10% | 36.96% | 86.71% |
| Management Fee | 0.75% | 0.09% | 1.50% | 44.19% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.25% | N/A |
Sales Fees
| PGRQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| PGRQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PGRQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 149.00% | 1.00% | 165.00% | 88.69% |
PGRQX - Distributions
Dividend Yield Analysis
| PGRQX | Category Low | Category High | PGRQX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.27% | 0.00% | 5.52% | 39.88% |
Dividend Distribution Analysis
| PGRQX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| PGRQX | Category Low | Category High | PGRQX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.50% | -0.23% | 3.84% | 43.53% |
Capital Gain Distribution Analysis
| PGRQX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 13, 2024 | $0.157 | OrdinaryDividend |
| Oct 18, 2024 | $0.104 | OrdinaryDividend |
| Jul 19, 2024 | $0.156 | OrdinaryDividend |
| Apr 19, 2024 | $0.130 | OrdinaryDividend |
| Dec 15, 2023 | $0.138 | OrdinaryDividend |
| Oct 20, 2023 | $0.109 | OrdinaryDividend |
| Jul 14, 2023 | $0.110 | OrdinaryDividend |
| Apr 14, 2023 | $0.101 | OrdinaryDividend |
| Jan 20, 2023 | $0.003 | OrdinaryDividend |
| Dec 16, 2022 | $0.082 | OrdinaryDividend |
| Oct 14, 2022 | $0.164 | OrdinaryDividend |
| Jul 15, 2022 | $0.102 | OrdinaryDividend |
| Apr 18, 2022 | $0.073 | OrdinaryDividend |
| Dec 17, 2021 | $3.924 | OrdinaryDividend |
| Oct 15, 2021 | $0.084 | OrdinaryDividend |
| Jul 16, 2021 | $0.147 | OrdinaryDividend |
| Apr 16, 2021 | $0.046 | OrdinaryDividend |
| Dec 18, 2020 | $0.100 | OrdinaryDividend |
| Oct 16, 2020 | $0.095 | OrdinaryDividend |
| Jul 17, 2020 | $0.128 | OrdinaryDividend |
| Apr 17, 2020 | $0.094 | OrdinaryDividend |
| Dec 19, 2019 | $0.963 | OrdinaryDividend |
| Dec 19, 2019 | $0.834 | Extra |
| Dec 19, 2019 | $0.512 | CapitalGainShortTerm |
| Dec 19, 2019 | $1.478 | CapitalGainLongTerm |
| Oct 18, 2019 | $0.092 | OrdinaryDividend |
| Jul 19, 2019 | $0.179 | OrdinaryDividend |
| Apr 12, 2019 | $0.100 | OrdinaryDividend |
| Dec 19, 2018 | $0.164 | OrdinaryDividend |
| Dec 19, 2018 | $0.148 | ExtraDividend |
| Dec 19, 2018 | $0.381 | CapitalGainLongTerm |
| Oct 19, 2018 | $0.096 | OrdinaryDividend |
| Jul 20, 2018 | $0.193 | OrdinaryDividend |
| Apr 13, 2018 | $0.126 | OrdinaryDividend |
| Dec 19, 2017 | $0.258 | OrdinaryDividend |
| Dec 19, 2017 | $0.422 | CapitalGainLongTerm |
| Dec 19, 2017 | $0.222 | ExtraDividend |
| Oct 20, 2017 | $0.103 | OrdinaryDividend |
| Jul 14, 2017 | $0.177 | OrdinaryDividend |
| Apr 17, 2017 | $0.026 | OrdinaryDividend |
| Jan 20, 2017 | $0.006 | OrdinaryDividend |
| Dec 09, 2016 | $0.126 | OrdinaryDividend |
| Dec 09, 2016 | $0.248 | ExtraDividend |
| Dec 09, 2016 | $0.285 | CapitalGainLongTerm |
| Oct 21, 2016 | $0.118 | OrdinaryDividend |
| Jul 22, 2016 | $0.151 | OrdinaryDividend |
| Apr 15, 2016 | $0.174 | OrdinaryDividend |
| Dec 16, 2015 | $0.086 | OrdinaryDividend |
| Dec 16, 2015 | $0.381 | CapitalGainLongTerm |
| Oct 16, 2015 | $0.084 | OrdinaryDividend |
| Jul 17, 2015 | $0.194 | OrdinaryDividend |
| Jul 17, 2015 | $0.093 | ExtraDividend |
| Mar 20, 2015 | $0.025 | OrdinaryDividend |
| Dec 19, 2014 | $0.355 | OrdinaryDividend |
| Dec 19, 2014 | $0.187 | ExtraDividend |
| Sep 19, 2014 | $0.163 | OrdinaryDividend |
| Jun 20, 2014 | $0.049 | OrdinaryDividend |
| Dec 20, 2013 | $0.087 | OrdinaryDividend |
| Dec 20, 2013 | $0.092 | ExtraDividend |
PGRQX - Fund Manager Analysis
Managers
Rick Romano
Start Date
Tenure
Tenure Rank
Jan 31, 2007
15.34
15.3%
Rick J. Romano, CFA, is a Managing Director and Portfolio Manager for PGIM Real Estate. He is responsible for management of the group's North American public securities investments. Mr. Romano joined Prudential in 1998 from Rockefeller & Co., an investment management firm for the Rockefeller family and other high net worth clients. At Rockefeller & Co., Mr. Romano was an Equity Analyst for three investment partnerships. He was responsible for covering real estate and leisure stocks globally and served as a generalist covering domestic equity securities. Prior to joining Rockefeller & Co., Mr. Romano was a Senior Investment Analyst at the Prudential Realty Group where he worked on the valuation, asset management and portfolio management. Mr. Romano has served on the board of several private real estate companies. He is also a member of the CFA Institute (CFA), the New York Society of Security Analysts (NYSSA) and NAREIT. Mr. Romano received a BA from Rutgers College and a MBA in Finance from New York University's Stern School of Business. In addition, he is a CFA charter holder.
Michael Gallagher
Start Date
Tenure
Tenure Rank
Jun 10, 2013
8.98
9.0%
Michael Gallagher is a Executive Director for Prudential Real Estate Investors based in London. He is the Portfolio Manager for the European real estate securities. Mr. Gallagher has over 20 years of real estate experience and 16 years in the broader public markets. Prior to joining Prudential, Mr. Gallagher was the Assistant Fund Manager for Global Real Estate Securities at Aviva Investors (London) where he was responsible for portfolio construction and stock selection of European real estate securities. Prior to Aviva, Mr. Gallagher was a Vice President of Citigroup (London) where he covered diversified financials and the real estate sector. At Citigroup, Mr. Gallagher was responsible for modeling and research for companies under his coverage. Mr. Gallagher came to Citigroup from Deutsche Bank (London /Frankfurt) where he was a pan European equity analyst covering bank stocks and diversified German companies. Mr. Gallagher holds a BA in Economics from Harvard University, magna cum laude and was the recipient of the Harvard College Scholarship. Mr. Gallagher also holds a MA in International Political Economy from Cornell University where he was awarded the Mellon Foundation Scholarship. Mr. Gallagher speaks several languages including English (native), German, French, Italian and Portuguese.
Daniel Cooney
Start Date
Tenure
Tenure Rank
Jun 11, 2018
3.97
4.0%
Daniel Cooney, CFA, is an Executive Director and Portfolio Manager assisting in the investment management and operations of PGIM’s Global Real Estate Securities portfolios focusing on North American public securities. His responsibilities include fundamental investment research, securities analysis and assisting in portfolio management. Mr. Cooney joined Prudential in 2013 from RREEF, where he worked as a securities analyst in the global securities team. Prior to RREEF, Mr. Cooney worked as a Senior Equity REIT analyst at Keefe, Bruyette & Woods (KBW) in New York. Mr. Cooney is a member of the CFA Institute (CFA) and the New York Society of Security Analysts (NYSSA). Mr. Cooney earned a bachelor's degree in economics from Trinity College and is a CFA charter holder.
Alvin Chan
Start Date
Tenure
Tenure Rank
May 15, 2020
2.04
2.0%
Alvin Chan Mr. Chan is a Vice President and Portfolio Manager assisting in the investment management and operations of PGIM’s Global Real Estate securities portfolios focusing on Asian public securities. His responsibilities include fundamental investment research, securities analysis and assisting in portfolio management. Mr. Chan joined Prudential in 2016 from BlackRock where he worked as an equities analyst on the global real estate securities team. Prior to that, he had worked as a Senior Analyst at Principal Global Investors and Lasalle Investment Management. Mr. Chan started his career as an Equity Research Associate with UBS in Singapore. He holds a Bachelor of Science degree in Real Estate from the National University of Singapore and is a CFA charterholder. Mr. Chan is fluent in English and Mandarin (Chinese).
Samit Parikh
Start Date
Tenure
Tenure Rank
Dec 15, 2020
1.46
1.5%
Samit Parikh is a Managing Director at PGIM Real Estate and Head of International Investments for the Global Real Estate Securities business. Samit joined PGIM Real Estate in 2015 from Booth Park Capital Management, where he worked as a senior analyst for the global long / short real estate securities team. Prior to Booth Park, Samit was a senior equity analyst for #1 ranked REIT research team according to Institutional Investor magazine at the ISI Group. Mr. Parikh earned a bachelor's degree in finance from Rutgers University. He is a member of the International Council of Shopping Centers (ICSC) and National Association of Real Estate Investment Trusts (NAREIT).
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 20.42 | 7.13 | 10.42 |
