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PAREX T. Rowe Price Real Estate Advisor

  • Fund
  • PAREX
  • Price as of: Aug 08, 2016
  • $30.94
  • + $0.07
  • + 0.23%
  • Category
  • Real Estate

PAREX - Profile

Vitals

  • YTD Return 11.3%
  • 3 Yr Annualized Return 14.1%
  • 5 Yr Annualized Return 12.2%
  • Net Assets $6.52 B
  • Holdings in Top 10 46.3%

52 WEEK LOW AND HIGH

$30.94
$25.03
$31.49

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.01%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 6.60%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

Real Estate
  • Fund Type Open End Mutual Fund
  • Investment Style Real Estate

Distributions

  • YTD Total Return 11.3%
  • 3 Yr Annualized Total Return 14.1%
  • 5 Yr Annualized Total Return 12.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.22%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name T. Rowe Price Real Estate Fund
  • Fund Family Name T. Rowe Price
  • Inception Date Dec 31, 2004
  • Shares Outstanding N/A
  • Share Class Adv
  • Currency USD
  • Domiciled Country United States
  • Manager David M. Lee

Fund Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in the equity securities of real estate companies. It is likely to maintain a significant portion of assets in real estate investment trusts (REITs). REITs pool money to invest in properties (equity REITs) or mortgages (mortgage REITs). The fund generally invests in equity REITs.

PAREX - Performance

Return Ranking - Trailing

Period PAREX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 11.3% -8.5% 15.8% 51.22% 3
1 Yr 18.6% -14.6% 34.3% 54.15% 3
3 Yr 14.1% * 5.6% 17.0% 43.26% 3
5 Yr 12.2% * 6.1% 14.1% 40.31% 3
10 Yr 6.7% * 2.7% 10.5% 50.83% 3

* Annualized


Return Ranking - Calendar

Period PAREX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 2.4% -23.9% 92.3% 2.63% 1
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

Total Return Ranking - Trailing

Period PAREX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 11.3% -8.5% 15.8% 53.39% 3
1 Yr 18.6% -19.4% 29.3% 40.32% 2
3 Yr 14.1% * 5.6% 17.0% 35.81% 2
5 Yr 12.2% * 6.1% 14.1% 35.71% 2
10 Yr 6.7% * 2.7% 10.5% 44.20% 3

* Annualized


Total Return Ranking - Calendar

Period PAREX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 2.4% -23.9% 92.3% 2.63% 1
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

NAV & Total Return History

PAREX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

PAREX Category Low Category High PAREX % Rank Quintile
Net Assets 6.52 B 3.39 M 67.3 B 1.58% 1
Number of Holdings 39 5 530 17.79% 5
Net Assets in Top 10 3.02 B 711 K 22.5 B 1.19% 1
Weighting of Top 10 46.3% 3.7% 179.8% 17.39% 3

Top 10 Holdings

  1. Simon Property Group Inc 9.16%
  2. AvalonBay Communities Inc 4.70%
  3. Essex Property Trust Inc 3.64%
  4. Public Storage 4.06%
  5. Prologis Inc 4.69%
  6. Equity Residential 4.21%
  7. General Growth Properties Inc 4.78%
  8. Federal Realty Investment Trust 3.63%
  9. Macerich Co 3.57%
  10. Regency Centers Corp 3.89%

Asset Allocation

Weighting Category Low Category High PAREX % Rank Quintile
Stocks
94.26% 1.09% 108.08% 24.51% 4
Cash
5.02% -121.66% 74.22% 4.35% 1
Convertible Bonds
0.72% 0.00% 4.96% 1.58% 1
Other
0.00% -8.28% 108.20% 13.44% 3
Preferred Stocks
0.00% 0.00% 41.93% 5.93% 3
Bonds
0.00% 0.00% 118.13% 4.35% 3

Stock Sector Breakdown

Weighting Category Low Category High PAREX % Rank Quintile
Real Estate
91.79% 0.00% 100.26% 20.55% 4
Consumer Cyclical
1.50% 0.00% 31.19% 7.91% 2
Basic Materials
0.97% -0.07% 10.11% 7.11% 1
Financial Services
0.00% 0.00% 13.39% 4.74% 2
Healthcare
0.00% 0.00% 3.63% 5.53% 3
Industrials
0.00% -0.72% 11.94% 4.74% 2
Energy
0.00% 0.00% 38.67% 2.37% 2
Communication Services
0.00% 0.00% 9.58% 12.65% 4
Consumer Defense
0.00% 0.00% 0.89% 1.98% 2
Technology
0.00% 0.00% 5.40% 3.56% 2
Utilities
0.00% 0.00% 16.80% 1.98% 2

Stock Geographic Breakdown

Weighting Category Low Category High PAREX % Rank Quintile
US
94.26% 1.00% 107.43% 23.72% 4
Non US
0.00% 0.00% 43.95% 7.91% 3

PAREX - Expenses

Operational Fees

PAREX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.01% 0.10% 11.43% 43.87% 2
Management Fee 0.59% 0.07% 1.31% 11.07% 1
12b-1 Fee 0.25% 0.00% 1.00% 5.26% 2
Administrative Fee 0.15% 0.01% 0.40% 5.71% 4

Sales Fees

PAREX Fees (% of AUM) Category Low Category High PAREX Rank Quintile
Front Load N/A 3.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

PAREX Fees (% of AUM) Category Low Category High PAREX Rank Quintile
Max Redemption Fee 1.00% 0.75% 2.00% 7.14% 2

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PAREX Fees (% of AUM) Category Low Category High PAREX Rank Quintile
Turnover 6.60% 2.28% 880.00% 24.90% 1

PAREX - Distributions

Dividend Yield Analysis

PAREX Category Low Category High PAREX % Rank Quintile
Dividend Yield 0.5% 0.00% 3.78% 13.39% 1

Dividend Distribution Analysis

PAREX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PAREX Category Low Category High PAREX % Rank Quintile
Net Income Ratio 1.22% -1.42% 10.00% 39.92% 3

Capital Gain Distribution Analysis

PAREX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

PAREX - Managers

David M. Lee

Manager

Start Date

Oct 31, 1997

Tenure

18.76

Tenure Rank

1.1%

David M. Lee is the lead portfolio manager for the T. Rowe Price U.S. Real Estate Strategy and the Global Real Estate Strategy. He is on the Investment Advisory Committee for the firm's Real Assets Strategy with responsibilities for that strategy's real estate securities. Mr. Lee is a vice president of T. Rowe Price Group, Inc. Mr. Lee has 20 years of investment experience, 19 of which have been at T. Rowe Price. Prior to joining the firm in 1993 as a research analyst, Mr. Lee spent six years at IBM as an engineer and as a marketing representative. Mr. Lee earned a B.S. in engineering from the University of Illinois at Urbana–Champaign and an M.B.A. from Stanford University. Mr. Lee also has earned the Chartered Financial Analyst designation.


Tenure Analysis

Category Low

0.1

Category High

22.6

Category Average

7.02

Category Mode

1.6