NPORT-EX 2 PIPDLR0PRU022823.htm
PGIM Real Estate Income Fund
Schedule of Investments as of January 31, 2023 (unaudited)
Description     Shares Value
Long-Term Investments 98.9%
Common Stocks 82.5%
Diversified Real Estate Activities 2.3%
Sun Hung Kai Properties Ltd. (Hong Kong)       42,828  $607,371
Diversified REITs 10.6%
Daiwa House REIT Investment Corp. (Japan)       104 226,276
Essential Properties Realty Trust, Inc.       49,761 1,267,910
Land Securities Group PLC (United Kingdom)       44,091 386,273
Mirvac Group (Australia)       285,734 461,635
Nomura Real Estate Master Fund, Inc. (Japan)       341 398,788
          2,740,882
Health Care REITs 17.5%
Community Healthcare Trust, Inc.       32,952 1,412,982
Healthcare Realty Trust, Inc.       31,614 680,650
Medical Properties Trust, Inc.(a)       95,215 1,233,034
Omega Healthcare Investors, Inc.       41,071 1,209,130
          4,535,796
Hotel & Resort REITs 3.6%
Apple Hospitality REIT, Inc.       53,153 942,403
Industrial REITs 5.3%
CapitaLand Ascendas REIT (Singapore)       244,641 538,365
Nexus Industrial REIT (Canada)       102,730 829,993
          1,368,358
Office REITs 0.9%
Nippon Building Fund, Inc. (Japan)       54 236,000
Real Estate Operating Companies 1.6%
Swire Properties Ltd. (Hong Kong)       145,050 407,671
Residential REITs 3.6%
Equity Residential       7,074 450,260
Essex Property Trust, Inc.       943 213,184
UDR, Inc.       6,201 264,102
          927,546
Retail REITs 31.7%
Agree Realty Corp.       19,704 1,470,510
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PGIM Real Estate Income Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description     Shares Value
Common Stocks (Continued)
Retail REITs (cont’d.)
Brixmor Property Group, Inc.       28,873  $679,382
CapitaLand Integrated Commercial Trust (Singapore)       599,575 980,986
Japan Metropolitan Fund Investment Corp. (Japan)       3 2,319
Kimco Realty Corp.       19,781 444,281
Kite Realty Group Trust       30,555 663,043
Link REIT (Hong Kong)       58,177 465,670
National Retail Properties, Inc.       20,351 963,620
NETSTREIT Corp.       24,559 494,373
Scentre Group (Australia)       206,924 448,985
Spirit Realty Capital, Inc.       28,780 1,262,866
Supermarket Income REIT PLC (United Kingdom)       279,596 332,163
          8,208,198
Specialized REITs 5.4%
CubeSmart       13,742 629,246
Digital Realty Trust, Inc.       6,605 757,065
          1,386,311
     
 
Total Common Stocks
(cost $21,371,082) 		21,360,536
Preferred Stocks 16.4%
Diversified REITs 4.9%
Armada Hoffler Properties, Inc., Series A, 6.750%, Maturing 06/18/24(oo)       22,239 507,716
Gladstone Commercial Corp., Series G, 6.000%, Maturing 06/28/26(oo)       35,356 751,669
          1,259,385
Hotel & Resort REITs 3.1%
Pebblebrook Hotel Trust, Series H, 5.700%, Maturing 07/27/26(oo)       41,254 793,314
Residential REITs 4.7%
American Homes 4 Rent, Series G, 5.875%, Maturing 03/02/23(oo)       28,610 685,496
Centerspace, Series C, 6.625%, Maturing 03/02/23(oo)       20,180 538,806
          1,224,302
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PGIM Real Estate Income Fund
Schedule of Investments as of January 31, 2023 (unaudited) (continued)
Description     Shares Value
Preferred Stocks (Continued)
Specialized REITs 3.7%
EPR Properties, Series G, 5.750%, Maturing 03/02/23(oo)       47,207  $954,525
     
 
Total Preferred Stocks
(cost $4,715,494) 		4,231,526
     
 
 
Total Long-Term Investments
(cost $26,086,576) 		25,592,062
 
Short-Term Investments 2.2%
Affiliated Mutual Fund 1.3%
PGIM Institutional Money Market Fund
(cost $335,136; includes $334,052 of cash collateral for securities on loan)(b)(we) 		      335,268 335,201
Unaffiliated Fund 0.9%
Dreyfus Government Cash Management (Institutional Shares)
(cost $248,602) 		      248,602 248,602
     
 
 
Total Short-Term Investments
(cost $583,738) 		583,803
 
TOTAL INVESTMENTS 101.1%
(cost $26,670,314) 		26,175,865
Liabilities in excess of other assets (1.1)% (290,072)
 
Net Assets 100.0% $25,885,793
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
    
(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $330,225; cash collateral of $334,052 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Fund may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day.
(b) Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment.
(oo) Perpetual security. Maturity date represents next call date.
(we) PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Institutional 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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