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PGIM US Real Estate Fund
mutual fund
PJEQX
Payout Change
Pending
Price as of:
$15.53
+0.14
+0.91%
primary theme
Real Estate Sector Equity
share class
PJEQX (Mutual Fund)
PGIM US Real Estate Fund
Payout Change
Pending
Price as of:
$15.53
+0.14
+0.91%
primary theme
Real Estate Sector Equity
share class
PJEQX (Mutual Fund)
PGIM US Real Estate Fund
Payout Change
Pending
Price as of:
$15.53
+0.14
+0.91%
primary theme
Real Estate Sector Equity
share class
Name
As of 12/24/2024Price
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
13.6%
1 yr return
13.3%
3 Yr Avg Return
-0.4%
5 Yr Avg Return
6.5%
Net Assets
$126 M
Holdings in Top 10
57.0%
52 WEEK LOW AND HIGH
$15.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.01%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 132.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
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
PJEQX - Profile
Distributions
- YTD Total Return 13.6%
- 3 Yr Annualized Total Return -0.4%
- 5 Yr Annualized Total Return 6.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.30%
- Dividend Yield 1.8%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NamePGIM US Real Estate Fund
-
Fund Family NamePrudential
-
Inception DateMay 25, 2017
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRick Romano
Fund Description
The Fund seeks to achieve its investment objective by investing in investments whose price will increase over time and which will pay the Fund dividends and other income, such as capital gains. The Fund normally invests at least 80% of its investable assets (net assets plus any borrowings made for investment purposes) in the equity-related securities of real estate companies operating in the United States, principally real estate investment trusts (“REITs”) and other real estate securities. The Fund may invest up to 20% of its investable assets in other securities, including equity-related securities of foreign real estate companies. The Fund concentrates its investments (i.e., invests at least 25% of its total assets) in the real estate sector. The Fund is “non-diversified” for purposes of the Investment Company Act of 1940,as amended (the “1940 Act”), which means that it can invest a greater percentage of its assets in fewer issuers than a “diversified” fund.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. Approximately 10% of institutional quality commercial real estate is publicly traded, and the subadviser believes 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. The decision to sell a security is based on the subadviser’s assessment of relative risk adjusted return for the security.
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PJEQX - Performance
Return Ranking - Trailing
| Period | PJEQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 13.6% | -12.5% | 17.2% | 3.36% |
| 1 Yr | 13.3% | -12.5% | 17.8% | 3.36% |
| 3 Yr | -0.4%* | -13.7% | 4.8% | 12.29% |
| 5 Yr | 6.5%* | -12.6% | 12.7% | 3.15% |
| 10 Yr | N/A* | -2.5% | 13.4% | 17.76% |
* Annualized
Return Ranking - Calendar
| Period | PJEQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.8% | -16.2% | 24.6% | 2.11% |
| 2022 | -29.5% | -51.3% | 2.5% | 36.02% |
| 2021 | 34.6% | -7.7% | 52.3% | 33.62% |
| 2020 | -6.4% | -42.2% | 35.0% | 31.53% |
| 2019 | 25.9% | 0.0% | 43.1% | 10.70% |
Total Return Ranking - Trailing
| Period | PJEQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 13.6% | -12.5% | 17.2% | 3.36% |
| 1 Yr | 13.3% | -12.5% | 17.8% | 3.36% |
| 3 Yr | -0.4%* | -13.7% | 4.8% | 12.29% |
| 5 Yr | 6.5%* | -12.6% | 12.7% | 3.15% |
| 10 Yr | N/A* | -2.5% | 13.4% | 17.05% |
* Annualized
Total Return Ranking - Calendar
| Period | PJEQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 15.9% | -13.7% | 25.0% | 8.86% |
| 2022 | -27.3% | -40.7% | 7.8% | 66.10% |
| 2021 | 48.1% | 7.8% | 54.6% | 8.94% |
| 2020 | -4.9% | -36.6% | 44.3% | 51.80% |
| 2019 | 33.7% | 4.1% | 46.4% | 8.84% |
NAV & Total Return History
PJEQX - Holdings
Concentration Analysis
| PJEQX | Category Low | Category High | PJEQX % Rank | |
|---|---|---|---|---|
| Net Assets | 126 M | 2.26 M | 70.8 B | 72.29% |
| Number of Holdings | 36 | 22 | 548 | 66.81% |
| Net Assets in Top 10 | 65.7 M | 1.29 M | 32.8 B | 74.79% |
| Weighting of Top 10 | 57.03% | 13.2% | 82.2% | 30.25% |
Top 10 Holdings
- Welltower Inc 9.18%
- Prologis Inc 8.70%
- Equinix Inc 8.16%
- Simon Property Group Inc 5.94%
- Digital Realty Trust Inc 5.87%
- Extra Space Storage Inc 4.43%
- Essential Properties Realty Trust Inc 3.87%
- NNN REIT Inc 3.67%
- Iron Mountain Inc 3.66%
- Public Storage 3.56%
Asset Allocation
| Weighting | Return Low | Return High | PJEQX % Rank | |
|---|---|---|---|---|
| Stocks | 99.17% | 0.00% | 100.25% | 35.71% |
| Cash | 1.54% | -42.50% | 24.34% | 34.45% |
| Preferred Stocks | 0.00% | 0.00% | 31.13% | 46.64% |
| Other | 0.00% | -82.45% | 106.21% | 49.58% |
| Convertible Bonds | 0.00% | 0.00% | 10.95% | 40.08% |
| Bonds | 0.00% | 0.00% | 149.68% | 43.28% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PJEQX % Rank | |
|---|---|---|---|---|
| Real Estate | 98.06% | 34.46% | 100.00% | 73.01% |
| Communication Services | 1.94% | 0.00% | 11.61% | 2.21% |
| Utilities | 0.00% | 0.00% | 3.55% | 36.28% |
| Technology | 0.00% | 0.00% | 12.02% | 51.33% |
| Industrials | 0.00% | 0.00% | 7.39% | 41.15% |
| Healthcare | 0.00% | 0.00% | 0.53% | 38.05% |
| Financial Services | 0.00% | 0.00% | 37.05% | 42.92% |
| Energy | 0.00% | 0.00% | 33.11% | 38.50% |
| Consumer Defense | 0.00% | 0.00% | 0.93% | 36.28% |
| Consumer Cyclical | 0.00% | 0.00% | 45.29% | 57.96% |
| Basic Materials | 0.00% | 0.00% | 13.69% | 39.82% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PJEQX % Rank | |
|---|---|---|---|---|
| US | 99.17% | 0.00% | 100.25% | 29.41% |
| Non US | 0.00% | 0.00% | 36.61% | 42.44% |
PJEQX - Expenses
Operational Fees
| PJEQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.01% | 0.07% | 8.91% | 60.85% |
| Management Fee | 0.75% | 0.00% | 1.50% | 49.58% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.45% | N/A |
Sales Fees
| PJEQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| PJEQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| PJEQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 132.00% | 0.11% | 380.00% | 93.24% |
PJEQX - Distributions
Dividend Yield Analysis
| PJEQX | Category Low | Category High | PJEQX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.85% | 0.00% | 13.03% | 73.95% |
Dividend Distribution Analysis
| PJEQX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Monthly | Quarterly |
Net Income Ratio Analysis
| PJEQX | Category Low | Category High | PJEQX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.30% | -1.14% | 6.05% | 36.17% |
Capital Gain Distribution Analysis
| PJEQX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 17, 2024 | $0.071 | OrdinaryDividend |
| Jul 18, 2024 | $0.071 | OrdinaryDividend |
| Apr 18, 2024 | $0.080 | OrdinaryDividend |
| Jan 18, 2024 | $0.082 | OrdinaryDividend |
| Oct 19, 2023 | $0.075 | OrdinaryDividend |
| Jul 13, 2023 | $0.024 | OrdinaryDividend |
| Apr 13, 2023 | $0.076 | OrdinaryDividend |
| Jan 19, 2023 | $0.055 | OrdinaryDividend |
| Dec 15, 2022 | $0.039 | CapitalGainShortTerm |
| Dec 15, 2022 | $0.134 | CapitalGainLongTerm |
| Oct 13, 2022 | $0.127 | OrdinaryDividend |
| Jul 14, 2022 | $0.045 | OrdinaryDividend |
| Apr 14, 2022 | $0.045 | OrdinaryDividend |
| Jan 13, 2022 | $0.006 | OrdinaryDividend |
| Dec 15, 2021 | $0.043 | OrdinaryDividend |
| Dec 15, 2021 | $0.915 | CapitalGainShortTerm |
| Dec 15, 2021 | $0.594 | CapitalGainLongTerm |
| Oct 14, 2021 | $0.046 | OrdinaryDividend |
| Jul 15, 2021 | $0.046 | OrdinaryDividend |
| Apr 15, 2021 | $0.017 | OrdinaryDividend |
| Dec 15, 2020 | $0.062 | OrdinaryDividend |
| Oct 15, 2020 | $0.048 | OrdinaryDividend |
| Jul 16, 2020 | $0.044 | OrdinaryDividend |
| Apr 16, 2020 | $0.047 | OrdinaryDividend |
| Dec 16, 2019 | $0.063 | OrdinaryDividend |
| Dec 16, 2019 | $0.455 | CapitalGainShortTerm |
| Dec 16, 2019 | $0.159 | CapitalGainLongTerm |
| Oct 17, 2019 | $0.044 | OrdinaryDividend |
| Jul 18, 2019 | $0.064 | OrdinaryDividend |
| Apr 11, 2019 | $0.047 | OrdinaryDividend |
| Dec 14, 2018 | $0.073 | OrdinaryDividend |
| Dec 14, 2018 | $0.147 | CapitalGainShortTerm |
| Dec 14, 2018 | $0.230 | CapitalGainLongTerm |
| Oct 18, 2018 | $0.053 | OrdinaryDividend |
| Jul 19, 2018 | $0.049 | OrdinaryDividend |
| Apr 12, 2018 | $0.043 | OrdinaryDividend |
| Dec 14, 2017 | $0.078 | OrdinaryDividend |
| Dec 14, 2017 | $0.003 | CapitalGainShortTerm |
| Dec 14, 2017 | $0.592 | CapitalGainLongTerm |
| Oct 19, 2017 | $0.050 | OrdinaryDividend |
| Jul 13, 2017 | $0.033 | OrdinaryDividend |
PJEQX - Fund Manager Analysis
Managers
Rick Romano
Start Date
Tenure
Tenure Rank
Dec 21, 2010
11.45
11.5%
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.
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.
Samit Parikh
Start Date
Tenure
Tenure Rank
May 27, 2022
0.01
0.0%
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 |
|---|---|---|---|
| 0.01 | 28.42 | 8.32 | 2.68 |
