In This Article:
Baron Funds, an investment management company, released its “Baron Real Estate Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the first half of 2023, the fund rose 15.00% (Institutional Shares) compared to a 4.78% return for the MSCI US REIT Index (the “REIT Index”) and a 12.11% return for the MSCI USA IMI Extended Real Estate Index (the “MSCI Real Estate Index”). The fund rose 7.41%, modestly outperforming the indexes in the second quarter, which returned 2.34% and 7.04%, respectively, in the same period. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Real Estate Fund highlighted stocks like Digital Realty Trust, Inc. (NYSE:DLR) in the second quarter 2023 investor letter. Digital Realty Trust, Inc. (NYSE:DLR) is an enterprise and service provider that delivers the full spectrum of data center, colocation, and interconnection solutions. On July 25, 2023, Digital Realty Trust, Inc. (NYSE:DLR) stock closed at $120.62 per share. One-month return of Digital Realty Trust, Inc. (NYSE:DLR) was 10.64%, and its shares lost 5.40% of their value over the last 52 weeks. Digital Realty Trust, Inc. (NYSE:DLR) has a market capitalization of $35.142 billion.
Baron Real Estate Fund made the following comment about Digital Realty Trust, Inc. (NYSE:DLR) in its second quarter 2023 investor letter:
“We recently increased the Fund’s exposure to data center REITs by acquiring additional shares in Equinix, Inc. and re-initiating a position in Digital Realty Trust, Inc. (NYSE:DLR).