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PGRQX Prudential Global Real Estate Q

  • Fund
  • PGRQX
  • Price as of: Aug 08, 2016
  • $25.45
  • + $0.03
  • + 0.12%
  • Category
  • Global Real Estate

PGRQX - Profile

Vitals

  • YTD Return 7.5%
  • 3 Yr Annualized Return 8.6%
  • 5 Yr Annualized Return 8.2%
  • Net Assets $3.57 B
  • Holdings in Top 10 24.7%

52 WEEK LOW AND HIGH

$25.45
$21.39
$25.86

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.80%

SALES FEES

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

BROKERAGE FEES

  • Turnover 48.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$5,000,000

IRA

N/A

Investment Themes

CATEGORY

Global Real Estate
  • Fund Type Open End Mutual Fund
  • Investment Style Global Real Estate

Distributions

  • YTD Total Return 7.5%
  • 3 Yr Annualized Total Return 8.6%
  • 5 Yr Annualized Total Return 8.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.68%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Prudential Global Real Estate Fund
  • Fund Family Name Prudential Investments
  • Inception Date Aug 23, 2013
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Rick J. Romano

Fund Description

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, principally real estate investment trusts (REITs), and other real estate securities. 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. It is non-diversified.

PGRQX - Performance

Return Ranking - Trailing

Period PGRQX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 7.5% -6.2% 15.4% 62.84% 4
1 Yr 9.3% -11.5% 19.2% 56.52% 3
3 Yr 8.6% * -1.9% 14.3% 40.34% 2
5 Yr 8.2% * -2.5% 12.8% 27.92% 2
10 Yr 4.7% * -2.6% 7.6% 10.34% 1

* Annualized


Return Ranking - Calendar

Period PGRQX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -3.2% -51.8% 3.7% 30.51% 2
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

Total Return Ranking - Trailing

Period PGRQX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 7.5% -6.2% 15.4% 64.25% 4
1 Yr 9.3% -15.7% 19.2% 44.02% 3
3 Yr 8.6% * -3.7% 14.3% 32.95% 2
5 Yr 8.2% * -3.6% 12.8% 22.73% 2
10 Yr 4.7% * -3.1% 7.6% 10.34% 1

* Annualized


Total Return Ranking - Calendar

Period PGRQX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -3.2% -51.8% 3.7% 30.51% 2
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

NAV & Total Return History

PGRQX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

PGRQX Category Low Category High PGRQX % Rank Quintile
Net Assets 3.57 B 3 M 5.26 B 2.72% 1
Number of Holdings 127 20 661 6.52% 2
Net Assets in Top 10 839 M 1.4 M 3.91 B 3.80% 1
Weighting of Top 10 24.7% 17.3% 78.0% 26.09% 5

Top 10 Holdings

  1. Simon Property Group Inc 3.96%
  2. Mitsui Fudosan Co Ltd 2.48%
  3. Sun Hung Kai Properties Ltd 2.70%
  4. Welltower Inc 1.94%
  5. General Growth Properties Inc 2.07%
  6. Equity Residential 2.79%
  7. Federal Realty Investment Trust 2.26%
  8. Essex Property Trust Inc 2.25%
  9. Duke Realty Corp 2.32%
  10. National Retail Properties Inc 1.92%

Asset Allocation

Weighting Category Low Category High PGRQX % Rank Quintile
Stocks
96.96% 61.19% 99.91% 11.96% 3
Cash
1.68% -0.23% 19.04% 13.04% 3
Other
1.36% 0.00% 8.70% 14.67% 3
Convertible Bonds
0.00% 0.00% 0.64% 1.63% 2
Preferred Stocks
0.00% 0.00% 18.53% 1.63% 2
Bonds
0.00% 0.00% 16.62% 2.72% 2

Stock Sector Breakdown

Weighting Category Low Category High PGRQX % Rank Quintile
Real Estate
95.95% 59.49% 99.52% 11.96% 2
Consumer Cyclical
1.01% 0.00% 16.02% 12.50% 3
Financial Services
0.00% 0.00% 7.11% 13.04% 4
Industrials
0.00% 0.00% 5.65% 5.98% 3
Healthcare
0.00% 0.00% 2.81% 7.07% 3
Technology
0.00% 0.00% 1.85% 2.17% 2
Energy
0.00% 0.00% 0.01% 1.09% 2
Communication Services
0.00% 0.00% 4.11% 6.52% 3
Consumer Defense
0.00% 0.00% 0.01% 1.09% 2
Utilities
0.00% 0.00% 1.32% 1.63% 2
Basic Materials
0.00% 0.00% 1.58% 4.89% 2

Stock Geographic Breakdown

Weighting Category Low Category High PGRQX % Rank Quintile
US
54.87% 0.00% 96.95% 6.52% 2
Non US
42.09% 0.00% 99.45% 22.83% 4

PGRQX - Expenses

Operational Fees

PGRQX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.80% 0.16% 5.63% 59.24% 1
Management Fee 0.75% 0.12% 1.20% 8.70% 2
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.01% 0.26% N/A N/A

Sales Fees

PGRQX Fees (% of AUM) Category Low Category High PGRQX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

PGRQX Fees (% of AUM) Category Low Category High PGRQX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover 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 Low Category High PGRQX Rank Quintile
Turnover 48.00% 1.00% 289.00% 13.04% 2

PGRQX - Distributions

Dividend Yield Analysis

PGRQX Category Low Category High PGRQX % Rank Quintile
Dividend Yield 0.7% 0.01% 1.15% 7.65% 1

Dividend Distribution Analysis

PGRQX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PGRQX Category Low Category High PGRQX % Rank Quintile
Net Income Ratio 1.68% 0.14% 6.46% 34.24% 3

Capital Gain Distribution Analysis

PGRQX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

PGRQX - Managers

Rick J. Romano

Manager

Start Date

Jan 31, 2007

Tenure

9.5

Tenure Rank

4.6%

Romano is a a Managing Director and principal for Prudential Real Estate Investors(PREI). He is responsible for management of the groups public securities investments. Romano joined Prudential in 1998 from Rockefeller & Co., At Rockefeller & Co., he 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 . He is also a member of the CFA Institute (CFA), the New York Society of Security Analysts (NYSSA) and NAREIT. Mr. Romano received a B.A. 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

Manager

Start Date

Jun 10, 2013

Tenure

3.14

Tenure Rank

12.9%

Michael Gallagher is a Director for Prudential Real Estate Investors based in London. He is the Portfolio Manager for the European real estate securities. 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.


Marc Richard Halle

Lead Manager

Start Date

Jan 31, 2007

Tenure

9.5

Tenure Rank

4.6%

Marc R. Halle is a Managing Director for Prudential Real Estate Investors where he is the Senior Portfolio Manager and Chief Investment Officer for all global real estate securities funds and investments. Marc is also a member of the firm’s Global Investment Committee for all significant direct real estate investments. Marc joined Prudential from Alpine Management & Research, where he was the COO of the firm and Portfolio Manager for real estate securities funds. Prior to forming Alpine, Marc was with Evergreen Asset Management, where he was jointly responsible for research, investment analysis and portfolio recommendations for real estate securities. Previously, Marc was Senior Vice President and COO of W&M Properties (Empire State Realty Trust-NYSE: ESRT), a national real estate investment firm. Prior to W&M, Marc was a VP with Greenthal Realty, a New York based real estate firm that owned and operated multi-family properties throughout the NYC metropolitan area. Marc is a member of the Investor Advisory Council of the National Association of Real Estate Investment Trusts (NAREIT), and is affiliated with the International Council of Shopping Centers (ICSC). Marc has been widely quoted in the financial media including CNBC, Fox Business, the Wall Street Journal, Smart Money, Forbes and Barron’s. Marc holds an M.B.A. degree in Finance from New York University’s Executive M.B.A. Program and a B.S., magna cum laude, from Tufts University, College of Engineering.


Kwok Wing Cheong

Manager

Start Date

May 29, 2015

Tenure

1.18

Tenure Rank

16.2%

Kwok Wing Cheong, CFA, is a Portfolio Manager for PREI and is responsible for the management of the group's public securities investments in South Asia and Australasia. 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).


Tenure Analysis

Category Low

0.0

Category High

27.5

Category Average

6.78

Category Mode

1.6