PRKZX: PGIM Real Estate Income Z

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PRKZX PGIM Real Estate Income Z


Profile

PRKZX - Profile

Vitals

  • YTD Return -24.7%
  • 3 Yr Annualized Return -7.7%
  • 5 Yr Annualized Return -5.0%
  • Net Assets $9.25 M
  • Holdings in Top 10 45.6%

52 WEEK LOW AND HIGH

$7.67
$5.61
$10.76

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.31%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 257.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Real Estate

Distributions

  • YTD Total Return -24.7%
  • 3 Yr Annualized Total Return -7.7%
  • 5 Yr Annualized Total Return -5.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.17%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    PGIM Real Estate Income Fund
  • Fund Family Name
    PGIM Funds (Prudential)
  • Inception Date
    Jun 03, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Gallagher

Fund Description

The fund seeks to achieve its investment objective by investing primarily in real estate securities that the subadviser believes offer the potential for income. It normally invests at least 80% of its investable assets in equity and equity-related securities of real estate companies, principally real estate investment trusts (REITs), and other real estate securities. The term "investable assets" refers to the fund's net assets plus any borrowings for investment purposes. The fund is non-diversified.


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Categories

Performance

PRKZX - Performance

Return Ranking - Trailing

Period PRKZX Return Category Return Low Category Return High Rank in Category (%)
YTD -24.7% -36.4% 5.5% 93.21%
1 Yr -24.3% -54.6% 21.5% 82.58%
3 Yr -7.7%* -23.8% 10.0% 70.51%
5 Yr -5.0%* -23.4% 8.3% 61.62%
10 Yr N/A* -8.3% 6.4% N/A

* Annualized

Return Ranking - Calendar

Period PRKZX Return Category Return Low Category Return High Rank in Category (%)
2019 24.4% -22.7% 43.1% 20.62%
2018 -14.6% -44.0% 2.2% 80.25%
2017 1.3% -16.4% 25.4% 45.45%
2016 4.9% -28.0% 12.5% 8.17%
2015 N/A -19.4% 2.4% N/A

Total Return Ranking - Trailing

Period PRKZX Return Category Return Low Category Return High Rank in Category (%)
YTD -24.7% -36.4% 5.5% 93.21%
1 Yr -24.3% -54.6% 21.5% 82.58%
3 Yr -7.7%* -23.0% 10.0% 85.90%
5 Yr -5.0%* -16.6% 8.3% 84.85%
10 Yr N/A* -4.4% 10.5% N/A

* Annualized

Total Return Ranking - Calendar

Period PRKZX Return Category Return Low Category Return High Rank in Category (%)
2019 24.4% -22.7% 43.1% 20.62%
2018 -14.6% -43.3% 2.2% 88.48%
2017 1.3% -13.6% 31.4% 81.82%
2016 4.9% -12.3% 12.5% 47.60%
2015 N/A -15.2% 7.7% N/A

NAV & Total Return History


Holdings

PRKZX - Holdings

Concentration Analysis

PRKZX Category Low Category High PRKZX % Rank
Net Assets 9.25 M 1.25 M 55.8 B 94.90%
Number of Holdings 40 21 632 62.32%
Net Assets in Top 10 4.07 M 621 K 27 B 95.29%
Weighting of Top 10 45.63% 11.0% 79.3% 81.20%

Top 10 Holdings

  1. Stockland Corp Ltd 6.23%
  2. MGM Growth Properties LLC A 6.00%
  3. Omega Healthcare Investors Inc 5.47%
  4. Brandywine Realty Trust 5.02%
  5. Global Medical REIT Inc 4.92%
  6. Four Corners Property Trust Inc 4.30%
  7. Physicians Realty Trust 3.77%
  8. American Homes 4 Rent 5.875 % Cum Conv Red Pfd Registered Shs of BenefInter 3.45%
  9. Healthpeak Properties Inc 3.41%
  10. New World Development Co Ltd 3.06%

Asset Allocation

Weighting Return Low Return High PRKZX % Rank
Stocks
71.92% 2.17% 104.60% 88.04%
Preferred Stocks
24.76% 0.00% 47.56% 2.90%
Cash
1.84% -169.14% 37.65% 35.51%
Other
1.48% -0.92% 93.58% 13.41%
Convertible Bonds
0.00% 0.00% 6.83% 58.33%
Bonds
0.00% -3.82% 153.60% 59.42%

Stock Sector Breakdown

Weighting Return Low Return High PRKZX % Rank
Real Estate
100.00% 43.26% 100.00% 23.31%
Utilities
0.00% 0.00% 6.61% 56.39%
Technology
0.00% 0.00% 14.99% 59.02%
Industrials
0.00% 0.00% 9.95% 59.40%
Healthcare
0.00% 0.00% 0.33% 56.77%
Financial Services
0.00% 0.00% 37.05% 62.41%
Energy
0.00% 0.00% 1.84% 55.64%
Communication Services
0.00% 0.00% 2.48% 55.64%
Consumer Defense
0.00% 0.00% 0.24% 54.89%
Consumer Cyclical
0.00% 0.00% 27.49% 73.68%
Basic Materials
0.00% 0.00% 5.57% 55.26%

Stock Geographic Breakdown

Weighting Return Low Return High PRKZX % Rank
US
43.21% 2.17% 103.97% 90.22%
Non US
28.71% 0.00% 28.71% 1.09%

Expenses

PRKZX - Expenses

Operational Fees

PRKZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.31% 0.07% 19.12% 18.70%
Management Fee 0.80% 0.00% 1.67% 61.59%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

PRKZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 6.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PRKZX 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.

PRKZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 257.00% 1.54% 257.00% 99.63%

Distributions

PRKZX - Distributions

Dividend Yield Analysis

PRKZX Category Low Category High PRKZX % Rank
Dividend Yield 0.00% 0.00% 7.58% 57.61%

Dividend Distribution Analysis

PRKZX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Quarterly

Net Income Ratio Analysis

PRKZX Category Low Category High PRKZX % Rank
Net Income Ratio 3.17% -0.10% 5.67% 9.96%

Capital Gain Distribution Analysis

PRKZX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

PRKZX - Fund Manager Analysis

Managers

Michael Gallagher


Start Date

Tenure

Tenure Rank

Jun 03, 2015

5.08

5.1%

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.

Rick Romano


Start Date

Tenure

Tenure Rank

Jun 03, 2015

5.08

5.1%

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.

Kwok Cheong


Start Date

Tenure

Tenure Rank

Jun 03, 2015

5.08

5.1%

Kwok Wing Cheong, CFA, is an Executive Director and Portfolio Manager for PGIM Real Estate and is responsible for the management of the group's public securities investments in Asia. He has spent more than 20 years in the industry as a portfolio manager and equity analyst. Prior to joining Prudential, Mr. Cheong was with HSBC Global Asset Management where he was responsible for their Singapore and Thailand dedicated country fund and was part of the team overseeing the HSBC Asia Ex-Japan mandate. Between 1991 and 2005, Mr. Cheong was an equity analyst at UBS Securities, Merrill Lynch and OUB Securities. He holds a Bachelor of Business (Accounting) from Curtin University (Australia), is a CFA charterholder and a Certified Practicing Accountant (CPA).

Daniel Cooney


Start Date

Tenure

Tenure Rank

Jun 11, 2018

2.05

2.1%

Daniel Cooney, CFA, is a Vice President and Portfolio Manager assisting in the investment management and operations of PGIM’s Global REIT securities portfolios focusing on US and Canadian 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

0.13

0.1%

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).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 26.51 8.67 0.5