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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
+3.81%
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
$453M
AUM Growth
+$49.1M
(+12%)
Cap. Flow
+$34.8M
Cap. Flow
% of AUM
7.67%
Top 10 Holdings %
Top 10 Hldgs %
79.9%
Holding
20
New
4
Increased
7
Reduced
6
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Outfront Media
OUT
|
+$27.1M |
| 2 |
Caesars Entertainment
CZR
|
+$22.2M |
| 3 |
Equinix
EQIX
|
+$12M |
| 4 |
TCO
Taubman Centers Inc.
TCO
|
+$11M |
| 5 |
LPT
Liberty Property Trust
LPT
|
+$10.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Marriott International
MAR
|
+$18.4M |
| 2 |
MGP
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
|
+$17.3M |
| 3 |
Equity Residential
EQR
|
+$12.1M |
| 4 |
American Homes 4 Rent
AMH
|
+$11.3M |
| 5 |
Vail Resorts
MTN
|
+$9.77M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 50.58% |
| 2 | Consumer Discretionary | 16.95% |
| 3 | Healthcare | 11.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TCO
1
DELISTED
Taubman Centers Inc.
TCO
| $56.5M | 12.47% |
1,384,602
+269,655
| +24% | +$11M |
|
2
Brookdale Senior Living
BKD
$3.4B
| $52M | 11.48% |
6,864,437
+1,196,011
| +21% | +$9.46M |
|
3
MGM Resorts International
MGM
$11.2B
| $41.7M | 9.19% |
1,503,104
+181,079
| +14% | +$5.2M |
|
|
LPT
4
DELISTED
Liberty Property Trust
LPT
| $38.6M | 8.52% |
752,364
+209,571
| +39% | +$10.8M |
|
|
QTS
5
DELISTED
QTS REALTY TRUST, INC.
QTS
| $37.7M | 8.32% |
733,513
-84,434
| -10% | -$4.01M |
|
6
Gaming and Leisure Properties
GLPI
$12.8B
| $28.2M | 6.22% |
736,704
+176,204
| +31% | +$6.76M |
|
7
Cushman & Wakefield Ltd
CWK
$3.25B
| $28.1M | 6.2% |
1,516,808
+322,908
| +27% | +$5.85M |
|
|
8
Outfront Media
OUT
$5.5B
| $27.8M | 6.14% |
+1,018,151
| New | +$27.1M |
|
9
Invitation Homes
INVH
$18B
| $27.1M | 5.97% |
913,761
-21,239
| -2% | -$598K |
|
10
Healthpeak Properties
DOC
$14.8B
| $24.4M | 5.37% |
683,580
-287,020
| -30% | -$9.69M |
|
|
11
Caesars Entertainment
CZR
$6.14B
| $20.9M | 4.61% |
+523,940
| New | +$22.2M |
|
|
12
Vail Resorts
MTN
$5.3B
| $14.3M | 3.14% |
62,620
-41,380
| -40% | -$9.77M |
|
|
13
Equity Residential
EQR
$25.1B
| $13.6M | 3.01% |
157,920
-147,990
| -48% | -$12.1M |
|
|
14
Equinix
EQIX
$103B
| $12.8M | 2.83% |
+22,250
| New | +$12M |
|
15
SBA Communications
SBAC
$19.5B
| $12.3M | 2.71% |
50,952
+22,307
| +78% | +$5.52M |
|
|
VRE
16
DELISTED
Veris Residential
VRE
| $10.8M | 2.38% |
496,960
-181,259
| -27% | -$4.03M |
|
17
Americold
COLD
$4.27B
| $6.47M | 1.43% |
+174,450
| New | +$6.14M |
|
|
18
American Homes 4 Rent
AMH
$12.5B
| – | – |
-465,900
| Closed | -$11.3M |
|
|
19
Marriott International
MAR
$92.3B
| – | – |
-131,100
| Closed | -$18.4M |
|
|
MGP
20
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
| – | – |
-566,000
| Closed | -$17.3M |
|
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EGWAG
Land & Buildings Investment Management's Q3 2019 Portfolio in Review
As of Q3 2019, Land & Buildings Investment Management held 20 positions worth $453M, up 12% from $404M the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Land & Buildings Investment Management deployed $34.8M of net new capital in Q3 2019, opening 4 new positions and adding to 7 existing holdings. Its largest new stake was Outfront Media: 1,018,151 shares worth $27.8M.
By sector, the portfolio is most concentrated in Real Estate at 51% of assets, down from 52% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was Equity Residential, an estimated $12.1M trimmed.
- Land & Buildings Investment Management's largest Q3 2019 buy was Outfront Media: 1,018,151 shares worth $27.8M.
- Land & Buildings Investment Management added most to Taubman Centers Inc. in Q3 2019, an estimated $11M increase.
- Land & Buildings Investment Management's biggest Q3 2019 reduction was Equity Residential, cutting an estimated $12.1M.
- Land & Buildings Investment Management fully exited Marriott International in Q3 2019, selling an estimated $18.4M.
- Land & Buildings Investment Management's ten largest holdings make up 80% of its $453M portfolio in Q3 2019.
- Land & Buildings Investment Management opened 4 new positions and closed 3 in Q3 2019.
- Land & Buildings Investment Management's portfolio value rose 12% quarter-over-quarter to $453M.
Based on Land & Buildings Investment Management's 13F filing for Q3 2019, filed 14 Nov 2019.