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Should You Exit Your Position in Equity Residential (EQR)?

Soumya Eswaran
·2 分鐘文章

Baron Funds, an investment management company, released its “Baron Real Estate Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund rose 6.17% (Institutional Shares) compared to a 4.90% return for the MSCI US REIT Index (the “REIT Index”) and an 8.71% return for the MSCI USA IMI Extended Real Estate Index (the “MSCI Real Estate Index”). For 2022, the fund declined 28.44% compared to a 23.84% decline for the MSCI Real Estate Index and a 25.37% decline for the REIT Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds highlighted stocks like Equity Residential (NYSE:EQR) in the Q4 2022 investor letter. Equity Residential (NYSE:EQR) is a real estate investment trust focused on acquisition, development, and management of apartments. On January 30, 2023, Equity Residential (NYSE:EQR) stock closed at $62.06 per share. One-month return of Equity Residential (NYSE:EQR) was 5.47%, and its shares lost 29.56% of their value over the last 52 weeks. Equity Residential (NYSE:EQR) has a market capitalization of $24.325 billion.

Baron Funds made the following comment about Equity Residential (NYSE:EQR) in its Q4 2022 investor letter:

"In the most recent quarter, we exited the Fund’s position in Equity Residential (NYSE:EQR), the largest U.S. apartment REIT with 80,000 high-quality apartment units. We anticipate that business prospects will be pressured in the year ahead due to softening demand and elevated new supply in some of the company’s key geographic markets."

Copyright: zhukovsky / 123RF Stock Photo

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Equity Residential (NYSE:EQR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Equity Residential (NYSE:EQR) at the end of the third quarter, which was 34 in the previous quarter.

We discussed Equity Residential (NYSE:EQR) in another article and shared Baron Funds' views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.