PGIM Select Real Estate Fund Q4 2025 Commentary

PGIM Investments46 FollowersFollow5ShareSavePlay(9min)CommentsSummaryThe U.S. REIT market closed out 2025 trading at an 8.9% discount to NAV, an attractive valuation relative to its long-term average of a 1-2% discount.We remain overweight in senior housing and data centers, expecting sustained growth from ongoing demographic shifts and the continued expansion of artificial intelligence and cloud computing.Despite the prevailing macro uncertainty, we see a positive outlook on balance for the listed real estate market in Europe.2025 turned out to be a bumper year for APAC real estate equities, as strong capital flows into Hong Kong and Singapore helped lower domestic interest rates.The Fund underperformed the benchmark, the FTSE EPRA/NAREIT Developed Real Estate Net Index, for the quarter. Torsten Asmus/iStock via Getty Images Market Review North America The U.S. real estate investment trusts (REIT) market closed out 2025 trading at an 8.9% discount to NAV, an attractive valuation relative to its long-term average of a 1-2% discount. Moreover, we continue to see increase capital flowingThis article was written byPGIM Investments46 FollowersFollowPGIM 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.