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LCM
LDR Capital Management Portfolio holdings
AUM
$74.4M
1-Year Est. Return
7.16%
This Fund
S&P 500
This Quarter
Est. Return
-1.82%
1 Year Est. Return
+7.16%
3 Year Est. Return
+37.07%
5 Year Est. Return
-1.75%
10 Year Est. Return
–
AUM
$149M
AUM Growth
-$30.3M
(-17%)
Cap. Flow
-$26.8M
Cap. Flow
% of AUM
-18.02%
Top 10 Holdings %
Top 10 Hldgs %
61.59%
Holding
43
New
1
Increased
11
Reduced
23
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Kimco Realty Corp 7.25% Class N Preferred Stock
KIM.PRN
|
+$3.34M |
| 2 |
Kite Realty
KRG
|
+$1.16M |
| 3 |
BDN
Brandywine Realty Trust
BDN
|
+$1.16M |
| 4 |
Brookfield Infrastructure
BIPC
|
+$993K |
| 5 |
Starwood Property Trust
STWD
|
+$705K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SL Green Realty
SLG
|
+$19M |
| 2 |
Blackstone Mortgage Trust
BXMT
|
+$3.99M |
| 3 |
RPT.PRD
RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest
RPT.PRD
|
+$2.98M |
| 4 |
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
|
+$2.2M |
| 5 |
State Street Real Estate Select Sector SPDR ETF
XLRE
|
+$1.92M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 77.69% |
| 2 | Utilities | 1.62% |
| 3 | Consumer Staples | 0.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Blackstone Mortgage Trust
BXMT
$2.53B
| $31.8M | 21.41% |
1,598,140
-198,106
| -11% | -$3.99M |
|
|
2
SL Green Realty
SLG
$3.81B
| $16.5M | 11.13% |
300,000
-402,107
| -57% | -$19M |
|
|
3
EPR Properties 9.00% Series E Preferred Shares
EPR.PRE
$115M
| $8.33M | 5.6% |
307,706
-439
| -0.1% | -$12.3K |
|
4
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$324M
| $7.16M | 4.82% |
292,210
+451
| +0.2% | +$11.2K |
|
5
Sabra Healthcare REIT
SBRA
$5.38B
| $6.41M | 4.31% |
433,665
-1,016
| -0.2% | -$14.1K |
|
6
Healthpeak Properties
DOC
$15.2B
| $4.95M | 3.33% |
263,981
+33,547
| +15% | +$610K |
|
7
Healthcare Realty
HR
$7.46B
| $4.39M | 2.96% |
310,586
+14,061
| +5% | +$212K |
|
|
8
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$152M
| $4.14M | 2.79% |
218,498
-111,343
| -34% | -$2.2M |
|
9
Urban Edge Properties
UE
$2.87B
| $3.91M | 2.63% |
226,523
-7,319
| -3% | -$127K |
|
|
AIRC
10
DELISTED
Apartment Income REIT Corp.
AIRC
| $3.89M | 2.62% |
119,832
| – | – |
|
|
UMH
11
UMH Properties
UMH
$1.3B
| $3.84M | 2.58% |
236,461
-14,578
| -6% | -$223K |
|
|
12
State Street Real Estate Select Sector SPDR ETF
XLRE
$8.6B
| $3.34M | 2.24% |
84,403
-49,267
| -37% | -$1.92M |
|
|
13
Kimco Realty Corp 7.25% Class N Preferred Stock
KIM.PRN
$86.7M
| $3.31M | 2.22% |
+58,671
| New | +$3.34M |
|
14
Brixmor Property Group
BRX
$9.67B
| $3.15M | 2.12% |
134,372
-10,093
| -7% | -$229K |
|
|
15
Kite Realty
KRG
$5.88B
| $2.97M | 2% |
137,105
+54,035
| +65% | +$1.16M |
|
|
16
Starwood Property Trust
STWD
$6.02B
| $2.94M | 1.98% |
144,679
+34,815
| +32% | +$705K |
|
|
BDN
17
Brandywine Realty Trust
BDN
$525M
| $2.59M | 1.74% |
540,027
+249,862
| +86% | +$1.16M |
|
18
STAG Industrial
STAG
$7.43B
| $2.58M | 1.74% |
67,218
-10,617
| -14% | -$402K |
|
|
KW
19
DELISTED
Kennedy-Wilson Holdings
KW
| $2.53M | 1.7% |
295,194
-6,065
| -2% | -$59.7K |
|
|
20
Brookfield Infrastructure
BIPC
$5.24B
| $2.41M | 1.62% |
67,004
+28,364
| +73% | +$993K |
|
|
VRE
21
DELISTED
Veris Residential
VRE
| $2.27M | 1.53% |
149,522
-2,581
| -2% | -$39.1K |
|
|
BHR.PRB
22
Braemar Hotels & Resorts 5.50% Series B Preferred Stock
BHR.PRB
$52.5M
| $1.96M | 1.32% |
142,671
-137
| -0.1% | -$1.85K |
|
23
Public Storage
PSA
$59.3B
| $1.94M | 1.3% |
6,682
-19
| -0.3% | -$5.45K |
|
24
LXP Industrial Trust 6.5% Series C Preferred Stock
LXP.PRC
$95.4M
| $1.91M | 1.29% |
41,224
+1,131
| +3% | +$52.3K |
|
25
Crown Castle
CCI
$33.4B
| $1.91M | 1.29% |
18,062
-40
| -0.2% | -$4.35K |
|
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LC
LDR Capital Management's Q1 2024 Portfolio in Review
As of Q1 2024, LDR Capital Management held 43 positions worth $149M, down 17% from $179M the previous quarter. Its ten largest holdings account for 62% of the portfolio.
LDR Capital Management withdrew a net $26.8M in Q1 2024, closing 4 positions and reducing 23 holdings. Its most notable exit was RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest, an estimated $2.98M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 78% of assets, down from 79% a quarter earlier, followed by Utilities and Consumer Staples.
Against the trend, LDR Capital Management opened a new position in Kimco Realty Corp 7.25% Class N Preferred Stock worth $3.31M.
- LDR Capital Management's largest Q1 2024 buy was Kimco Realty Corp 7.25% Class N Preferred Stock: 58,671 shares worth $3.31M.
- LDR Capital Management added most to Kite Realty in Q1 2024, an estimated $1.16M increase.
- LDR Capital Management's biggest Q1 2024 reduction was SL Green Realty, cutting an estimated $19M.
- LDR Capital Management fully exited RPT Realty 7.25% Series D Cumulative Convertible Perpetual Preferred Shares of Beneficial Interest in Q1 2024, selling an estimated $2.98M.
- LDR Capital Management's ten largest holdings make up 62% of its $149M portfolio in Q1 2024.
- LDR Capital Management opened 1 new position and closed 4 in Q1 2024.
- LDR Capital Management's portfolio value fell 17% quarter-over-quarter to $149M.
Based on LDR Capital Management's 13F filing for Q1 2024, filed 1 May 2024.