Baron Funds, an investment management company, released its “Baron Real Estate Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund had a strong performance in 2023 and generated a gain of 25.04% (Institutional Shares). This is more than double the MSCI US REIT Index (the REIT Index), which rose 12.27% and also outperformed the MSCI USA IMI Extended Real Estate Index’s 23.09% return. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Real Estate Fund featured stocks such as Equity Residential (NYSE:EQR) in the Q4 2023 investor letter. Equity Residential (NYSE:EQR) is a real estate investment trust focused on the acquisition, development, and management of apartments. On January 22, 2024, Equity Residential (NYSE:EQR) stock closed at $60.30 per share. One-month return of Equity Residential (NYSE:EQR) was -1.37%, and its shares lost 2.11% of their value over the last 52 weeks. Equity Residential (NYSE:EQR) has a market capitalization of $22.897 billion.
Baron Real Estate Fund stated the following regarding Equity Residential (NYSE:EQR) in its fourth quarter 2023 investor letter:
“In the most recent quarter, we re-acquired shares in Equity Residential (NYSE:EQR), the largest U.S. multi-family REIT. The company has assembled an excellent portfolio of Class A apartment buildings located in high barrier-to-entry coastal markets with favorable long-term demographic trends and muted overall…
