Fund Evaluator:
PGIM Real Estate Income A (PRKAX)
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Best Performing in Real Estate Over the Last Year
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| 15.0% | Nuveen Real Estate Sec Sel I (TIRHX) |
| 14.3% | PGIM Real Estate Income Z (PRKZX) |
| 14.1% | American Century Real Estate Y (ARYEX) |
Fund Details
PGIM Real Estate Income A Overview
PGIM Real Estate Income A (PRKAX) is an actively managed Sector Equity Real Estate fund. PGIM launched the fund in 2015.
The investment seeks income and capital appreciation. 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.
About PGIM Real Estate Income A (PRKAX)
There are 5 members of the management team with an average tenure of 7.27 years: Rick Romano (2015), Michael Gallagher (2015), Alvin Chan (2020), Enoch Chan (2026), Daniel Cooney (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 3 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100%, FTSE EPRA Nareit Developed TR USD index with a weighting of 20% and ICE BofA FxRt 7% Cstd REIT Pref TR USD index with a weighting of 80%. PGIM Real Estate Income A has 45 securities in its portfolio. The top 10 holdings constitute 45.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
PGIM Real Estate Income A is part of the Equity global asset class and is within the Sector Equity fund group. PGIM Real Estate Income A has 18.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 58.2%. There is 18.8% allocated to foreign stock, and 20.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). PGIM Real Estate Income A has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $1 million in total assets, which is below the $657 million average for the Real Estate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PRKAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The PGIM Real Estate Income A expense ratio is high compared to funds in the Real Estate category. PGIM Real Estate Income A has an expense ratio of 1.35%, which is 10% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. PGIM Real Estate Income A has a portfolio turnover rate of 115%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 80% for the Real Estate category.
Recently, in the month of June 2026, PGIM Real Estate Income A returned 2.0%, which earned it a grade of B, as the Real Estate category had an average return of 2.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
PGIM Real Estate Income A has a trailing yield of 3.25%, which is above the 2.17% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
PGIM Real Estate Income A Grades
Year to date, the fund has returned 12.8%, 1.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 14.0% over the past year (grade of C), 13.3% over the past three years (grade of A) and 5.0% per year over the past five years (grade of A) and 5.8% per year over the past 10 years (grade of B).
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PRKAX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PRKAX Return (NAV) | 2.0% | 10.7% | 14.0% | 13.3% | 5.0% | 5.8% |
| PRKAX Grade | B | C | C | A | A | B |
| +/- Category | 0.0% | -0.0% | -0.8% | 3.5% | 1.4% | 0.3% |
| Real Estate Avg | 2.0% | 10.7% | 14.9% | 9.8% | 3.6% | 5.5% |
| PRKAX Tax Cost Ratio | na | na | 2.2% | 2.0% | 3.5% | 2.9% |
PRKAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PRKAX Return (NAV) | 12.8% | 3.5% | 14.3% | 10.5% | -16.4% | 20.8% | -9.0% | 34.7% | -10.5% | 7.6% | 9.8% |
| PRKAX Grade | F | A | A | D | A | F | F | A | F | B | A |
| +/- Category | -1.4% | 2.1% | 7.8% | -1.8% | 9.7% | -21.0% | -5.2% | 6.1% | -4.5% | 1.0% | 3.7% |
| Real Estate Avg | 14.2% | 1.4% | 6.5% | 12.3% | -26.1% | 41.8% | -3.8% | 28.6% | -6.0% | 6.6% | 6.1% |
| Risk Measures | |
| Standard Deviation: | 15.2% |
| Total Risk Index: | 1.25 - Above Average |
| Category Risk Index: | 0.93 - Low |
| Category Risk Grade: | A (5% Rank) |
| Beta: | 0.88 |
| R-Squared: | 54% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 3.3% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $60 Mil |
| Fund Total Assets: | $ 1 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 115% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 11.1 years | |||
| Average Tenure: 7.3 years | |||
| Managers (Year): Romano Rick (2015), Gallagher Michael (2015), Cooney Daniel (2018), Chan Alvin (2020), Chan Enoch (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 45 |
| % in Top 10 Holdings: | 45.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 18.8% |
Portfolio Allocation |
|
| Domestic Stock: | 58.2% |
| Foreign Stock: | 18.8% |
| Preferred Stock: | 20.1% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 1.5% |
| Cash: | 1.5% |
Purchase Information
| Fund Family: | PGIM |
| Phone Number: | 800-225-1852 |
| Website: | www.prudentialfunds.com |
| Status: | Open |
| Inception Date: | June 3, 2015 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 5.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.30% |
Expenses and Fees | |
| Expense Ratio (%): | 1.35% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.23% |
| Share Class: | PGIM Real Estate Income Z |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
