NPORT-EX 2 PIPDBN0USRealEstateFund.htm FOR VALIDATION PURPOSES ONLY - [875832.TX]
PGIM US Real Estate Fund
Schedule of Investments as of December 31, 2019 (unaudited)
Description     Shares Value
Long-Term Investments 91.0%
Common Stocks 
Diversified REITs 5.5%
American Assets Trust, Inc.       20,984  $ 963,166
Essential Properties Realty Trust, Inc.       15,325 380,213
STORE Capital Corp.       19,655 731,952
          2,075,331
Health Care REITs 12.9%
Global Medical REIT, Inc.       66,272 876,778
Healthpeak Properties, Inc.       41,742 1,438,847
Medical Properties Trust, Inc.       68,787 1,452,094
Welltower, Inc.       13,327 1,089,882
          4,857,601
Hotel & Resort REITs 6.5%
Apple Hospitality REIT, Inc.       36,389 591,321
Host Hotels & Resorts, Inc.       24,958 462,971
MGM Growth Properties LLC (Class A Stock)       37,308 1,155,429
Park Hotels & Resorts, Inc.       8,222 212,703
          2,422,424
Industrial REITs 19.4%
Americold Realty Trust       46,694 1,637,092
Duke Realty Corp.       20,746 719,264
Prologis, Inc.       32,523 2,899,100
Rexford Industrial Realty, Inc.       20,672 944,090
STAG Industrial, Inc.       34,040 1,074,643
          7,274,189
IT Consulting & Other Services 1.8%
InterXion Holding NV (Netherlands)*       8,058 675,341
Office REITs 8.9%
Cousins Properties, Inc.       21,176 872,451
Hudson Pacific Properties, Inc.       30,948 1,165,192
JBG SMITH Properties       26,580 1,060,276
SL Green Realty Corp.       2,455 225,566
          3,323,485
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PGIM US Real Estate Fund
Schedule of Investments as of December 31, 2019 (unaudited) (continued)
Description     Shares Value
Common Stocks (Continued)
Residential REITs 21.7%
American Homes 4 Rent (Class A Stock)       18,696  $ 490,022
AvalonBay Communities, Inc.       8,656 1,815,163
Camden Property Trust       9,539 1,012,088
Equity LifeStyle Properties, Inc.       24,845 1,748,840
Equity Residential       6,090 492,803
Essex Property Trust, Inc.       1,075 323,424
Invitation Homes, Inc.       75,297 2,256,651
          8,138,991
Retail REITs 5.5%
Realty Income Corp.       8,594 632,776
Simon Property Group, Inc.       1,699 253,083
Spirit Realty Capital, Inc.       24,168 1,188,582
          2,074,441
Specialized REITs 8.8%
CyrusOne, Inc.       3,903 255,373
Equinix, Inc.       3,373 1,968,820
Extra Space Storage, Inc.       10,167 1,073,839
          3,298,032
     
 
 
Total Long-Term Investments
(cost $28,395,165) 		34,139,835
 
Short-Term Investment 0.3%
Affiliated Mutual Fund 
PGIM Core Ultra Short Bond Fund
(cost $107,617)(w) 		      107,617 107,617
 
TOTAL INVESTMENTS 91.3%
(cost $28,502,782) 		34,247,452
Other assets in excess of liabilities 8.7% 3,274,127
 
Net Assets 100.0% $ 37,521,579
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
    
  REITs—Real Estate Investment Trust
    
* Non-income producing security.
(w) PGIM Investments LLC, the manager of the Fund, also serves as manager of the PGIM Core Ultra Short Bond 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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