Baron Funds, an investment management company, released its “Baron Real Estate Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund rose 6.17% (Institutional Shares) compared to a 4.90% return for the MSCI US REIT Index (the “REIT Index”) and an 8.71% return for the MSCI USA IMI Extended Real Estate Index (the “MSCI Real Estate Index”). For 2022, the fund declined 28.44% compared to a 23.84% decline for the MSCI Real Estate Index and a 25.37% decline for the REIT Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds highlighted stocks like Jones Lang LaSalle Incorporated (NYSE:JLL) in the Q4 2022 investor letter. Headquartered in Chicago, Illinois, Jones Lang LaSalle Incorporated (NYSE:JLL) is a real estate and investment management services provider. On January 31, 2023, Jones Lang LaSalle Incorporated (NYSE:JLL) stock closed at $184.87 per share. One-month return of Jones Lang LaSalle Incorporated (NYSE:JLL) was 11.90%, and its shares lost 27.48% of their value over the last 52 weeks. Jones Lang LaSalle Incorporated (NYSE:JLL) has a market capitalization of $8.774 billion.
Baron Funds made the following comment about Jones Lang LaSalle Incorporated (NYSE:JLL) in its Q4 2022 investor letter:
“Our “other real estate-related companies” category includes those companies that do not fit neatly in more traditional real estate categories of REITs, residential-related real estate, and travel-related real estate. Other real estate-related companies currently include:
Commercial real estate services companies Examples: CBRE Group, Inc. and Jones Lang LaSalle Incorporated (NYSE:JLL).
Commercial real estate services companies: We remain bullish on the long-term growth opportunity for the commercial real estate brokerage category because of structural and secular tailwinds that should benefit leading global companies such as CBRE and Jones Lang LaSalle…” (Click here to read the full text)
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Jones Lang LaSalle Incorporated (NYSE:JLL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Jones Lang LaSalle Incorporated (NYSE:JLL) at the end of the third quarter, which was 28 in the previous quarter.
We discussed Jones Lang LaSalle Incorporated (NYSE:JLL) in another article and shared the list of largest property management companies in the US. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
