Baron Funds, an investment management company, released its “Baron Real Estate Fund” second quarter 2024 investor letter. A copy of the letter can be . The fund declined 9.
20% (Institutional Shares) in the second quarter compared to a 0.22% decline for the MSCI US REIT Index (the REIT Index) and a 4.03% decline for the MSCI USA IMI Extended Real Estate Index (the MSCI Real Estate Index).
Some of the Fund's top performers from 2023 and the first quarter of 2024 experienced declines, partly due to concerns about slowing growth. This includes the shares of homebuilders, residential building product and services companies, casino and gaming operators, certain REITs, and other real estate-related companies. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Baron Real Estate Fund highlighted stocks like Caesars Entertainment, Inc. (NASDAQ: ), in the second quarter 2024 investor letter. Caesars Entertainment, Inc.
(NASDAQ:CZR) is a gaming and hospitality company. The one-month return of Caesars Entertainment, Inc. (NASDAQ:CZR) was -0.
54%, and its shares lost 32.75% of their value over the last 52 weeks. On August 29, 2024, Caesars Entertainment, Inc.
(NASDAQ:CZR) stock closed at $37.16 per share with a market capitalization of $8.039 billion.
Baron Real Estate Fund stated the following regarding Caesars Entertainment, Inc. (NASDAQ:CZR) in its Q2 2024 investor letter: "In the most recent quarter, we chose to lower the Fund’s large exposure.