PGIM Global Real Estate Fund Q3 2025 Commentary

PGIM Investments 38 Follower s Follow 5 Share Save Play ( 8min ) Comments Summary The PGIM Global Real Estate Fund Class Z outperformed the benchmark, the FTSE EPRA/NAREI Developed Real Estate Net Index, for the month of October, driven by strong stock selection while asset allocation remained neutral. Europe weighed negatively on results, with underperformance largely attributable to poor stock selection in the U.K. We are overweight the Japanese developers given positive fundamentals and improvements in shareholder returns. Richard Drury/DigitalVision via Getty Images Market Review North America U.S. Real Estate Investment Trusts (REITs) remain attractively priced, trading at about a 6% discount to net asset value (NAV), whereas the long-term average is closer to flat. We anticipate earnings growth of roughly 6.5% in 2025, improving to 7% in This article was written by PGIM Investments 38 Follower s Follow PGIM Investments, a subsidiary of PFI, is an investment adviser and the investment manager to all PGIM US open-end investment companies and manager or administrator to closed-end investment companies. Note: This account is not managed or monitored by PGIM Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use PGIM Investments' official channels.

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