Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Mid Cap Value Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The most significant news of the last quarter was the sudden reversal of the interest rate increase that took place during the summer. This was due to a few factors, including slightly improved inflation, the Federal Reserve’s dovish comments, and some technical issues with the issuance of Treasury bonds. As a result, the benchmark 10-year yield fell by more than 100 basis points, which is one of the steepest drops in history. Most broad-market indices advanced by double digits in the quarter with the Russell Midcap Value Index gaining 12%. The best-performing sectors were financials, real estate, and consumer discretionary, while energy, consumer staples, and healthcare lagged. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Chartwell Mid Cap Value Fund featured stocks like Extra Space Storage Inc. (NYSE:EXR) in the fourth quarter 2023 investor letter. Headquartered in Salt Lake City, Utah, Extra Space Storage Inc. (NYSE:EXR) is a self-administered and self-managed REIT. On April 1, 2024, Extra Space Storage Inc. (NYSE:EXR) stock closed at $146.74 per share. One-month return of Extra Space Storage Inc. (NYSE:EXR) was 2.92%, and its shares lost 8.38% of their value over the last 52 weeks. Extra Space Storage Inc. (NYSE:EXR) has a market capitalization of $32.105 billion.
Carillon Chartwell Mid Cap Value Fund stated the following regarding Extra Space Storage Inc. (NYSE:EXR) in its fourth quarter 2023 investor letter:
“Extra Space Storage Inc. (NYSE:EXR) is a real estate investment trust (REIT) that owns and operates self-storage facilities across the United States. The company’s outlook for the fourth quarter and the synergy target from the completed acquisition of Life Storage were both better than expected.”
An aerial view of a self-storage facility, its parking lot full with cars and RV’s.
Extra Space Storage Inc. (NYSE:EXR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Extra Space Storage Inc. (NYSE:EXR) was held by 26 hedge fund portfolios, up from 21 in the previous quarter, according to our database.
We discussed Extra Space Storage Inc. (NYSE:EXR) in another article and shared the list of best real estate and realty stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 2023 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.
