Baron Real Estate Fund Q1 2024 Investor Letter Highlights and Top Holdings
Baron Funds, an investment management company, recently released its first quarter 2024 investor letter for the Baron Real Estate Fund, showcasing a strong performance with a gain of 8.28% for Institutional Shares. This performance outperformed both the MSCI US REIT Index and the MSCI USA IMI Extended Real Estate Index. The fund’s top five holdings were also highlighted in the letter, with stocks like Rexford Industrial Realty, Inc. (NYSE:REXR) making an appearance.
Rexford Industrial Realty, Inc. is a real estate investment trust focusing on industrial properties, with its stock closing at $42.54 per share on April 24, 2024. Despite a one-month return of -14.61% and a 21.58% loss in value over the last 52 weeks, the company has a market capitalization of $9.591 billion.
In the investor letter, Baron Real Estate Fund expressed optimism about Rexford Industrial Realty, Inc.’s long-term growth prospects, citing the company’s portfolio of industrial real estate properties in Southern California. The management team is expected to adjust rents to market levels over the next few years, potentially leading to significant growth. Additionally, the company is actively pursuing acquisitions to expand its portfolio further.
Although Rexford Industrial Realty, Inc. is not among the 30 Most Popular Stocks Among Hedge Funds, it was held by 29 hedge fund portfolios at the end of the fourth quarter. Investors interested in low-risk, high-reward stocks may find Rexford Industrial Realty, Inc. worth considering for potential growth opportunities.
For more insights on hedge fund investor letters and other leading investors, readers can visit Insider Monkey’s website. The full investor letter for the Baron Real Estate Fund can be downloaded for further details on the fund’s performance and top holdings.