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TRREX T. Rowe Price Real Estate

  • Fund
  • TRREX
  • Price as of: May 14, 2019
  • $28.59 + $0.12 + 0.42%
  • Category
  • Real Estate

TRREX - Profile

Vitals

  • YTD Return 15.4%
  • 3 Yr Annualized Return 0.3%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $4.03 B
  • Holdings in Top 10 51.3%

52 WEEK LOW AND HIGH

$28.59
$23.80
$29.07

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.78%

SALES FEES

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

BROKERAGE FEES

  • Turnover 4.00%

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 15.4%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.73%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name T. Rowe Price Real Estate Fund
  • Fund Family Name T. Rowe Price
  • Inception Date Oct 31, 1997
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Nina P. Jones

Fund Description

The T. Rowe Price Real Estate Fund (TRREX) is an actively managed fund that bets on commercial real estate in the United States. The fund owns companies that derive at least 50% of their revenues or profits from real estate activities; this includes real estate brokers, REITs, home builders and property managers. The fund does not have a restriction on market-cap size. In addition, TRREX can hold up to 25% of its assets in international firms. Managers use various fundamental screens when choosing the fund’s holdings.

Expenses for the fund are low. As such, TRREX makes an ideal choice for investors looking to add a satellite position in commercial real estate to their portfolios. The fund is managed by T. Rowe Price.

TRREX - Performance

Return Ranking - Trailing

Period TRREX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.4% 5.6% 20.7% 76.06%
1 Yr 7.0% -31.3% 18.8% 73.94%
3 Yr 0.3%* -17.4% 5.2% 36.56%
5 Yr 3.5%* -11.0% 19.7% 19.08%
10 Yr 12.1%* 3.3% 17.4% 10.57%

* Annualized


Return Ranking - Calendar

Period TRREX Return Category Return Low Category Return High Rank in Category (%)
2018 -13.7% -44.0% -5.8% 75.81%
2017 0.7% -16.4% 25.4% 46.24%
2016 3.7% -17.0% 8.6% 11.29%
2015 2.3% -18.1% 2.4% 1.08%
2014 26.6% -3.3% 115.9% 25.88%

Total Return Ranking - Trailing

Period TRREX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.4% 5.6% 20.7% 77.13%
1 Yr 7.0% -30.4% 21.4% 86.70%
3 Yr 0.3%* -17.0% 8.2% 84.95%
5 Yr 3.5%* -10.7% 19.7% 78.03%
10 Yr 12.1%* 3.3% 17.4% 67.48%

* Annualized


Total Return Ranking - Calendar

Period TRREX Return Category Return Low Category Return High Rank in Category (%)
2018 -13.7% -43.3% -1.9% 89.25%
2017 0.7% -13.6% 32.7% 87.10%
2016 3.7% -12.3% 10.2% 63.98%
2015 2.3% -15.2% 7.6% 47.03%
2014 26.6% -3.3% 115.9% 68.24%

NAV & Total Return History

TRREX - Holdings

Concentration Analysis

TRREX Category Low Category High TRREX % Rank
Net Assets 4.03 B 10.7 M 63.8 B 12.77%
Number of Holdings 39 21 731 73.94%
Net Assets in Top 10 2.09 B 3.76 M 26.5 B 10.11%
Weighting of Top 10 51.26% 11.9% 161.1% 15.43%

Top 10 Holdings

  1. Prologis Inc 8.29%

  2. Simon Property Group Inc 6.20%

  3. AvalonBay Communities Inc 6.10%

  4. Equity Residential 6.04%

  5. Camden Property Trust 5.02%

  6. Essex Property Trust Inc 4.57%

  7. Public Storage 4.41%

  8. Douglas Emmett Inc 3.87%

  9. Alexandria Real Estate Equities Inc 3.60%

  10. Healthcare Realty Trust Inc 3.17%


Asset Allocation

Weighting Return Low Return High TRREX % Rank
Stocks
98.89% 15.70% 100.19% 45.74%
Cash
1.11% -113.94% 12.44% 47.34%
Preferred Stocks
0.00% 0.00% 53.32% 33.51%
Other
0.00% -0.59% 5.80% 38.83%
Convertible Bonds
0.00% 0.00% 5.90% 30.32%
Bonds
0.00% 0.00% 113.82% 30.85%

Stock Sector Breakdown

Weighting Return Low Return High TRREX % Rank
Real Estate
95.36% 12.48% 99.74% 54.26%
Consumer Cyclical
1.83% 0.00% 37.68% 18.09%
Basic Materials
1.70% -0.05% 16.58% 18.09%
Utilities
0.00% 0.00% 0.00% 26.60%
Technology
0.00% 0.00% 9.96% 47.34%
Industrials
0.00% -0.02% 9.42% 38.30%
Healthcare
0.00% 0.00% 4.53% 29.26%
Financial Services
0.00% 0.00% 14.48% 34.57%
Energy
0.00% 0.00% 4.87% 27.66%
Communication Services
0.00% 0.00% 12.24% 64.89%
Consumer Defense
0.00% 0.00% 0.22% 27.66%

Stock Geographic Breakdown

Weighting Return Low Return High TRREX % Rank
US
98.89% 15.70% 100.00% 36.70%
Non US
0.00% 0.00% 47.66% 56.91%

TRREX - Expenses

Operational Fees

TRREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.78% 0.00% 29.08% 90.43%
Management Fee 0.59% 0.00% 1.20% 20.21%
12b-1 Fee 0.00% 0.00% 1.00% 3.97%
Administrative Fee 0.15% 0.01% 0.47% 72.90%

Sales Fees

TRREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TRREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.75% 2.00% 48.39%

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.

TRREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 4.00% 3.00% 1060.00% 1.06%

TRREX - Distributions

Dividend Yield Analysis

TRREX Category Low Category High TRREX % Rank
Dividend Yield 0.02% 0.00% 0.05% 31.38%

Dividend Distribution Analysis

TRREX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Quarterly Quarterly

Dividend Payout History


Net Income Ratio Analysis

TRREX Category Low Category High TRREX % Rank
Net Income Ratio 1.73% -0.10% 5.36% 45.21%

Capital Gain Distribution Analysis

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

TRREX - Managers

Nina P. Jones

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2019

0.33

0.3%

Nina Jones is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. She is a portfolio manager and analyst in the Equity Division. She is president of the Global Real Estate Fund and chairman of the fund's Investment Advisory Committee. Nina is a vice president and Investment Advisory Committee member of the Real Estate, Equity Income, Growth & Income, Financial Services, Small-Cap Value, Mid-Cap Value, Real Assets, and Capital Appreciation Funds. She is also an Investment Advisory Committee member of the Institutional Large-Cap Value Fund. Nina joined the firm in 2008 after serving as a summer intern in 2007, following payroll processor companies in the business services sector. Prior to joining the firm, Nina was a senior associate in audit and risk advisory for KPMG LLP. She holds dual B.S. degrees in accounting and finance from the University of Maryland, magna cum laude, and earned an M.B.A. from Columbia Business School, graduating with honors. Nina is also a certified public accountant.


Tenure Analysis

Category Low

0.0

Category High

25.34

Category Average

8.78

Category Mode

5.33