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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
-11.27%
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
$455M
AUM Growth
-$19.7M
Cap. Flow
+$35.2M
Cap. Flow %
7.73%
Top 10 Hldgs %
76.51%
Holding
22
New
4
Increased
7
Reduced
7
Closed
4

Top Buys

Rank Stock Value
1
TCN
Tricon Residential Inc.
TCN
+$53.4M
2
EQIX icon
Equinix
EQIX
+$37.3M
3
SBAC icon
SBA Communications
SBAC
+$25.2M
4
RHP icon
Ryman Hospitality Properties
RHP
+$15.9M
5
PLD icon
Prologis
PLD
+$13.6M

Top Sells

Rank Stock Value
1
LAMR icon
Lamar Advertising Co
LAMR
+$31.5M
2
PSA icon
Public Storage
PSA
+$26.9M
3
AMH icon
American Homes 4 Rent
AMH
+$16.9M
4
CBRE icon
CBRE Group
CBRE
+$15M
5
REXR icon
Rexford Industrial Realty
REXR
+$11.9M

Sector Composition

Rank Sector Weight
1 Real Estate 87.04%
2 Communication Services 7.15%
3 Consumer Discretionary 3.81%
4 Technology 2.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AIV
1
Aimco
AIV
$382M
$49.3M 10.83%
7,247,927
-612,491
-8% -$4.87M
TCN
2
DELISTED
Tricon Residential Inc.
TCN
$45.9M 10.08%
+6,199,180
New +$53.4M
AIRC
3
DELISTED
Apartment Income REIT Corp.
AIRC
$40.8M 8.97%
1,330,278
+20,441
+2% +$694K
VTR icon
4
Ventas
VTR
$45.3B
$38.6M 8.48%
916,557
+33,810
+4% +$1.52M
EQIX icon
5
Equinix
EQIX
$103B
$35M 7.69%
+48,225
New +$37.3M
SIX
6
DELISTED
Six Flags Entertainment Corp.
SIX
$32.5M 7.15%
1,383,986
+524,070
+61% +$12.4M
PLD icon
7
Prologis
PLD
$133B
$29.1M 6.39%
259,193
+110,837
+75% +$13.6M
SBAC icon
8
SBA Communications
SBAC
$19.4B
$28.7M 6.3%
143,377
+113,130
+374% +$25.2M
SUI icon
9
Sun Communities
SUI
$14.6B
$26.7M 5.87%
225,842
-22,120
-9% -$2.81M
SKT icon
10
Tanger
SKT
$4.47B
$21.6M 4.75%
956,107
-204,748
-18% -$4.77M
REXR icon
11
Rexford Industrial Realty
REXR
$8.12B
$17.5M 3.85%
355,117
-224,520
-39% -$11.9M
CZR icon
12
Caesars Entertainment
CZR
$6.09B
$17.3M 3.81%
373,866
+36,886
+11% +$1.96M
VICI icon
13
VICI Properties
VICI
$28.7B
$16.7M 3.66%
572,950
-213,280
-27% -$6.62M
RHP icon
14
Ryman Hospitality Properties
RHP
$7.67B
$15M 3.3%
+180,330
New +$15.9M
AMH icon
15
American Homes 4 Rent
AMH
$12.3B
$13.1M 2.87%
388,401
-469,659
-55% -$16.9M
NHI icon
16
National Health Investors
NHI
$3.4B
$11.6M 2.56%
+226,675
New +$11.9M
SMRT icon
17
SmartRent
SMRT
$276M
$9.14M 2.01%
3,500,719
+305,510
+10% +$1.04M
CBRE icon
18
CBRE Group
CBRE
$42.8B
$6.52M 1.43%
88,235
-180,935
-67% -$15M
HST icon
19
Host Hotels & Resorts
HST
$15.4B
– –
-540,976
Closed -$9.1M
IRT icon
20
Independence Realty Trust
IRT
$3.94B
– –
-516,900
Closed -$9.42M
LAMR icon
21
Lamar Advertising Co
LAMR
$15.7B
– –
-317,770
Closed -$31.5M
PSA icon
22
Public Storage
PSA
$60.7B
– –
-92,092
Closed -$26.9M

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Land & Buildings Investment Management's Q3 2023 Portfolio in Review

As of Q3 2023, Land & Buildings Investment Management held 22 positions worth $455M, down 4.2% from $475M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Land & Buildings Investment Management deployed $35.2M of net new capital in Q3 2023, opening 4 new positions and adding to 7 existing holdings. Its largest new stake was Tricon Residential Inc.: 6,199,180 shares worth $45.9M.

By sector, the portfolio is most concentrated in Real Estate at 87% of assets, down from 89% a quarter earlier, followed by Communication Services and Consumer Discretionary.

On the sell side, the largest reduction was American Homes 4 Rent, an estimated $16.9M trimmed.

  • Land & Buildings Investment Management's largest Q3 2023 buy was Tricon Residential Inc.: 6,199,180 shares worth $45.9M.
  • Land & Buildings Investment Management added most to SBA Communications in Q3 2023, an estimated $25.2M increase.
  • Land & Buildings Investment Management's biggest Q3 2023 reduction was American Homes 4 Rent, cutting an estimated $16.9M.
  • Land & Buildings Investment Management fully exited Lamar Advertising Co in Q3 2023, selling an estimated $31.5M.
  • Land & Buildings Investment Management's ten largest holdings make up 77% of its $455M portfolio in Q3 2023.
  • Land & Buildings Investment Management opened 4 new positions and closed 4 in Q3 2023.
  • Land & Buildings Investment Management's portfolio value fell 4.2% quarter-over-quarter to $455M.

Based on Land & Buildings Investment Management's 13F filing for Q3 2023, filed 14 Nov 2023.