Baron Funds, an asset management company, released its “Baron Real Estate Income Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. Baron Real Estate Income Fund (the “Fund”) declined 18.43% (Institutional Shares) in the second quarter of 2022, modestly underperforming its primary benchmark, the MSCI US REIT Index (the “REIT Index”), which declined 17.16%. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Baron Real Estate Income Fund mentioned Welltower Inc. (NYSE:WELL) and explained its insights for the company. Founded in 1970, Welltower Inc. (NYSE:WELL) is a Toledo, Ohio-based real estate investment trust company with a $33.7 billion market capitalization. Welltower Inc. (NYSE:WELL) delivered a -15.10% return since the beginning of the year, while its 12-month returns are down by -15.16%. The stock closed at $72.82 per share on September 16, 2022.
Here is what Baron Real Estate Income Fund has to say about Welltower Inc. (NYSE:WELL) in its Q2 2022 investor letter:
“Health Care REITs (6.4%): Following COVID-19-related operational challenges in 2020 and 2021, health care real estate fundamentals are now improving. Rent increases and occupancy gains are heading in the right direction for the Fund’s investments in senior housing REIT Welltower Inc. (NYSE:WELL).
Muted supply growth in the next two to three years, due to increasing financing and construction costs and supply-chain challenges, should amplify the recovery in fundamentals. The long-term demand outlook is favorable, driven in part by our aging population, which is expected to accelerate in the years ahead.”
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Our calculations show that Welltower Inc. (NYSE:WELL) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Welltower Inc. (NYSE:WELL) was in 26 hedge fund portfolios at the end of the second quarter of 2022, compared to 25 funds in the previous quarter. Welltower Inc. (NYSE:WELL) delivered a -6.22% return in the past 3 months.
In July 2022, we published an article that includes Welltower Inc. (NYSE:WELL) in 10 Dividend Paying REIT Stocks To Buy Now. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.
Disclosure: None. This article is originally published at Insider Monkey.