Baron Funds, an investment management company, released its “Baron Real Estate Income Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund rose 2.10% (Institutional Shares) compared to a 4.90% return for the MSCI US REIT Index (the “REIT Index”). For 2022, the fund declined 27.47% underperforming the benchmark which declined 25.37%. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Real Estate Income Fund highlighted stocks like Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in the fourth quarter 2022 investor letter. Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) acquires, owns, and finances real estate properties to be leased to gaming operators in triple-net lease arrangements. On March 13, 2023, Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) stock closed at $50.43 per share. One-month return of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) was -5.19%, and its shares gained 13.25% of their value over the last 52 weeks. Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) has a market capitalization of $13.231 billion.
Baron Real Estate Income Fund made the following comment about Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in its Q4 2022 investor letter:
“Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) is a triple net gaming REIT that owns 57 premier casino gaming assets diversified across 17 states.
The shares performed well in the fourth quarter and full year of 2022, in part due to investors’ view that the company’s shares would be a safe haven in an uncertain macroeconomic environment. The company pays out a well covered 5.5% dividend yield while growing its organic cash flow at a low single-digit rate. Its tenants are well positioned to make their rent payments even if an economic downturn occurs, and the company’s balance sheet is well capitalized to fund new acquisitions should attractive opportunities become available.”
Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) at the end of the fourth quarter which was 22 in the previous quarter.
We discussed Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) in another article and shared the list of best casino stocks to buy for 2023. 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.
