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LBIM

Land & Buildings Investment Management Portfolio holdings

AUM $591M
1-Year Est. Return 10.19%
This Fund
S&P 500
This Quarter Est. Return
+1.55%
1 Year Est. Return
+10.19%
3 Year Est. Return
+42.74%
5 Year Est. Return
+59.01%
10 Year Est. Return
+203.53%
AUM
$464M
AUM Growth
-$36.2M
Cap. Flow
-$42M
Cap. Flow %
-9.05%
Top 10 Hldgs %
89.97%
Holding
18
New
4
Increased
2
Reduced
7
Closed
4

Top Buys

Rank Stock Value
1
LPT
Liberty Property Trust
LPT
+$37.7M
2
MGM icon
MGM Resorts International
MGM
+$29.8M
3
MAR icon
Marriott International
MAR
+$23.5M
4
RVI
Retail Value Inc. Common Shares
RVI
+$14.5M
5
TIER
TIER REIT, Inc.
TIER
+$11.6M

Top Sells

Rank Stock Value
1
LSI
Life Storage, Inc.
LSI
+$37.8M
2
MAC icon
Macerich
MAC
+$24.2M
3
HLT icon
Hilton Worldwide
HLT
+$20.1M
4
INVH icon
Invitation Homes
INVH
+$19.3M
5
WYNN icon
Wynn Resorts
WYNN
+$18.9M

Sector Composition

Rank Sector Weight
1 Real Estate 35.95%
2 Consumer Discretionary 28.68%
3 Healthcare 13.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TCO
1
DELISTED
Taubman Centers Inc.
TCO
$66.7M 14.39%
1,114,947
– –
MGM icon
2
MGM Resorts International
MGM
$11.2B
$63.9M 13.78%
2,288,682
+1,029,066
+82% +$29.8M
BKD icon
3
Brookdale Senior Living
BKD
$3.4B
$60.6M 13.08%
6,168,921
-1,002,750
-14% -$9.23M
QTS
4
DELISTED
QTS REALTY TRUST, INC.
QTS
$58.4M 12.59%
1,368,087
-56,843
-4% -$2.48M
VRE
5
DELISTED
Veris Residential
VRE
$42.6M 9.19%
2,003,780
+331,263
+20% +$6.75M
LPT
6
DELISTED
Liberty Property Trust
LPT
$36.6M 7.9%
+867,330
New +$37.7M
LEN icon
7
Lennar Class A
LEN
$21.2B
$28.5M 6.15%
630,956
-119,622
-16% -$6.03M
MAR icon
8
Marriott International
MAR
$92.3B
$24.3M 5.24%
+183,900
New +$23.5M
SBAC icon
9
SBA Communications
SBAC
$19.5B
$19.2M 4.14%
119,585
-79,250
-40% -$12.6M
DHI icon
10
D.R. Horton
DHI
$42.3B
$16.3M 3.52%
386,800
-32,900
-8% -$1.42M
RVI
11
DELISTED
Retail Value Inc. Common Shares
RVI
$14M 3.02%
+4,667,331
New +$14.5M
PLD icon
12
Prologis
PLD
$133B
$12.5M 2.69%
183,987
-211,050
-53% -$13.9M
TIER
13
DELISTED
TIER REIT, Inc.
TIER
$11.8M 2.55%
+491,300
New +$11.6M
INVH icon
14
Invitation Homes
INVH
$18B
$8.2M 1.77%
359,832
-827,300
-70% -$19.3M
HLT icon
15
Hilton Worldwide
HLT
$71.5B
– –
-253,493
Closed -$20.1M
MAC icon
16
Macerich
MAC
$6.92B
– –
-425,000
Closed -$24.2M
WYNN icon
17
Wynn Resorts
WYNN
$10.6B
– –
-113,076
Closed -$18.9M
LSI
18
DELISTED
Life Storage, Inc.
LSI
– –
-582,767
Closed -$37.8M

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Land & Buildings Investment Management's Q3 2018 Portfolio in Review

As of Q3 2018, Land & Buildings Investment Management held 18 positions worth $464M, down 7.3% from $500M the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Land & Buildings Investment Management withdrew a net $42M in Q3 2018, closing 4 positions and reducing 7 holdings. Its most notable exit was Life Storage, Inc., an estimated $37.8M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 36% of assets, down from 48% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Land & Buildings Investment Management opened a new position in Liberty Property Trust worth $36.6M.

  • Land & Buildings Investment Management's largest Q3 2018 buy was Liberty Property Trust: 867,330 shares worth $36.6M.
  • Land & Buildings Investment Management added most to MGM Resorts International in Q3 2018, an estimated $29.8M increase.
  • Land & Buildings Investment Management's biggest Q3 2018 reduction was Invitation Homes, cutting an estimated $19.3M.
  • Land & Buildings Investment Management fully exited Life Storage, Inc. in Q3 2018, selling an estimated $37.8M.
  • Land & Buildings Investment Management's ten largest holdings make up 90% of its $464M portfolio in Q3 2018.
  • Land & Buildings Investment Management opened 4 new positions and closed 4 in Q3 2018.
  • Land & Buildings Investment Management's portfolio value fell 7.3% quarter-over-quarter to $464M.

Based on Land & Buildings Investment Management's 13F filing for Q3 2018, filed 14 Nov 2018.